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Indices may open on buoyant note

Published on Apr 24, 2023 08:21

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 58 points at the opening bell.

Global markets:

Overseas, Asian stock markets are trading mixed on Monday, ahead of a busy week of key economic releases in the region. Investors will be closely watching the Bank of Japan monetary policy meeting later this week, the first to be led by new BOJ chief Kazuo Ueda.

Some Southeast Asian markets are closed today for a holiday, including Singapore, Malaysia and Indonesia. Singapore will release its inflation figures for March on Monday.

US stocks ended little changed Friday as investors evaluated the latest earnings results and concerns of disappointing profits. Investors mostly focused on corporate earnings, which were mixed.

Business activity in the U.S. accelerated by more than expected in April. S&P Global`s flash composite U.S. purchasing managers` index came in at 53.5, the highest mark in 11 months.

Domestic markets:

Back home, the major stock indices consolidated and closed almost unchanged on Friday, amid lack of any significant triggers, suggesting a sense of contemplation among investors. The barometer index, the S&P BSE Sensex advanced 22.71 points or 0.04% to 59,655.06. The Nifty 50 index lost 0.40 points to 17,624.05.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,116.76 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,632.66 crore in the Indian equity market on 21 April, provisional data showed.

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