Market is seen opening lower tracking negative leads from Asian markets and overnight fall on the Wall Street. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 9 points at the 

opening bell.

The Reserve Bank of India's (RBI)'s Monetary Policy Committee (MPC) will meet today, 31 July and tomorrow, 1 August 2018 for the third bi-monthly monetary policy statement for 2018-2019. The resolution of the MPC will be unveiled at 14:30 IST on 1 August 2018. RBI raised its benchmark policy repo rate by 0.25% to 6.25% in its second bi-monthly monetary policy for 2018-2019 on 6 June 2018.

Overseas, Asian shares were trading lower after Wall Street posted losses amid weakness in the technology sector. Growth in China's services industry in July moderated for the first time in five months, an official survey showed on Tuesday, a sign activity is slowing in a major part of the world's second largest economy. The official non-manufacturing Purchasing Managers' Index (PMI) fell to 54.0 from 55.0 in June, well above the 50-point mark that separates growth from contraction.

Meanwhile, investors are set to focus on the Bank of Japan's decision at the end of its policy meeting later in the day. The US Federal Reserve's Federal Open Market Committee, meanwhile, was due to begin its own monetary policy meeting on Tuesday US hours, with a decision due on Wednesday. The Fed is expected to keep rates steady at the end of its meeting.

On the US data front, US pending home sales rose 0.9% in June, the National Association of Realtors said Monday.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 234.04 crore yesterday, 30 July 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 48.58 crore yesterday, 30 July 2018, as per provisional data.

Stocks logged modest gains yesterday, 30 July 2018, on steady buying in index pivotals. The barometer index, the S&P BSE Sensex, rose 157.55 points or 0.42% to settle at 37,494.40. The Nifty 50 index rose 41.20 points or 0.37% to settle at 11,319.55. Both the Sensex and the Nifty hit record high on intraday as well as closing basis.