Slightly lower opening likely as trading resumes after long weekend
Published on Apr 10, 2023 08:25
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 7.5 points at the opening bell.
Overseas, Asian stocks are mostly higher on Monday as some investors returned from a long Easter weekend. Australian and Hong Kong markets remained closed due to a four day Easter holiday till Monday.
The US Stock Market, including the Nasdaq and New York Stock Exchange (NYSE), remained closed on Good Friday.
Investors are in for a busy week of economic data, including the latest consumer price index and producer price index data - due out Wednesday and Thursday, respectively - which will be key in determining if or when the Fed will pause or put an end to its rate hiking campaign.
Employment data for March indicated the labor market remained tight last month. Nonfarm payrolls increased by 236,000 jobs in March, the Labor Department said. Data for February was revised higher to show 326,000 jobs were added instead of 311,000 as previously reported. The unemployment rate dipped to 3.5% from 3.6% in the prior month.
Back home, the equity market rose for the fifth trading session on Thursday, after the Reserve Bank of India (RBI), in a surprise move, kept its key policy rate unchanged. The barometer index, the S&P BSE Sensex gained 143.66 points or 0.24% to 59,832.97. The Nifty 50 index added 42.10 points or 0.24% to 17,599.15. The domestic stock market will remain shut on Friday, 7 April 2023, on account of Good Friday.
Foreign portfolio investors (FPIs) bought shares worth Rs 475.81 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 997.08 crore in the Indian equity market on 6 April, provisional data showed.
Powered by Capital Market - Live News