Market may open on flat note

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 6 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mostly higher on Monday, with indexes in Australia, Hong Kong and the Chinese mainland posting gains. Markets in Japan and Singapore are closed for public holidays.

In US, the Dow and the S&P 500 indexes closed at record highs on Friday following a stronger-than-expected jobs report, while investors shrugged off concerns over the Delta variant impacting a nascent economic recovery.

Hiring surged in July as American employers added 943,000 jobs. The unemployment rate dropped to 5.4% another sign that the U.S. economy continues to bounce back with surprising vigor from last year's coronavirus shutdown.

Domestic markets:

Back home, key benchmark indices snapped four-day winning run to end with modest losses on Friday. The barometer index, the S&P BSE Sensex, dropped 215.12 points or 0.39% to end at 54,227.72. The Nifty 50 index fell 56.4 points or 0.35% at 16,238.20.

Foreign portfolio investors (FPIs) sold shares worth Rs 69.37 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 631 crore in the Indian equity market on 5 August, provisional data showed.

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