Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 38 points at the opening bell. Shares of Infosys will today, 15 July 2019 react to its results declared after market hours on Friday, 12 July 2019.
On the macro front, India's industrial production (base year 2011-12=100) rose at slower pace of 3.1% in May 2019, while showing moderation in growth from a six-month high of 4.3% in April 2019. However, the industrial production growth for April 2019 has been revised sharply upwards to 4.3% from 3.4% as reported provisionally. The data was released by the government after market hours on Friday, 12 July 2019.
The all-India general CPI inflation rose to 3.18% in June 2019 (new base 2012=100), compared with 3.05% in May 2019. The corresponding provisional inflation rate for rural area was 2.21% and urban area 4.33% in June 2019, as against 1.86% and 4.51% in May 2019. The core CPI inflation eased to 4.09% in June 2019 compared with 4.23% in May 2019. The data was released by the government after market hours on Friday, 12 July 2019.
Overseas, Asian stocks were trading lower as investors digested data showing Chinese economic growth slowed in the second quarter. Markets in Japan are closed on Monday for a holiday.
China released second-quarter figures showing that its economy slowed to 6.2%. From April to June, China's economy grew 6.2% from a year ago, the country's statistics bureau said on Monday.
US stocks posted record closing highs on Friday after Federal Reserve Chairman Jerome Powell in two days of congressional testimony bolstered investor expectations for an interest-rate cut at the end of the month. As per reports, the Fed will move at its July 30-31 meeting to cut its fed-funds rate by at least a quarter point and to potentially deliver further cuts before year-end.
Back home, heavy selling in the last hour of the session dragged benchmark indices lower on Friday, 12 July 2019. The Sensex fell 86.88 points or 0.22% to settle at 38,736.23. The Nifty 50 index fell 30.40 points or 0.26% to settle at 11,552.50.
The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 850.11 crore on Friday, 12 July 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 940.12 crore on Friday, 12 July 2019, as per provisional data.
Among corporate news, IT major Infosys announced that its net profit fell 6.8% to Rs 3,802 crore on 1.23% increase in revenue from operations to Rs 21,803 crore in Q1 June 2019 over Q4 March 2019. The company has increased FY20 revenue growth guidance to 8.5-10% in constant currency, while maintaining FY20 operating margin guidance in range of 21-23%.