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Market may open on firm note

Published on Mar 21, 2022 08:32

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 95 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Monday, as investors reacted to the release of China`s latest benchmark lending rate. China`s one-year loan prime rate was kept unchanged at 3.7% on Monday. Markets in Japan are closed on Monday for a holiday.

Wall Street`s three major indexes closed higher on Friday, with the biggest boost from recently battered technology stocks, after talks between U.S. President Joe Biden and Chinese President Xi Jinping over the Ukraine crisis ended without big surprises.

Domestic markets:

Back home, equity indices settled with robust gains on Thursday, rising for the second trading session. The barometer index, the S&P BSE Sensex, gained 1,047.28 points or 1.84% to 57,863.93. The Nifty 50 index rallied 311.70 points or 1.84% to 17,287.05. Indian stock markets were closed on Friday, March 18, on account of Holi.

Foreign portfolio investors (FPIs) bought shares worth Rs 2,800.14 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 678.45 crore in the Indian equity market on 17 March, provisional data showed.

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