Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 46 points at the opening bell.
On the macro front, India's economic growth rate slowed to five-year low of 5.8% in January-March 2018-19, due to slackness in agriculture and manufacturing sectors, official data stated. The Central Statistics Office also revealed that GDP growth during the 2018-19 fiscal stood at 6.8%, lower than 7.2% in the previous financial year. The data was released after market hours on Friday, 31 May 2019.
Overseas, Stocks in Asia were trading lower on Monday amid increasing concerns over the state of global trade. A private gauge indicated that activity in China's factories held steady in May. The Caixin China manufacturing purchasing managers index in May remained unchanged from April at 50.2, Caixin Media Co. and research firm Markit said Monday.
US stocks closed sharply lower Friday, after President Donald Trump unexpectedly announced plans to impose tariffs on imports from Mexico in an attempt to pressure the country to stem the flow of migrants across the U.S. border.
Meanwhile, reports said China may be readying fresh retaliatory moves against the U.S. in that trade dispute, while data showed a contraction in Chinese manufacturing activity this month.
Late Thursday, Trump announced that the U.S. would impose a 5% tariff on all goods from Mexico until that country stops the flow of illegal immigrants into the country. He said the tariffs will rise to 10% on July 1 if the crisis persists, and by another 5% for every successive month, up to 25% by October 1.
In US economic data, the University of Michigan's final consumer sentiment index reading for May came in at 100 versus an initial 102.4, but remained up from 97.2 in April.
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Back home,key equity indices ended with modest losses on Friday as investors booked profits after the Narendra Modi government announced the allocation of the Cabinet portfolios. Sentiment was also impacted by negative global cues. However, steep slide in crude global oil prices cushioned losses. The Sensex fell 117.77 points or 0.30% to settle at 39,714.20. The Nifty 50 index fell 23.10 points or 0.19% to settle at 11,922.80.
The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 676.15 crore on Friday, 31 May 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 394.09 crore on Friday, 31 May 2019, as per provisional data.
Among corporate news,Maruti Suzuki India reported 22% decline in total vehicle sales to 1.34 lakh units in May 2019 over May 2018. Total domestic passenger vehicle sales declined 25.1% to 1.21 lakh units. Total export sales fell by 2.4% to 9089 units. The announcement was made on Saturday, 1 June 2019.
Tata Motors Commercial and Passenger Vehicles Business sales in the domestic market in May 2019 were reported at 40,155 units, a drop of 26%, as against 54,290 units sold in May 2018, as market sentiments continued to be muted. The announcement was made on Saturday, 1 June 2019.
Mahindra & Mahindra (M&M) reported a 3% decline in total vehicle sales to 45,421 units in May 2019 over May 2018. Total domestic sales declined 2% to 43,056 units in May 2019 over May 2018. Total exports declined 22% to 2,365 units in May 2019 over May 2018. The announcement was made on Saturday, 1 June 2019.
Further, M&M's Farm Equipment Sector (FES), reported a 16% decline in total sales to 24,704 units in May 2019 over May 2018. Total domestic sales declined 17% to 23,539 units in May 2019 over May 2018. Total exports increased 3% to 1,165 units in May 2019 over May 2018.
Eicher Motors said that its unlisted material subsidiary, VE Commercial Vehicles, reported a 19.7% decline in the total vehicle sales to 4,801 units in May 2019 over May 2018. The announcement was made on Saturday, 1 June 2019.
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