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Market may open lower

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 51 points at the opening bell. Neogen Chemicals debuts on the secondary equity market today, 8 May 2019.

Overseas, Asian equities tracked Wall Street's slide on Wednesday as the latest developments in the US-China trade conflict fanned fresh fears about global growth.

US stocks slid on Tuesday as escalating trade tensions between the United States and China triggered global growth fears and drove investors away from riskier assets.

Back home,key domestic indices ended sharply lower yesterday, tracking mixed global cues amid worries about US-China trade dispute. The Nifty ended a tad below 11,500 level. The Sensex fell 323.71 points or 0.84% to settle at 38,276.63. The Nifty 50 index fell 100.35 points or 0.87% to settle at 11,497.90.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 645.08 crore yesterday, 7 May 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 818.84 crore yesterday, 7 May 2019, as per provisional data.

Among corporate news, on a consolidated basis, Vedanta's net profit fell 46% to Rs 2,615 crore on 15% decline in net sales to Rs 23,092 crore in Q4 March 2019 over Q4 March 2018. The result was announced after market hours yesterday, 7 May 2019.

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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, May 08 2019. 08:34 IST
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