MARKET EYE-SGX Nifty gains; FIIs sell index futures

* Nifty futures on the Singapore Exchange (SES: S68.SI – news) are up 0.28

percent and the MSCI (NYSE: MSCI – news) -Asia Pacific index excluding Japan

is 0.65 percent higher.

* Asian stocks opened to little fanfare on Thursday with

investors cautious as key events including the European Central

Bank meeting and the U.S. non-farm payrolls report loomed.

* Traders are worried as foreign investors resumed selling Index

futures in July after heavy selling in June. FIIs have sold

index futures worth 8.6 billion Indian rupees ($ 142.70 million)

in the previous two sessions, as per exchange and regulatory


* Foreign investors also sold cash shares worth 7.05 billion

Indian rupees ($ 116.98 million) on Wednesday.

* Investors add that U.S. non-farm payrolls data due this Friday

and the earnings season that begins next week, with Infosys Ltd (NYSE: INFY – news)

due to unveil its June-quarter results on June 12,

were the near-term cues to watch.

* The tender period for Unilever (NYSE: UL – news) open offer

for Hindustan Unilever Ltd (BSE: HUL.BO – news) ends later in the day.

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