Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 28 points at the opening bell. Dr. Reddy's Laboratories will announce Q1 June 2019 result today, 29 July 2019.
Overseas, Asian stocks were trading lower Monday as US-China negotiations resume in Beijing later this week amid low expectations for a major breakthrough. Meanwhile, Chinese industrial profits fell in June, according the the country's National Bureau of Statistics on Saturday. Industrial profits fell 3.1% in June from a year earlier, following a 1.1% gain in May.
US stocks closed at new highs for the S&P 500 and Nasdaq Composite indexes on Friday, as investors welcomed strong corporate earnings, government approval of the T-Mobile and Sprint merger.
On the economic front, the U.S. economy grew at an annualized pace of 2.1% in the second quarter, according to the Commerce Department, slowing from 3.1% in the first three months of the year.
The Fed will gather on July 30-31 for policy meeting and the U.S. central bank is widely anticipated to cut benchmark rates by at least 25 basis points to combat headwinds from the China-U.S. trade dispute and signs of slowing economic growth outside of the U.S.
Back home,the market ended with small gains on Friday, 26 July 2019, snapping a six-day losing streak. The recovery was backed by firmness in auto, bank and metal stocks. The Sensex rose 51.81 points or 0.14% to settle at 37,882.79. The Nifty 50 index rose 32.15 points or 0.29% to settle at 11,284.30.
The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 1503.26 crore on Friday, 26 July 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1917.52 crore on Friday, 26 July 2019, as per provisional data.
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