Market may open lower

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 40 points at the opening bell.

Overseas, Asian stocks were trading lower on Monday as China maintained its benchmark lending rate for the third straight month.

China kept both its one-year and five-year loan prime rate unchanged, as its economy continued to recover after reopening following the coronavirus crisis. The one-year loan prime rate (LPR) was kept unchanged at 3.85%, while the five-year LPR remained at 4.65%.

Japan's exports dived 26.2% in June from a year earlier, data showed. Imports fell 14.4%. In May, Japan's exports had fallen 28.3%, the fastest pace since the global financial crisis as U.S.-bound car shipments plunged.

In US, stocks closed Friday mostly along the flatline as investors reacted to disappointing consumer sentiment data and gauged the potential for additional fiscal stimulus in the U.S. and Europe while COVID-19 cases continue to climb.

Netflix reported second-quarter earnings that missed analyst expectations, pushing the stock down 6.5%. The company's weak guidance for third-quarter subscriber growth a key metric for the streaming giant also contributed to the steep sell-off in the stock.

On the macro front, the early reading of the consumer-sentiment survey in July fell to 73.2 from 78.1 last month, the University of Michigan said Friday. Final results for July will be released in two weeks. The index has fallen close to a pandemic low, erasing almost all the gains in the prior two months.

Back home, key barometers ended with strong gains on Friday, extending their winning streak for third consecutive session. Significant buying in the final hour of trade pushed the indices near their day's high. Positive global cues supported buying in domestic shares.

The barometer S&P BSE Sensex surged 548.46 points or 1.50% at 37,020.14. The Nifty 50 index jumped 161.75 points or 1.51% at 10,901.70. Both these indices jumped over 2.7% in three sessions.

Foreign portfolio investors (FPIs) bought shares worth Rs 697.08 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 209.42 crore in the Indian equity market on 17 July, provisional data showed.

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