SGX Nifty indicates positive opening
13-Dec-22   08:32 Hrs IST

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 31 points at the opening bell.

On the macro front, India's headline retail inflation rate slumped to an 11-month low of 5.88% in November from 6.77% in the previous month, data released yesterday showed.

India's factory output, which is measured in IIP witnessed a contraction of 4% on-year to 129.6 in October. The IIP had risen 4.2% in October 2021, the data showed.

Global markets:

Overseas, Asian stocks are trading mixed as investors look ahead to a highly anticipated Federal Reserve meeting and U.S. CPI data.

US stocks indexes rallied on Monday, lifted in part by gains in Microsoft and Pfizer, as investors girded for inflation data on Tuesday and a policy announcement from the Federal Reserve later in the week.

The Federal Reserve is set to begin its two-day meeting on Tuesday. Economists widely expect the U.S. central bank to raise rates by half a percentage point Wednesday. The latest reading for the U.S. consumer price index report for November is also slated for Tuesday. Traders are hoping for signs of easing inflation.

Domestic markets:

Back home, domestic equity benchmark indices ended almost flat on Monday. The barometer index, the S&P BSE Sensex, declined 51.10 points or 0.08% to 62,130.57. The Nifty 50 index rose 0.55 points or 0.01% to 18,497.15.

Foreign portfolio investors (FPIs) sold shares worth Rs 138.81 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 695.60 crore in the Indian equity market on 12 December, provisional data showed.

Powered by Capital Market - Live News