Market may open lower

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 53 points at the opening bell.

Overseas, Asian stocks fell amid concern over whether trade tensions with China can be mended. US stocks declined on Friday, 2 November 2018 as investors assessed whether the US and China will be able to ease trade tensions.

Back home,the market climbed on Friday, 2 November 2018 in line with global stocks as crude prices fell and the rupee extended gains to touch a one-month high. The Sensex rose 579.68 points or 1.68% to settle at 35,011.65, its highest closing level since 16 October 2018.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 196.90 crore on Friday, 2 November 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 852.99 crore on Friday, 2 November 2018, as per provisional data.

Among corporate news,Adani Gas, the gas sourcing and distribution business that was spun off from Adani Enterprises earlier this year, will be listed on the BSE and NSE today, 5 November 2018.

ONGC's net profit rose 61.1% to Rs 8,264.61 crore on 47.6% increase in net sales to Rs 27,989.17 crore in Q2 September 2018 over Q2 September 2017. The result was announced on Saturday, 3 November 2018.

Net profit of Axis Bank rose 82.62% to Rs 789.61 crore on 15.5% rise in total income to Rs 15959.37 crore in Q2 September 2018 over Q2 September 2017. The result was announced after market hours on Friday, 2 November 2018.

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