Market Commentary - Pre-Session
SGX Nifty indicates firm opening As on : 26-Dec-22  08:36

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 72 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Monday as investors watched the COVID situation in China. Markets in Australia, New Zealand and Hong Kong remain closed for holidays.

As per reports, China will no longer publish daily figures for COVID-19 cases and deaths, the National Health Commission (NHC) said on Sunday, ending a practice that began in early 2020.

U.S. stocks eked out modest gains on Friday after data showed consumer spending and inflation slowed in November but not enough to discourage the Federal Reserve from driving interest rates to higher levels next year.

Domestic markets:

Back home, the equity benchmark indices crashed on Friday, correcting for the four straight session. The barometer index, the S&P BSE Sensex tumbled 980.93 points or 1.61% to 59,845.29. The Nifty 50 index lost 320.55 points or 1.77% to 17,806.80.

Foreign portfolio investors (FPIs) sold shares worth Rs 706.84 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,398.98 crore in the Indian equity market on 23 December, provisional data showed.

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