Shares may inch higher at opening bell
Published on May 16, 2022 08:05
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 34 points at the opening bell.
The US Dow Jones index futures were down 162 points, indicating a weak opening in the US stocks on Monday.
Asian shares were mixed on Monday as investors watched for Chinese economic data. China will report data on April`s industrial production, retail sales, fixed asset investment and unemployment on Monday.
Markets in Singapore, Malaysia, Indonesia and Thailand are closed for a holiday on Monday.
US stock market witnessed a relief rally on Friday. The Dow rose 466.36 points, or 1.47%, while the S&P 500 climbed 2.39%. The Nasdaq Composite jumped 3.82% and posted its strongest one-day gain since November 2020. Still, all three averages posted losing weeks.
Domestic Equity Market:
The domestic equity indices ended with modest losses on Friday, 13 May 2022. Sharp sell-off in the last hour of trade forced the equity benchmarks to pare all gains and edge lower. The barometer index, S&P BSE Sensex fell 136.69 points or 0.26% at 52,793.62 . The Nifty 50 index lost 25.85 points or 0.16% at 15,782.15.
Foreign portfolio investors (FPIs) sold shares worth Rs 3,780.08 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,169.62 crore in the Indian equity market on 13 May 2022, provisional data showed.
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