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Indices may see buoyant start

Published on Dec 23, 2021 08:26

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 101 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Thursday, seeing a continued rebound from fears over the omicron Covid variant.

Investors will continue monitoring Covid developments after the Chinese city of Xi`an ordered its 13 million residents to stay at home as it deals with rising Covid cases, as per reports.

U.S. stocks rose on Wednesday, rallying for a second day as the market continued to rebound from a three-day losing streak spurred by fears about the omicron variant.

US economic growth slowed in the third quarter amid a flare-up in COVID-19 infections, the government confirmed on Wednesday. Gross domestic product increased at a 2.3% annualised rate, the Commerce Department said in its third reading of GDP growth for the July-September quarter.

The Food and Drug Administration on Wednesday granted emergency use authorization for Pfizer`s Covid pill, the first antiviral drug against the virus for at-home use.

Domestic markets:

Back home, key equity benchmarks ended with robust gains on Wednesday amid recovering global stock markets. The barometer index, the S&P BSE Sensex, jumped 611.55 points or 1.09% to 56,930.56. The Nifty 50 index added 184.60 points or 1.10% to 16,955.45.

Foreign portfolio investors (FPIs) sold shares worth Rs 827.26 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,593.41 crore in the Indian equity market on 22 December, provisional data showed.

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