Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 48 points at the opening bell. Investors are awaiting the outcome of the central bank's monetary policy meeting today, 7 August 2019. Cipla, HCL Technologies, Mahindra & Mahindra and Tata Steel will announce their Q1 June 2019 results today, 7 August 2019.

The Reserve Bank of India (RBI)'s third bi-monthly monetary policy committee (MPC) meeting started on 5 August 2019. The resolution of the MPC will be placed on the RBI website at 11:45 IST today, 7 August 2019.

Overseas, Asian stocks were mixed Wednesday as investors digested the Chinese central bank's daily midpoint fix for its currency's exchange rate against the dollar. The People's Bank of China (PBOC) set the the official midpoint reference for the yuan at 6.9996 per dollar. China's central bank allows the exchange rate to rise or fall 2% from that number.

US stocks rallied Tuesday after six days of declines as China stepped in to stabilize the yuan, easing concerns that currencies would be the next weapon in the US-China trade war.

Investors took fright Monday as China allowed the yuan to slump to its lowest level in a decade after President Donald Trump's threat last Thursday to impose 10% tariffs against an additional $300 billion of imported Chinese goods, effective Sept. 1.

Back home, the market edged higher on Tuesday after volatile session of trade. The Nifty trimmed gains after briefly crossing 11,000 mark as profit booking emerged at higher levels. The barometer index, the S&P BSE Sensex, rose 277.01 points or 0.75% to 36,976.85. The Nifty 50 index rose 85.65 points or 0.79% to 10,948.25.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 2170.93 crore yesterday, 6 August 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 2289.05 crore yesterday, 6 August 2019, as per provisional data.