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SGX Nifty indicates positive opening

Published on Oct 21, 2022 08:27

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 36 points at the opening bell.

Global markets:

Overseas, Asian stocks are mostly trading lower on Friday as investors await inflation data from several economies.

US stocks ended the session lower on Thursday after investors weighed generally upbeat earnings against the prospect that the Federal Reserve could hold firm on its aggressive policy for longer than they had hoped.

Remarks from Philadelphia Federal Reserve President Patrick Harker suggested the central bank will "keep raising rates for a while".

Meanwhile, British Prime Minister Liz Truss resigned Thursday, bringing to a close a brief 44-day tenure mired by �mini-budget� chaos, economic turmoil and political infighting. Truss said she will remain in place as caretaker prime minister until a successor is named, with a leadership contest expected to take place over the next week. Rishi Sunak, Penny Mordaunt and even former Prime Minister Boris Johnson are among the likely frontrunners to replace Truss.

Domestic markets:

Back home, the equity benchmark indices rose for the fifth straight session on Thursday. The barometer index, the S&P BSE Sensex, rose 95.71 points or 0.16% to 59,202.90. The Nifty 50 index gained 51.70 points or 0.30% to 17,563.95.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,864.79 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 886.80 crore in the Indian equity market on 20 October, provisional data showed.

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