Market is seen opening lower tracking negative leads from other Asian markets.
Overseas, most Asian shares declined as China's manufacturing sector grew slower than expected in April, according to data released on Tuesday. Meanwhile, trade negotiations between the US and China are set to resume in Beijing later in the day.
The Caixin/Markit factory Purchasing Managers' Index for April was 50.2. The reading for March was 50.8. The private PMI survey came after China's National Bureau of Statistics released official manufacturing PMI for April, which came in at 50.1. PMI readings above 50 indicate expansion, while those below that signal contraction.
In US, all three major stock indices ended higher on Monday as the latest data showed softer core inflation in March while consumer spending jumped.
US consumer spending rose 0.9% in March from the prior month after a 0.1% February increase, according to a Commerce Department report Monday. The closely followed core PCE inflation was flat in March, knocking the yearly rate down to 1.6% from 1.7%. Personal incomes, meanwhile, increased 0.1% in March.
Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 70.73 crore on 26 April 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 920.88 crore on 26 April 2019, as per provisional data.
Key indices logged strong gains on 26 April 2019, on strong buying demand in index pivotals. The barometer index, the S&P BSE Sensex, gained 336.47 points or 0.87% at 39,067.33. The Nifty 50 index gained 112.85 points or 0.97% at 11,754.65.
Domestic stock markets were closed on Monday, 29 April 2019, on account of General Elections (Lok Sabha).
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