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Market may open slightly lower

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 7 points at the opening bell.

Overseas, Asian stocks edged up on Monday, catching some of Wall Street's Friday's momentum. However gains were capped by concerns about China's economy due to the prolonged Sino-US trade war.

In US, stocks closed sharply higher on Friday after the employment report from the Labor Department beat economists' consensus expectations, showing an estimated 266,000 new jobs created in November, the most since January. The unemployment rate fell to a 50-year low to 3.5% from 3.6%.

Investors also remained optimistic about the chances of a US-China trade deal, even though the deadline that will see import duties increased looms on 15 December.

Back home, key market barometers tumbled amid wide spread selling pressure on Friday. The barometer index, the BSE Sensex, fell 334.44 points or 0.82% to 40,445.15. The Nifty 50 index fell 96.90 points or 0.81% to 11,921.50.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 867.66 crore on Friday, 6 December 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 210.72 crore, on Friday, 6 December 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: Mon, December 09 2019. 07:54 IST