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SGX Nifty indicates rally in early trade

Published on Feb 25, 2022 08:31

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could jump 283 points at the opening bell.

Meanwhile, the market regulator Securities and Exchange Board of India (Sebi) on February 24 issued an updated circular wherein it has extended the deadline to implement the new systems of compliance pertaining to segregation and monitoring of collateral at client level. The new date for implementation has now been fixed as 2 May 2022.

Global markets:

Overseas, Asian stocks rose on Friday as investors assessed the Russia-Ukraine conflict following a massive comeback on Wall Street overnight.

U.S. President Joe Biden on Thursday reportedly said Washington will seek to isolate Russia from the global economy by introducing new sanctions following Moscow`s invasion of Ukraine. The White House has also authorized additional troops to be stationed in Germany as NATO allies look to bolster defenses in Europe, Biden said.

The European Union also agreed to more sanctions on Russia, calling on the country to stop all military action and withdraw its forces.

US stocks ended sharply higher on Thursday in a dramatic market reversal as US President Joe Biden unveiled harsh new sanctions against Russia after Moscow began an all-out invasion of Ukraine.

Domestic markets:

Back home, the domestic stock market was hammered on Thursday, after Russian forces invaded Ukraine. The barometer index, the S&P BSE Sensex, tumbled 2,702.15 points or 4.72% at 54,529.91. The Nifty 50 index slumped 815.30 points or 4.78% at 16,247.95. Both the indices have fallen over 6.2% in seven consecutive sessions.

Foreign portfolio investors (FPIs) sold shares worth Rs 6,448.24 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 7,667.75 crore in the Indian equity market on 24 February, provisional data showed.

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