Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 16 points at the opening bell.

Government data released after market hours yesterday, 30 September 2019 showed the index of Eight Core Industries carrying 40.27% weight of items included in the Index of Industrial Production (IIP) has declined by 0.5% in August 2019 as compared to the index of August 2018.

Overseas, Asian stocks were trading mixed on Tuesday on hopes that China and the United States could work towards reaching a deal on trade.

US stocks rose on Monday, helped by gains in Apple, Microsoft and Merck & Co, as investors set aside worries about the US-China trade war. Chinese markets will be shut for a week from Tuesday to mark 70 years since the founding of the People's Republic of China.

Back home, the market declined for second straight trading session on Monday, dragged by weakness in banking and financial stocks. Negative cues from other Asian indices put pressure on the bourses. The barometer index, the S&P BSE Sensex, fell 155.24 points or 0.40% to 38,667.33. The Nifty 50 index fell 35.15 points or 0.31% to 11,477.25.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 469.40 crore yesterday, 30 September 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 504.69 crore yesterday, 30 September 2019, as per provisional data.