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Stocks may open lower

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 21 points at the opening bell.

Overseas, Asian stocks were trading mixed on Friday as investors waited for concrete signs of progress in the US-Mexican trade standoff, while bracing for a US jobs report that could sway the course of interest rates there.

US stocks closed higher after a choppy session on Thursday as investors grew more optimistic on trade after reports that the United States is considering a delay in imposing tariffs on Mexican imports.

Back home,domestic stocks dropped sharply yesterday, 6 June 2019 as investors booked profits after the Reserve Bank of India (RBI) cut repo rate by 25 basis points, as expected, and changed policy stance to accommodative from neutral. The Sensex fell 553.82 points or 1.38% to settle at 39,529.72. The Nifty 50 index fell 177.90 points or 1.48% to settle at 11,843.75.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 1448.99 crore yesterday, 6 June 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 650.84 crore yesterday, 6 June 2019, as per provisional data.

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