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Market may open higher

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 76 points at the opening bell.

Overseas, Asian stocks are trading near four-month highs on Monday as investors counted on super-cheap liquidity and fiscal stimulus to sustain the global economic recovery even as surging coronavirus cases delayed reopenings across the United States.

In US, financial markets were closed Friday for the observance of Independence Day.

Back home, domestic shares ended with modest gains after a volatile session on Friday. IT shares were in demand while banks corrected. Shares across Asia advanced on robust US payrolls data and a brisk pickup in Chinese service sector activity. However, a surge in coronavirus cases capped strong gains. The barometer S&P BSE Sensex rose 177.72 points or 0.5% at 36,021.42. The Nifty 50 index jumped 55.65 points or 0.53% at 10,607.35.

Foreign portfolio investors (FPIs) bought shares worth Rs 857.29 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 331.96 crore in the Indian equity market on 3 July, provisional data showed.

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

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First Published: Mon, July 06 2020. 07:50 IST