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Stocks may open in positive zone

Published on Sep 06, 2022 08:38

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 24 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Tuesday ahead of the Reserve Bank of Australia`s rate decision. The Reserve Bank of Australia is expected to raise interest rates by a half point to 2.35%, as per reports.

US markets were closed on Monday on account of Labor Day.

In Europe, Mary Elizabeth Truss, prominently referred to as Liz Truss, was on September 5 announced as the next prime minister of the United Kingdom, after she defeated rival Rishi Sunak in the Conservative Party leadership race.

Crude oil prices rebounded after OPEC and key allies such as Russia agreed to cut production quotas by 100,000 barrels per day in October.

Domestic markets:

Back home, the headline equity indices registered impressive gains on Monday, shrugging off negative global cues. The barometer index, the S&P BSE Sensex, advanced 442.65 points or 0.75% to 59,245.98. The Nifty 50 index added 126.35 points or 0.72% to 17,665.80.

Foreign portfolio investors (FPIs) sold shares worth Rs 811.75 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 533.77 crore in the Indian equity market on 5 September, provisional data showed.

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