Indices may open on a weak note

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 73 points at the opening bell.

Meanwhile, the Union Cabinet reshuffle/expansion will be reportedly taking place on July 7 at 18:00 IST. This will be the first cabinet reshuffle in the second term of the Narendra Modi government.

Global markets:

Overseas, Asian stocks are trading mixed on Wednesday following losses on Wall Street with the S&P 500 ending its seven-day winning streak.

US stocks stumbled on Tuesday as Wall Street kicked off the holiday-shortened week on concerns about the economic outlook and risks from Covid-19 variants.

The ISM Services index, a major gauge of the services sector, slowed to 60.1 in June from a record in the prior month, data released Tuesday showed.

Investors await the release of June Federal Open Market Committee meeting minutes due Wednesday for clues about the central bank's behind-the-scenes discussions on winding down its quantitative easing program.

Domestic markets:

Back home, the main equity indices ended a volatile session with minor losses on Tuesday amid muted global cues and firm crude oil prices. The barometer index, the S&P BSE Sensex, fell 18.82 points or 0.04% at 52,861.18.

Foreign portfolio investors (FPIs) sold shares worth Rs 543.30 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 521.30 crore in the Indian equity market on 6 July, provisional data showed.

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