Market may open lower

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 49 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Monday, despite rising tech tensions between Washington and Beijing.

As per reports, the Trump administration is considering imposing export restrictions on Semiconductor Manufacturing International Corporation, China's largest manufacturer of semiconductors.

In US, stocks closed lower on Friday though well above its session low as selling eased late in the day after investors dumped heavyweight technology stocks due to concerns about high valuations.

US employment growth slowed further in August and permanent job losses increased as money from the government started running out. Nearly a fifth of the job gains reported by the Labor Department on Friday were from the government's temporary hiring for the 2020 Census. While the unemployment rate fell below 10%, it was biased down by a continuing misclassification problem.

Domestic markets:

Back home, key equity indices ended with steep losses on Friday as rising COVID-19 cases and ongoing geo-political tensions between India-China weighed on the sentiment. The barometer index, the S&P BSE Sensex, fell 633.76 points or 1.63% at 38,357.18. The Nifty 50 index slipped 193.60 points or 1.68% at 11,333.85.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,888.78 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 456.88 crore in the Indian equity market on 4 September, provisional data showed.

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