Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 47 points at the opening bell.
Overseas, Asian stocks were mixed on Monday as China cut its benchmark lending rate.
China cut its benchmark lending rate as expected on Monday to reduce borrowing costs for companies and prop up the coronavirus-hit economy, after it contracted for the first time in decades. The one-year loan prime rate (LPR) was lowered by 20 basis points (bps) to 3.85% from 4.05% previously, while the five-year LPR was cut by 10 bps to 4.65% from 4.75%.
In US, stocks rose on Friday, boosted by a surge in Boeing shares on President Donald Trump's plan to reopen the coronavirus-battered economy and hopes of a potential drug by Gilead to treat COVID-19.
Back home, domestic shares surged on Friday, tracking strong global cues. The barometer index, the S&P BSE Sensex, surged 986.11 points or 3.22% at 31,588.72. The Nifty 50 index climbed 273.95 points or 3.05% at 9,266.75.
The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 1,391.98 crore on 17 April 2020, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 534.24 crore on 17 April 2020, as per provisional data.
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