Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 118 points at the opening bell. Overseas, Asian stocks traded mixed on Monday, as data showed Chinese manufacturing activity growth slowed in July.
The Caixin/Markit manufacturing Purchasing Managers’ Index for July released Monday came in at 50. The Caixin manufacturing PMI figure had come in at 51.3 in June.
China’s official manufacturing PMI released over the weekend also showed factory activity growth slowing in July, with the figure for the month coming in at 50.4 versus June’s reading of 50.9.
The Covid situation in the region may also weigh on investor sentiment. More areas in Japan entered a Covid-19 state of emergency on Monday due to a spike in virus cases, as per reports.
US stock indexes closed lower Friday, with renewed concerns about a rise of cases of the delta variant Covid-19 and disappointing results from Amazon.com partly blamed for the slump.
Data on Friday showed the core personal consumption expenditures price index rose 3.5% in June year over year.
A final reading of the University of Michigan’s consumer-sentiment index fell to 81.2 in July from a reading of 85.5 in June, though it exceeded the initial July figure of 80.8.
Back home, key equity indices closed lower on Friday, erasing intraday gains. The barometer index, the S&P BSE Sensex, fell 66.23 points or 0.13% to 52,586.84. The Nifty 50 index lost 15.40 points or 0.1% to 15,763.05.
Foreign portfolio investors (FPIs) sold shares worth Rs 3,848.31 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,956.68 crore in the Indian equity market on 30 July, provisional data showed.
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