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Market may open with small gains
07-May-18   07:55 Hrs IST

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 14.50 points at the opening bell.

Overseas, Asian shares were mixed despite the strong closing on Wall Street as investors digested last week's trade talks and US jobs numbers. US stocks logged sharp gains on Friday, 4 May 2018, as technology stocks rallied, overshadowing uncertainty over tense trade talks between the US and China and a weaker-than-expected rise in April nonfarm payrolls.

The US created 164,000 new jobs in April. Separately, the unemployment rate fell to 3.9% from 4.1%, the first time the jobless rate has dropped below 4% since the end of 2000.

Meanwhile, China and the US ended the second day of trade talks on Friday. Both sides recognise there are still big differences on some issues and that they need to continue to step up their work to make progress. The two sides exchanged views on expanding US exports to China, trade in services, bilateral investment, protection of intellectual property rights, resolution of tariffs and non-tariff measures.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 1628.23 crore on Friday, 4 May 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 1084.09 crore on Friday, 4 May 2018, as per provisional data.

Among corporate news, ICICI Bank, Tata Chemicals and Tata Coffee will announce January-March 2018 quarterly results today, 7 May 2018.

Key benchmark indices logged modest losses on Friday, 4 May 2018. The barometer index, the S&P BSE Sensex, lost 187.76 points or 0.53% to settle at 34,915.38. The Nifty 50 index fell 61.40 points or 0.57% to settle at 10,618.25. The Sensex and the Nifty, both, settled at over 1-week low.

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