Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 34 points at the opening bell.
Overseas, most Asian stocks were trading lower on concerns about global growth. US stocks finished mostly lower Monday, as the government stepped up scrutiny of technology giants for possible violations of antitrust law. There were some signs of moderation of trade tensions with officials from China and Mexico indicating that they are open to talks with the U.S. as tensions ramp up.
In US economic data, the Institute for Supply Management said its US Manufacturing Purchasing Managers Index declined to 52.1 in May from 52.8 in April, marking the lowest level since October 2016.
Back home,strong buying demand in index pivotals triggered a sharp rally on the bourses yesterday, 3 June 2019. Sentiment was boosted by steep slide in crude oil prices. The Sensex surged 553.42 points or 1.39% to settle at 40,267.62, its record closing high. The Nifty 50 index spurted 165.75 points or 1.39% to settle at 12,088.55, its record closing high.
The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 3068.88 crore yesterday, 3 June 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 462.69 crore yesterday, 3 June 2019, as per provisional data.
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