Equity

Pre Session Commentary

Shares may see profit booking
(05-Jul-2018, 07:51 Hours IST)  

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 3 points at the opening bell.

Overseas, Asian markets were trading lower as investors searched for direction ahead of a deadline when tariffs from the US and China are due to be implemented. A looming 6 July 2018 deadline is set to see the US impose a 25% tariff on $34 billion worth of Chinese goods from more than 800 product categories. China has also announced that it will retaliate with duties on the same value of US products.

US stock market was shut on Wednesday for the Independence Day holiday.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 284.58 crore yesterday, 4 July 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 611.01 crore yesterday, 4 July 2018, as per provisional data.

Key benchmark indices settled with modest gains yesterday, 4 July 2018. The barometer index, the S&P BSE Sensex, rose 266.80 points or 0.75% to settle at 35,645.40. The Nifty 50 index rose 70 points or 0.65% to settle at 10,769.90. Upbeat June services PMI data boosted sentiment on the domestic bourses.

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