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Nifty Futures Indicate Positive Start; Cox & Kings In Focus

Jul 02, 2019

The S&P BSE Sensex and NSE Nifty 50 Indexes are set to open higher as indicated by the Nifty futures traded on Singapore Exchange. 

Nifty futures on Singapore Exchange also known as the SGX Nifty rose 0.13 per cent or 15 points to 11,918. Meanwhile, Asian shares were choppy on Tuesday as weak global manufacturing activity reinforced worries about slowing world growth, while the initial enthusiasm over a Sino-US trade truce gave way to uncertainty over whether the two nations can strike a durable deal.

 Further dragging on sentiment was the US government's threat on Monday of tariffs on $4 billion of additional European Union goods, in a long-running dispute over aircraft subsidies.

 Global shares had rallied on Monday after the United States and China agreed on the weekend to restart trade negotiations aimed at resolving their nearly year-long trade war and Washington said it would postpone further tariffs.

 Despite losing some of its initial steam, the S&P 500 still managed to close at a record high after the United States and China agreed on Saturday to resume trade talks. In addition, President Donald Trump also offered concessions including no new tariffs and an easing of restrictions on Huawei Technologies Co Ltd, while China agreed to make unspecified new purchases of US farm products.

 Back home, Cox & Kings will be on focus today after it defaulted on principal payment of its commercial paper worth Rs. 50 crore. Meanwhile, ratings agency CARE Ratings has downgraded ratings of its commercial papers worth Rs. 375 crore to Care D from CARE A+.

 Shares of automobile companies will also be in focus as they would react to the monthly sales numbers posted by them in the month of June.

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