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Market may extend recent gains

Published on Oct 19, 2021 08:20

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 81 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Tuesday as investors mulled corporate earnings as well as the prospect of tightening monetary policy to restrain inflation.

Minutes from the Reserve Bank of Australia`s October monetary policy meeting showed the RBA expecting the Australian economy to �return to growth in the December quarter and to its pre-Delta path in the second half of 2022.�

In US, the S&P and Nasdaq closed higher on Monday with the biggest boosts from the highest-profile technology and communications companies while investors eyed product news from Apple Inc and appeared optimistic about the third-quarter earnings season.

U.S. industrial production declined in September as supply constraints continued to hinder manufacturing. Output fell almost 1.28% to its lowest level since February, when it fell 3.02%, according to data released Monday by the Federal Reserve.

Domestic markets:

Back home, the equity benchmarks rose for the seventh consecutive session and settled at record closing levels on Monday. The S&P BSE Sensex jumped 459.64 points or 0.75% to 61,765.59. The Nifty 50 index gained 138.50 points or 0.76% at 18,477.05.

Foreign portfolio investors (FPIs) bought shares worth Rs 512.44 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,703.87 crore in the Indian equity market on 18 October, provisional data showed.

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