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Market may open slightly higher

Published on Mar 28, 2022 08:21

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 13 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Monday as coronavirus lockdown in Shanghai looked set to hit global activity, while throwing another wrench into supply chains that could add to inflationary pressures.

U.S. stock benchmarks closed mostly higher Friday, following choppy trade, after oil prices rebounded on the back of reports of a missile strike on a Saudi Aramco facility and as investors continued to weigh rising interest rates.

New York Fed President John Williams on Friday said he would support a half-point move if justified but indicated it was premature to make a call on the size of a future rate increase.

Domestic markets:

Back home, the key equity benchmarks ended with modest losses on Friday. The barometer index, the S&P BSE Sensex fell 233.48 points or 0.41% to 57,362.20. The Nifty 50 index lost 69.75 points or 0.40% to 17,153.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,507.37 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,373.02 crore in the Indian equity market on 25 March, provisional data showed.

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