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Indices may open lower

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 30 points at the opening bell. Wipro and Yes Bank will declare their Q1 results on 17 July 2019.

Overseas, most Asian stocks were trading lower on Wednesday following overnight developments on the US-China trade front.

U.S. stocks closed lower on Tuesday after President Donald Trump said an agreement with China on trade tariffs had a long way to go adding that America could place tariffs on an additional $325 billion worth of Chinese goods. Trump made his comments during a cabinet meeting at the White House.

Federal Reserve chair Jerome Powell, while speaking in Paris at the Bank of France, said the economic outlook hasn't improved since the last Federal Open Markets Committee meeting in June, likely setting the stage for an interest rate cut.

Back home,key equity benchmarks ended higher on Tuesday, supported by gains in Reliance Industries and Larsen and Toubro (L&T). Weakness in TCS and HDFC Bank capped gains. The Sensex closed above 39,000 level while the Nifty ended above 11,600 mark. The Sensex rose 234.33 points or 0.60% to settle at 39,131.04. The Nifty 50 index rose 72.70 points or 0.63% to settle at 11,661.05.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 444.99 crore yesterday, 16 July 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 637.71 crore yesterday, 16 July 2019, as per provisional data.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, July 17 2019. 08:29 IST
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