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Market may open higher; volatility may zoom on F&O expiry

Published on Apr 28, 2022 08:30

Trading could be volatile as traders roll over positions in the F&O segment from the near month April series to May series. The April 2022 F&O contracts will expire today, 28 April 2022.

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 21 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Thursday, as investors in the region look ahead to the Bank of Japan`s latest monetary policy decision. Meanwhile, Chinese tech stocks rose, boosted by news to support the economy.

Investors in Asia-Pacific have been continuing to monitor developments surrounding the Covid situation in mainland China. Chinese President Xi Jinping on Tuesday called for an �all-out� effort to construct infrastructure. His comments come as mainland China has since March been facing its worst outbreak of Covid-19 since the initial shock of the pandemic in early 2020.

Japan`s retail sales rose more than expected in March, according to government data released Thursday. Retail sales gained 0.9% in March as compared with a year earlier.

U.S. stocks edged higher in choppy trading Wednesday, clawing back some of their losses after selling off sharply a day earlier.

The US trade deficit in goods widened to a record high in March. The goods trade deficit jumped 17.8% to an all-time high of $125.3 billion. The increase likely reflected both higher volumes and prices. Imports of goods accelerated 11.5% to $294.6 billion. They were boosted by a 15.% surge in imports of industrial supplies, which include petroleum products.

Domestic markets:

Back home, domestic equity benchmarks ended a volatile trading session with modest losses on Wednesday. The barometer index, S&P BSE Sensex dropped 537.22 points or 0.94% at 56,819.39. The Nifty 50 index fell 162.40 points or 0.94% at 17,038.40.

Foreign portfolio investors (FPIs) sold shares worth Rs 4,064.54 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,917.51 crore in the Indian equity market on 27 April, provisional data showed.

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