Market may open lower; GDP data eyed

SGX Nifty:

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

Economic Data:

The key data point to watch out for would be the GDP growth rate for March 2021 quarter, which will be released today, 31 May 2021. The infrastructure output and fiscal deficit for April will also be announced today.

Global markets:

Overseas, Asian stocks are trading mixed on Monday, as investors reacted to the release of China's official manufacturing Purchasing Managers' Index for May.

China's official manufacturing Purchasing Managers' Index for May came in at 51.0. The May figure was also a slight decrease from the previous month's reading of 51.1.

Japan's retail sales rose 12% in April as compared with a year earlier, according to government data released Monday .

Markets in the U.S. are closed on Monday for a holiday. US stocks climbed on Friday as investors brushed off a stronger-than-expected inflation reading.

Domestic markets:

Back home, equity indices ended a range bound session with modest gains on Friday, supported by upbeat global stocks. The barometer index, the S&P BSE Sensex, advanced 307.66 points or 0.6% at 51,422.88. The Nifty 50 index gained 97.80 points or 0.64% to 15,435.65, its record closing high level.

Foreign portfolio investors (FPIs) bought shares worth Rs 913.59 crore, while domestic institutional investors (DIIs), were also net buyers to the tune of Rs 1,275.22 crore in the Indian equity market on 28 May, provisional data showed.

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