Market may rise at opening bell

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 52.50 points at the opening bell.

Global Markets:

The US Dow Jones index futures were up 47 points, indicating a flat to positive opening in the US stocks today.

Asian shares rose on Thursday after Wednesday`s negative session. In China, the central bank kept its one-year medium-term lending facility (MLF) unchanged at 2.75%.

US indices ended a choppy session on a modestly higher note. The Dow closed slightly higher, by 30 points, after falling more than 200 points at one point. The S&P 500 rose 0.3%, and the Nasdaq Composite advanced 0.7%.

US Inflation rose more than expected in August as rising shelter and food costs offset a drop in gas prices, the Bureau of Labor Statistics reported Tuesday. The consumer price index, which tracks a broad swath of goods and services, increased 0.1% for the month and 8.3% over the past year. Excluding volatile food and energy costs, CPI rose 0.6% from July and 6.3% from the same month in 2021.

Domestic Equity Market:

The key equity indices ended a volatile session with minor losses on Wednesday, snapping a four-day rising streak. The Nifty managed to close above the 18,000 mark after hitting the day`s low of 17,771.15 in the early trade. Domestic shares opened with deep losses today amid dismal global cues. The barometer index, the S&P BSE Sensex slipped 224.11 points or 0.37% to 60,346.97. The Nifty 50 index declined 66.30 points or 0.37% to 18,003.75. The Sensex climbed 2.61% while the Nifty gained 2.53% in the past four trading sessions.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,397.51 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 187.58 crore in the Indian equity market on 14 September 2022, provisional data showed.

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