SGX Nifty indicates soft opening

SGX Nifty:

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

Global markets:

Overseas, Asian stocks are trading mixed on Monday ahead of Australia and Malaysia central bank decisions this week.

The U.S. market is closed for a holiday Monday. Wall Street ended sharply higher in light trading on Friday as investors embarked on the second half of the year. The higher close on Wall Street came as traders went bargain hunting following the significant decrease seen early in the session.

A report from the Institute for Supply Management showing the pace of growth in U.S. manufacturing activity slowed by more than expected in the month of June. The ISM said its manufacturing PMI slid to 53.0 in June from 56.1 in May.

Domestic markets:

Back home, the barometers pared initial losses and ended with minor cuts on Friday. The barometer index, the S&P BSE Sensex, was down 111.01 points or 0.21% to 52,907.93. The Nifty 50 index fell 28.20 points or 0.18% to 15,752.05.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,324.74 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,310.71 crore in the Indian equity market on 1 July, provisional data showed.

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