Stocks may open with small gains

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

On the macro front, the Nikkei Services PMI data for December 2018 will be announced today, 4 January 2019.

Overseas, most Asian stocks fell on anxiety about global growth. US stocks declined yesterday, 3 January 2019 after a factory gauge dropped the most in a decade and Apple cut its sales outlook.

Back home,domestic stocks declined for second day in a row yesterday, 3 January 2019 led by weak global cues. Global stocks dropped after a revenue guidance cut from Apple added to fears of a slowdown in global economic growth. The Sensex fell 377.81 points or 1.05% to settle at 35,513.71, its lowest closing level since 24 December 2018.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 972.81 crore yesterday, 3 January 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 34.52 crore yesterday, 3 January 2019, as per provisional data.

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