A weak opening on the cards

August 05,2019

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 83 points at the opening bell.

Overseas, Asian shares were trading lower on Monday as a sharp escalation in the Sino-US trade war kept financial markets on edge.

US stocks ended at their lowest levels in a month on Friday as investors worried that President Trump's escalation of the trade war with China would impact economic growth. Stocks extended losses after China vowed to retaliate against President Trump's decision on Thursday to impose 10% tariffs on the remaining $300 million of imports from China not already subject to levies.

Back home, key equity benchmarks settled with decent gains on Friday, reversing steep intraday losses. Global shares were under pressure on US President Donald Trump's decision to impose new tariffs on Chinese goods. The Sensex rose 99.90 points or 0.27% to settle at 37,118.22. The Nifty 50 index rose 17.35 points or 0.16% to settle at 10,997.35.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 2888.06 crore on Friday, 2 August 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 2812.66 crore on Friday, 2 August 2019, as per provisional data.

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