Market may open lower

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 33 points at the opening bell.

Overseas, Asian stocks are trading lower on Friday as investors remained cautious due to the growing number of coronavirus cases around the world.

In US, the S&P 500 and Dow dropped on Thursday as investors worried about another round of business shutdowns to contain a surge in coronavirus cases and they began to shift their focus to earnings. The Nasdaq was higher and hit another record high, however, helped by gains in Amazon.com , Microsoft Corp and Apple Inc .

Meanwhile, Treasury Secretary Steven Mnuchin reportedly said on Thursday that the Trump administration supports a narrower aid package for Americans hurt by the pandemic. Mnuchin said that the White House backs a further extension of the Paycheck Protection Program, which has been extended to Aug. 8, and stimulus checks for individuals but at lesser level than the initial phases of recovery aid.

Back home, domestic shares resumed uptrend on Thursday after a day's pause. Banks and metal shares rallied while FMCG shares declined. The barometer S&P BSE Sensex jumped 408.68 points or 1.12% at 36,737.69. The Nifty 50 index climbed 107.70 points or 1.01% at 10,813.45.

Foreign portfolio investors (FPIs) bought shares worth Rs 212.77 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 803.39 crore in the Indian equity market on 9 July, provisional data showed.

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