Market Commentary - Pre-Session
SGX Nifty indicates lower opening As on : 20-Dec-22  08:14

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 30 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mostly lower as the People's Bank of China kept its key lending rates steady, in line with expectations. The People's Bank of China maintained its one-year loan prime rate at 3.65% and its five-year loan prime rate at 4.30%.

Investors are awaiting the Bank of Japan (BOJ)'s monetary decision. As per reports, the BOJ is expected to maintain its ultra-dovish monetary policy stance.

US stocks closed lower on Monday for a fourth straight session as investors shied away from riskier bets, worried the Federal Reserve's tightening campaign could push the US economy into a recession.

Domestic markets:

Back home, domestic stock markets settled with decent gains on Monday. The barometer S&P BSE Sensex advanced 468.38 points or 0.76% to 61,806.19. The Nifty 50 index added 151.45 points or 0.83% to 18,420.45.

Foreign portfolio investors (FPIs) sold shares worth Rs 538.10 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 687.38 crore in the Indian equity market on 19 December, provisional data showed.

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