You are here: Home » News-CM » Equities » Market Report
Business Standard

Market may open lower

Capital Market 

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 29 points at the opening bell.

Overseas, Asian stocks are trading higher on Tuesday as investors weighed growing expectations of an economic rebound in China and a resurgent US services industry.

In US, stocks finished sharply higher Monday, with the Nasdaq scoring a record close, as a rebound in U.S. services industry activity in June and expectations of a revival in China's economy boosted optimism, helping investors look past a surge in new coronavirus cases in the United States.

The gains came despite a record surge in new COVID-19 cases in 16 states in the United States this month that could further hamper reopening plans and create a risk to the economic recovery.

Amazon.com, Inc.'s stock rose 5.8% to close at $3,057 a share, topping the $3,000 level for the first time in its history and clinching a $1.5 trillion valuation.

The Institute for Supply Management's (ISM) non-manufacturing activity index almost returned to its pre-COVID-19 pandemic levels last month, jumping to a reading of 57.1, the highest since February, from 45.4 in May, a report showed.

Back home, domestic shares advanced for the fourth straight session on Monday, tracking positive global cues. The barometer S&P BSE Sensex rallied 465.86 points or 1.29% at 36,487.28. The Nifty 50 index surged 156.30 points or 1.47% at 10,763.65.

Foreign portfolio investors (FPIs) bought shares worth Rs 348.35 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 263.47 crore in the Indian equity market on 6 July, provisional data showed.

Powered by Capital Market - Live News

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

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, July 07 2020. 08:04 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU