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SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 65 points at the opening bell. In economic data, the Industrial Production and Manufacturing Production data for May will be released today, 12 July 2021. Inflation rate for June is also due today, 12 July 2021. Global markets: Overseas, Asian stocks rose on Monday after their U.S. peers chalked fresh records Friday in a broad-based rebound. In economic news, China's central bank announced Friday a 50 basis points cut in its reserve requirement ratio for all banks, effective from July. The RRR represents the amount of money that banks must hold in their coffers as a proportion of their total deposits. A lowering of that required amount will increase the supply of money that banks can lend to businesses and individuals. The three major US stock indexes rallied to record closing highs on Friday as financials and other economically focused sectors rebounded after a selloff sparked by growth worries earlier in the week. Meanwhile, the G20 Finance Ministers on July 10 approved a global corporate tax of at least 15% to be imposed on multinational companies (MNCs) with an aim to end tax havens. In a two-day virtual meet headquartered from Venice (Italy), the Group also endorsed a broad agreement plan introducing new rules for taxation of cross-border businesses, as per reports. Details and negotiations of the rules are likely to be finalised during the next G20 meet scheduled in October 2021. Investors continued to watch the coronavirus situation in Asia-Pacific on Monday. Japan's government is set to put Tokyo under a new Covid state of emergency on Monday while stricter social distancing restrictions are set to kick in for the greater Seoul area in South Korea, as per reports. Elsewhere in Southeast Asia, several countries including Indonesia and Malaysia continue to struggle with a recent surge in infections, reports added. Domestic markets: Back home, the main equity indices ended a lacklustre trading session with small losses on Friday. The barometer index, the S&P BSE Sensex, skid 182.75 points or 0.35% at 52,386.19. The Nifty 50 index slipped 38.10 points or 0.24% at 15,689.80. Foreign portfolio investors (FPIs) sold shares worth Rs 1,124.65 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 106.55 crore in the Indian equity market on 9 July 2021, provisional data showed. Powered by Capital Market - Live News |