Sensex, Nifty may open in green; key things to know before opening bell
Asian stocks traded mixed on Monday as investors looked ahead to Chinese trade data for May. Markets in Malaysia and New Zealand are closed today for holidays.
SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 40 points at the opening bell.
Global markets: Overseas, Asian stocks traded mixed on Monday as investors looked ahead to Chinese trade data for May. Markets in Malaysia and New Zealand are closed today for holidays.
In other developments, finance ministers from the Group of Seven over the weekend backed a U.S. proposal that calls for firms globally to pay at least 15% tax on earnings.
US stocks closed higher Friday after the May nonfarm-payrolls report showed a less-than-expected gain, leading investors to bet that the Federal Reserve will maintain its easy-money policies for longer.
The US economy added 559,000 jobs in May, the Labor Department said on Friday. The number came in slightly lower than an estimated from economists, but still showed a healthy rebound in the labour market. It’s an improvement from the upwardly revised 278,000 payrolls added in April.
The unemployment rate fell to 5.8% from 6.1%, which was better than the estimate. As per reports, the jobs report, while solid, is not strong enough to trigger the Federal Reserve to dial back its bond-buying program.
Domestic markets: Back home, the domestic equity benchmarks ended with small losses on Friday, tracking negative global cues. The barometer index, the S&P BSE Sensex, declined 132.38 points or 0.25% to 52,100.05. The Nifty 50 index lost 20.10 points or 0.13% to 15,670.25.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,499.37 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,175.01 crore in the Indian equity market on 4 June, provisional data showed.
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