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SGX Nifty indicates firm opening

Published on Jan 12, 2023 08:42

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 47 points at the opening bell.

On the macro front, the Industrial Production and Manufacturing Production data for November will be released today. Inflation rate for December will also be declared today.

Global markets:

Overseas, Asian stocks as investors look ahead to the U.S. consumer price index report Thursday.

Inflation in China accelerated 1.8% in December compared with a year ago as food prices rose, data from the National Bureau of Statistics showed. The CPI figure was in line with expectations and higher than the previous month`s reading of 1.6%.

US stocks ended up sharply on Wednesday as investors were optimistic ahead of an inflation report that could give the Federal Reserve room to dial back on its aggressive interest rate hikes.

Domestic markets:

Back home, the domestic equity barometers ended a choppy session near the flat line on Wednesday. The barometer index, the S&P BSE Sensex declined 9.98 points or 0.02% to 60,105.50. The Nifty 50 index shed 18.45 points or 0.10% to 17,895.70.

Foreign portfolio investors (FPIs) sold shares worth Rs 3,208.15 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,430.62 crore in the Indian equity market on 11 January, provisional data showed.

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