Market may open lower

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 44 points at the opening bell.

On the macro front, India's merchandise exports grew 47.19% to $35.17 billion in July on account of a healthy growth in the shipment of petroleum, engineering goods and gems and jewellery, according to provisional data of the commerce ministry. Imports during the month also rose 59.38% to $46.40 billion, leaving a trade deficit of $11.23 billion.

Global markets:

Overseas, Asian stocks are trading mixed on Tuesday as the Delta coronavirus variant spread in key markets in the region and put Chinese authorities on high alert, rattling investor confidence.

U.S. stocks gave up early gains and turned negative for the session on Monday as concerns about Covid variants and peaking economic growth weighed against strong earnings results.

Domestic markets:

Back home, benchmark indices closed with strong gains on first trading day of the week on positive global cues. The barometer index, the S&P BSE Sensex, was up 363.79 points or 0.69% at 52,950.63. The Nifty 50 index surged 122.1 points or 0.77% at 15,885.15.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,539.88 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,505.82 crore in the Indian equity market on 2 August, provisional data showed.

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