Market may open slightly higher

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 11 points at the opening bell.

Overseas, most Asian stocks were trading higher on Monday as investors pinned their hopes on any signs of a thaw in US-China trade negotiations.

China's President Xi Jinping will reportedly attend the G20 summit in Japan this week, giving the first official confirmation of his attendance at a gathering where he is expected to meet US President Donald Trump.

US stocks finished lower Friday, 21 June 2019 amid heightened tensions between Iran and the US. US President Trump reportedly said on Sunday he was not seeking war with Tehran after a senior Iranian military commander warned any conflict in the Gulf region could spread uncontrollably and threaten the lives of US troops.

On the data front, IHS Markit said its flash manufacturing purchasing managers index in June dropped to 50.1 from 50.5 in May, the worst reading since Sept. 2009. The flash services purchasing managers index in June fell to 50.7 from 50.9, the worst reading since March 2016.

Back home,domestic shares declined on Friday, 21 June 2019 as rising crude oil prices overshadowed investor euphoria surrounding the US Fed's hints at future rate cuts. The barometer index, the S&P BSE Sensex, fell 407.14 points or 1.03% to 39,194.49. The Nifty 50 index fell 107.65 points or 0.91% to 11,724.10.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 730.58 crore on Friday, 21 June 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 445.75 crore on Friday, 21 June 2019, as per provisional data.

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