Stock markets opened flat on Monday with a negative bias, following muted trends seen in other Asian markets, and then slipped into negative zone.
Stock markets opened flat on Monday with a negative bias, following muted trends seen in other Asian markets, and then slipped into negative zone. At 10.57 am, the Sensex was trading at 26728.55, down by 30.68 points, while the Nifty was trading 6.65 points down at 8237.15.
Asian stocks edged higher on opening, helped by a strong closing on Wall Street on the back of strong economic data.
The US stocks ended at record highs on Friday, fueled by optimism about plans to stimulate the economy with lower taxes and infrastructure spending, followed by the latest US payrolls data indicating strong underlying wage growth, strengthening the case for more rate increases in 2017.
The European markets ended Friday’s session with mixed results, but the majority finished with slight gains. The markets were locked in a narrow trading range throughout the day and did not stray too far away from the flat line in either direction
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The Indian market fell slightly on Friday as IT stocks continued to come under selling pressure ahead of quarterly results beginning next week. Profit booking after Thursday’s rally, weakness in the rupee in the evening trade and sluggish cues from European markets also dented investor sentiment.
As per provisional figures, foreign institutional investors (FIIs)/ foreign portfolio investors (FPIs) sold shares worth net Rs 255.21 crore on 6th January 2017. Domestic institutional investors bought shares worth Rs 165.29 core on that day.