Market may open higher

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 11 points at the opening bell.

Overseas, Asian stocks were trading higher on Monday after U.S. President Donald Trump and Chinese President Xi Jinping agreed to hold off on slapping additional tariffs in an effort to resume trade talks.

The moves came after Trump and Xi emerged from a meeting on the sidelines of the Group of 20 summit in Osaka, Japan. Both sides confirmed in separate comments that they did not plan to levy any new tariffs against each other's products at the present time.

Data released Monday from a private survey showed that Chinese factory activity in June was at its lowest since January. The Caixin/Markit factory Purchasing Managers' Index (PMI) for June was 49.4. The PMI reading for May was 50.2. Separately, the Purchasing Managers' Index (PMI) stood at 49.4 in June, China's National Bureau of Statistics said on Sunday, unchanged from the previous month.

US stocks closed higher on Friday, 28 June 2019 led by banks after the Federal Reserve's second round of stress test results. In U.S. economic data, the Commerce Department reported U.S. consumer spending rose 0.4% in May, while personal incomes rose 0.5% during the same period.

Back home,key equity benchmarks ended lower on Friday, 28 June 2019. Negative Asian stocks put pressure on domestic bourses. The key barometer, the S&P BSE Sensex, fell 191.77 points or 0.48% to 39,394.64. The Nifty 50 index fell 52.70 points or 0.45% to 11,788.85.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 513.91 crore on Friday, 28 June 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 182.40 crore on Friday, 28 June 2019, as per provisional data.

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