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Stocks may open with small gains

Published on Oct 19, 2022 08:11

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 25 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Wednesday as traders assessed a solid start to the corporate-earnings season that helped extend a rally in US markets.

Wall Street stocks closed higher and Treasury yields dipped on Tuesday as upbeat earnings and better-than-expected factory data stoked a risk-on rally.

Production at US factories spiked in September. Manufacturing output rose 0.4% last month, keeping pace with an upwardly revised 0.4% gain in August, the Federal Reserve said on Tuesday. Output increased 4.7% from a year earlier.

Domestic markets:

Back home, the domestic stock market ended with strong gains on Tuesday, amid favorable global & domestic cues. The S&P BSE Sensex surged 549.62 points or 0.94% to 58,960.60. The Nifty 50 index gained 175.15 points or 1.01% to 17,486.95.

Foreign portfolio investors (FPIs) sold shares worth Rs 153.40 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,084.71 crore in the Indian equity market on 18 October, provisional data showed.

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