Indices may open lower

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 16 points at the opening bell. Larsen & Toubro and State Bank of India will declare January-March 2019 quarterly earnings today, 10 May 2019.

Overseas, Asian stocks edged higher on Friday as investors looked to whether negotiators from USA-China can clinch a deal to avert the hike.

Wall Street's main indexes fell on Thursday ahead of critical trade negotiations between the United States and China, though they pared losses significantly after US President Donald Trump said reaching a deal this week was possible.

Top US and Chinese trade negotiators concluded the first of two days of talks on Thursday to rescue a trade deal that is close to collapsing as Washington prepares to go ahead with plans to hike tariffs on hundreds of billions of dollars of goods imported from China.

Back home,key equity benchmarks declined for seventh straight trading session, dragged by index heavyweight Reliance Industries. Negative global stocks weighed on the sentiment amid concerns that the US and China would struggle to reach an agreement. The Sensex fell 230.22 points or 0.61% to settle at 37,558.91, its lowest closing level since 12 March 2019. The Nifty 50 index fell 57.65 points or 0.51% to settle at 11,301.80, its lowest closing level since 12 March 2019.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 655.36 crore yesterday, 9 May 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 677.91 crore yesterday, 9 May 2019, as per provisional data.

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