Market may open on strong note on upbeat global cues
Published on Aug 26, 2022 08:33
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 103 points at the opening bell.
Overseas, Asian stocks are trading higher on Friday as investors look ahead to Fed Chair Jerome Powell`s speech at Jackson Hole later stateside.
Wall Street ended sharply higher on Thursday, lifted by gains in Nvidia and other technology-related stocks as investors focused on the Federal Reserve`s Jackson Hole conference for clues about the central bank`s policy outlook.
Investors are awaiting the Jackson Hole economic symposium with Federal Reserve Chair Jerome Powell slated to speak Friday. Fed watchers expect him to reinforce the central bank`s goal of squashing inflation and keeping expectations about future price gains in check.
Back home, the benchmark indices ended with modest losses on Thursday. The barometer index, the S&P BSE Sensex, shed 310.71 points or 0.53% to 58,774.72. The Nifty 50 index declined 82.50 points or 0.47% to 17,522.45.
Foreign portfolio investors (FPIs) bought shares worth Rs 369.06 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 334.31 crore in the Indian equity market on 25 August, provisional data showed.
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