Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 3.50 points at the opening bell.
Overseas, Asian markets plummeted Monday, amid heightened recession worries. U.S. stocks closed sharply lower Friday, after a downbeat round of economic data in Europe and the U.S. stoked global growth fears while a closely watched measure of the yield curve inverted for the first time since 2007, triggering recession worries.
According to the flash reading of IHS Markit's purchasing manager's index, the manufacturing index fell to 52.5 in March from 53 in February. U.S. wholesale inventories rose 1.2% in January after a revised estimate of a 1.1% increase in December, the Commerce Department said.
In Europe, at a pivotal European Council summit where meetings overran dramatically, the European Union offered the U.K. a two-pronged plan to extend Brexit beyond the March 29 deadline. The U.K. will be offered a delay until May 22, if MPs approve the deal Prime Minister Theresa May had negotiated. If not, the EU will support a shorter delay, to April 12 to formulate a new plan.
The flash PMI figure for the eurozone in March showed that the preliminary Markit PMI Composite figure, seasonally adjusted, was 51.3, below the February figure of 51.9.
Back home,the Sensex snapped an eight-day rising streak on Friday amid profit booking by investors. The Nifty ended below the 11,500 mark after moving above and below that mark in intraday trade. The Sensex fell 222.14 points or 0.58% to settle at 38,164.61. The Nifty 50 index fell 64.15 points or 0.56% to settle at 11,456.90.
The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 1,374.57 crore on Friday, 22 March 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 675.37 crore on Friday, 22 March 2019, as per provisional data.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)