SGX Nifty indicates a lower opening for Sensex, Nifty
China's factory activity grew at a slower pace in August as PMI for August came in at 50.1, against July's reading of 50.4.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 37 points at the opening bell. India’s gross domestic product (GDP) for the April-June quarter of the ongoing fiscal will be released today.
Global markets
Overseas, Asian stocks are mostly trading lower on Tuesday, as data showed slowing Chinese factory activity growth in August.
China’s factory activity grew at a slower pace in August as compared with the previous month, data released Tuesday showed. The official manufacturing Purchasing Managers’ Index for August came in at 50.1, against July’s reading of 50.4.
In the U.S., the S&P 500 and Nasdaq hit record highs on Monday as technology stocks jumped after the Federal Reserve’s dovish comments eased fears of a sudden tapering in monetary stimulus and boosted optimism around an economic recovery.
Domestic markets
Back home, the key equity indices rallied on Monday, supported by firm global cues. The barometer index, the S&P BSE Sensex, surged 765.04 points or 1.36% at 56,889.76. The Nifty 50 index added 225.85 points or 1.35% at 16,931.05.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,202.81 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 688.85 crore in the Indian equity market on 30 August, provisional data showed.