Market may open lower
Published on Jan 02, 2023 08:34
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 45 points at the opening bell.
Gross goods and services tax (GST) collection for December stood at Rs 1,49,507 crore, the data released by the finance ministry showed. This is a surge of 15% year-on-year, mainly driven by increase in retail prices of consumption items, high inflation, and action taken to ensure compliance.
Overseas, most Asian markets remain closed for New Year Day holiday.
U.S. stocks ended slightly lower on Friday to book their worst annual losses since 2008 amid worries about the economic and corporate earnings outlook.
Back home, domestic equity indices ended with modest losses on the last trading day of the calendar year 2022. The barometer index, the S&P BSE Sensex, declined 293.14 points or 0.48% to 60,840.74. The Nifty 50 index lost 85.70 points or 0.47% to 18,105.30.
Foreign portfolio investors (FPIs) sold shares worth Rs 2,950.89 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,266.20 crore in the Indian equity market on 30 December, provisional data showed.
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