Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 15 points at the opening bell.
Investors are awaiting the Union Budget, which will be presented by Finance Minister Nirmala Sitharaman on Friday, 5 July 2019. After presenting the interim budget in February 2019, the Modi government will present its full-year budget 2019-20. The government is likely to amend several policies and schemes for delivering growth to the biggest drivers of the economy, including farmers, middle class, and the corporate sector.
Overseas, Asian stocks were trading lower on Wednesday as global trade concerns weighed on investor sentiment.
US stocks managed modest gains on Tuesday as enthusiasm over the US-China trade truce faded after the United States threatened tariffs on additional European goods.
Meanwhile US President Donald Trump's administration on Monday threatened to impose tariffs on $4 billion of additional European Union goods in a long-running dispute over aircraft subsidies. The new wave of proposed duties comes amid a 15-year dispute at the World Trade Organization over aircraft subsidies given to U.S. aerospace manufacturer Boeing and its European rival, Airbus.
Back home,key equity benchmarks ended higher for the second consecutive trading session yesterday, 2 July 2019. The barometer index, the S&P BSE Sensex, rose 129.98 points or 0.33% to 39,816.48. The Nifty 50 index rose 44.70 points or 0.38% to 11,910.30.
The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 512 crore yesterday, 2 July 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 141.09 crore yesterday, 2 July 2019, as per provisional data.
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