Pre Session Commentary

Stocks may open on a weak note
(05-Sep-2018, 08:34 Hours IST)  

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 49 points at the opening bell.

Nikkei Services PMI for August 2018 will be announced today, 5 September 2018. The Nikkei India Services PMI rose to 54.2 in July 2018 from 52.6 in June 2018.

Overseas, Asian stocks were trading lower amid continued pressure in many emerging markets and as trade tensions persisted. US stocks fell yesterday, 4 September 2018 as investors looked ahead to a busy week of trade negotiations and economic data.

Back home, key equity indices settled lower yesterday, 4 September 2018 dragged down by banks and FMCG stocks, as the rupee slumped to a record low and oil prices rose sharply. The barometer index, the S&P BSE Sensex, fell 154.60 points or 0.40% to settle at 38,157.92. The Nifty 50 index fell 62.05 points or 0.54% to settle at 11,520.30.

The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 32.64 crore yesterday, 4 September 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 21.41 crore on yesterday, 4 September 2018, as per provisional data.

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