Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 3 points at the opening bell. Finance Minister Nirmala Sitharaman will table the Economic Survey in Parliament today, 4 July 2019.
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 higher on Thursday, tracking sharp gains on Wall Street on hopes of rate cuts by the US Federal Reserve.
US stocks rose on Wednesday, with each of the major indexes closing at a record high, as expectations grew that the Federal Reserve would take a more dovish turn as a raft of data provided more evidence of a slowing economy.
Back home, key equity benchmarks ended higher for the third consecutive trading session yesterday, 3 July 2019. Sharp gains were capped due to weakness in other Asian stock markets. The barometer index, the S&P BSE Sensex, rose 22.77 points or 0.06% to 39,839.25. The Nifty 50 index rose 6.45 points or 0.05% to 11,916.75.
The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 390.18 crore yesterday, 3 July 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 287.57 crore yesterday, 3 July 2019, as per provisional data.
Shares of IndiaMART InterMESH will debut on bourses today, 4 July 2019. The initial public offer (IPO) received bids for 9.74 crore shares, National Stock Exchange of India (NSE) data showed. The IPO was subscribed 36.21 times. The company has fixed final issue price at Rs 973 per share, the higher end of the Rs 970 to Rs 973 per share price band.
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