Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 45 points at the opening bell. Hindustan Unilever and Larsen & Toubro will declare their Q1 results today, 23 July 2019.
Overseas, most Asian Stocks were trading higher on Tuesday, following overnight gains on Wall Street amid better-than-expected earnings.
U.S. stock-market indexes closed higher Monday, as investors adjusted expectations around a widely anticipated rate cut by the Federal Reserve at the end of the month and began wading through a sea of corporate results after a strong start to earnings season.
U.S.-China trade negotiations were in focus, after reports that the two sides would soon meet face-to-face, with U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin traveling to Beijing next week.
In Europe, the U.K. is set to find out who its next prime minister will be this week as voting within the U.K.'s ruling Conservative Party comes to a close. The vote comes after Prime Minister Theresa May announced she would resign following repeated parliamentary rejections of the Brexit deal she struck with the EU. As such, the party leadership race has focused on how each contender would deal with Brexit ahead of a new departure deadline of October 31.
Back home,the domestic equity market extended its decline to the third consecutive session yesterday, 22 July 2019 led by weakness in financial stocks. Continuous FPI outflow and weak cues from other Asian indices spoiled investors sentiment. Firmness in crude oil prices for second consecutive session also raised concerns of higher inflation and fiscal slippage. The Sensex fell 305.88 points or 0.80% to settle at 38,031.13. The Nifty 50 index fell 82.10 points or 0.72% to settle at 11,337.15.
The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 1916.91 crore yesterday, 22 July 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1829.90 crore yesterday, 22 July 2019, as per provisional data.
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