SGX Nifty indicates at positive start for Indian indices

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Trends on SGX Nifty indicate a positive start for the broader index in India and Nifty could rise 37 points at the opening bell. Overseas, Asian stocks are trading higher on Tuesday after major indexes on Wall Street rose to record closing highs.

South Korea’s economy grew at a slower pace in the third quarter, as robust exports were offset by weak domestic demand and construction and facility investments, data from the Bank of Korea showed on Tuesday. Gross domestic product (GDP) grew a seasonally adjusted 0.3% in the September quarter from three months earlier, slowing from 0.8% growth in the preceding quarter.

Major Wall Street benchmarks hit fresh records on Monday, buoyed by a robust start to the U.S. corporate earnings season and an improving economic outlook.

Domestic markets

Back home, the equity barometers snapped a four-day losing streak and ended with modest gains on Monday. The barometer index, the S&P BSE Sensex, gained 145.43 points or 0.24% at 60,967.05. The Nifty 50 index rose 10.50 points or 0.06% at 18,125.40.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,459.10 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,390.23 crore in the Indian equity market on 25 October, provisional data showed.