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Market may open with small losses

Published on Feb 03, 2022 08:30

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 15 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Thursday amid some lingering concerns about global growth and ongoing geopolitical tensions. A number of major markets, including those on the Chinese mainland and in Hong Kong, remain shut for the Lunar New Year holidays.

US stocks rose for a fourth straight day Wednesday, as Alphabet propelled gains in tech thanks to strong quarterly earnings. Shares of Google-parent Alphabet surged after its quarterly numbers topped analyst expectations. The company also announced a 20-for-1 stock split.

On the data front, investors are awaiting the U.S. Labor Department`s nonfarm payroll count due Friday, which is seen as one of the major indicators of the how the U.S. economy is doing.

Meanwhile, geopolitical tensions in eastern Europe remained at heightened levels after the Pentagon reportedly said it will move some of its Europe-based forces further east and deploy additional U.S.-based troops to Europe.

Domestic markets:

Back home, domestic equity indices ended with robust gains on Wednesday, rising for the third straight session. The barometer index, the S&P BSE Sensex, added 695.76 points or 1.18% to 59,558.33. The Nifty 50 index advanced 203.15 points or 1.16% to 17,780.

Foreign portfolio investors (FPIs) sold shares worth Rs 183.60 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 425.96 crore in the Indian equity market on 2 February, provisional data showed.

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