Market is seen opening lower tracking mixed 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 59.50 points at the opening bell.
Overseas, Asian shares were mixed on Thursday with two major centres - Japan and China - shut for holidays. Trading in Japan will resume next Tuesday while China will be back in action on Monday.
US stocks fell on Wednesday after Federal Reserve Chairman Jerome Powell acknowledged a slowdown in business and household spending, but described low inflation as "transitory" and denied there was a "strong case" to expect an interest-rate cut in the near term.
The US Federal Reserve on Wednesday kept its benchmark interest rate in a range of 2.25% to 2.5%. Senior officials sounded more upbeat about the economy after a slow start in early 2019 and pointed to a recent decline in inflation as reasons to stand pat.
On the US-China trade front, a trade deal between the two economic powerhouses could reportedly be announced by next Friday.
Among the US economic data, payroll firm ADP released its estimate of private-sector job growth in April, showing the US economy added 275,000 new jobs. Markit's manufacturing purchasing managers index for April came in at 52.6, a slight uptick from the near two-year low seen last month. The more closely watched Institute for Supply Management manufacturing index came in at 52.8%, below the March reading of 55.3%. The Commerce Department said construction spending fell by 0.9% in March, compared with February.
Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 114.59 crore on 30 April 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 730.02 crore on 30 April 2019, as per provisional data.
Key indices ended with small losses after a volatile trading session on 30 April 2019. The barometer index, the S&P BSE Sensex, fell 35.78 points or 0.09% to 39,031.55. The Nifty 50 index fell 6.50 points or 0.06% to 11,748.15.
Domestic financial market were closed on Wednesday, 1 May 2019, on account of Maharashtra Day.
On the economic front, the total gross GST revenue collected in the month of April 2019 is Rs 1,13,865 crore of which CGST is Rs 21,163 crore, SGST is Rs 28,801 crore, IGST is Rs 54,733 crore (including Rs 23,289 crore collected on imports) and Cess is Rs 9,168 crore (including Rs 1,053 crore collected on imports). The total number of GSTR 3B Returns filed for the month of March up to 30th April 2019 is 72.13 lakh.
The government has settled Rs 20,370 crore to CGST and Rs 15,975 crore to SGST from IGST as regular settlement. Further, Rs 12,000 crore has been settled from the balance IGST available with the Centre on provisional basis in the ratio of 50:50 between Centre and States. The total revenue earned by Central Government and the State Governments after regular and provisional settlement in the month of April, 2019 is Rs 47,533 crore for CGST and Rs 50,776 crore for the SGST.
The revenue in April 2018 was Rs 1,03,459 crore and the revenue during April 2019 is a growth of 10.05% over the revenue in the same month last year. The revenue in April, 2019 is 16.05% higher than the monthly average of GST revenue in FY 2018-19 (Rs 98,114 crore).
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