Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 23 points at the opening bell. Asian Paints and HCL Technologies will unveil January-March 2019 quarterly earnings today, 9 May 2019.
Overseas, Asian stocks were trading lower on Thursday as increased tensions ahead of key Sino-US trade negotiations fanned fresh concerns about the outlook for the global economy.
The U.S. stock market switched direction toward the closing bell to finish mostly lower Wednesday as worries over U.S.-China trade talks lingered.
The United States will raise tariffs from 10% to 25% on $200 billion worth of Chinese imports effective May 10, as per reports. The US Trade Representative's office will establish a process to seek exclusions for certain products from additional tariffs.
Back home, key domestic benchmarks extended losses for sixth straight trading session yesterday, 8 May 2019. Sentiment was weak across global stock markets amid worries of an unsuccessful US-China trade negotiation. The Sensex ended below 38,000 mark while the Nifty closed below 11,400 level. The Sensex fell 487.50 points or 1.27% to settle at 37,789.13. The Nifty 50 index fell 138.45 points or 1.20% to settle at 11,359.45.
The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 701.50 crore yesterday, 8 May 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 232.95 crore yesterday, 8 May 2019, as per provisional data.
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