India Markets close in 4 hrs 35 mins

Market may open higher

·2-min read

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 46 points at the opening bell.

Global markets:

Overseas, Asian stocks are mixed on Wednesday as investors reacted to the release of China's manufacturing activity data for September.

China's official manufacturing Purchasing Managers' Index (PMI) for September came in at 51.5 on Wednesday as compared to 51 in August, according to the country's National Bureau of Statistics. Meanwhile, a private manufacturing survey also showed manufacturing activity expanding in September, with the Caixin/Markit PMI coming in at 53 from 53.1 in August.

In US, Wall Street closed lower on Tuesday, snapping a three-day winning streak as investors took money off the table hours before the first U.S. presidential debate.

The first presidential debate involving United States President and Republican Party candidate Donald Trump and his rival from the Democratic Party Joe Biden spanned 90 minutes and involved topics such as the coronavirus pandemic, race and violence, economy and the two candidates' record. Going into the debate, most opinion polls had reportedly placed former vice president Biden in the lead. But, with over a month to go before the final ballots are cast, things could still change. In fact, this debate serves as an opportunity for millions of voters to directly compare the two leading candidates' policies and personalities.

U.S. House of Representatives Speaker Nancy Pelosi reportedly unveiled a new, $2.2 trillion coronavirus relief bill proposed by House Democrats, a sign of potential progress in the partisan tug-of-war over the new aid package nearly two months after emergency unemployment benefits expired for millions.

In economic news, the Conference Board said consumer confidence jumped much more than expected, hitting a print of 101.8 for September.

In coronavirus developments, Regeneron said its REGN-COV2 drug reduced viral levels and improved symptoms in non-hospitalized coronavirus patients.

Domestic markets:

Back home, the benchmark indices ended with minor losses after a volatile session on Tuesday. The barometer index, the S&P BSE Sensex, fell 8.41 points or 0.02% at 37,973.22. The Nifty 50 index lost 5.15 points or 0.05% at 11,222.40. Both these indices jumped 3.91% in the past two sessions.

Foreign portfolio investors (FPIs) sold shares worth Rs 26.98 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 542.34 crore in the Indian equity market on 29 September, provisional data showed.