Market is seen opening lower tracking negative leads from Asian markets and overnight decline on the Wall Street. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 9.50 points at the opening bell.
Overseas, most Asian stocks declined as trade jitters continued to simmer ahead of a deadline when tariffs are due to take effect. A looming 6 July 2018 deadline is set to see the US impose a 25% tariff on $34 billion worth of Chinese goods from more than 800 product categories. China has also announced that it will retaliate with duties on the same value of US products.
US stock-market indexes closed lower on Tuesday, reversing earlier gains as losses in the technology and financials sectors outweighed advances in energy, telecoms and real-estate shares. On the data front, US factory orders climbed 0.4% in May.
Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 1043.31 crore yesterday, 3 July 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 278.84 crore yesterday, 3 July 2018, as per provisional data.
Stocks logged modest gains in a choppy session of trade yesterday, 3 July 2018. The barometer index, the S&P BSE Sensex, rose 114.19 points or 0.32% to settle at 35,378.60. The Nifty 50 index rose 42.60 points or 0.4% to settle at 10,699.90.
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