Market Commentary - Pre-Session
SGX Nifty hints at weak opening As on : 10-Feb-23  08:43

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 100 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Friday, following moves on Wall Street as China's inflation data came in lower than expected. Consumer prices in the nation rose 2.1% in January compared to a year ago.

Japan's wholesale prices rose 9.5% in January from the previous year, slightly lower than the revised figure of 10.5% recorded in December 2022.

Australia's central bank on Friday said inflation remains high and hinted at further interest rates hikes. In its quarterly monetary statement, RBA observed global inflation is still very high but “looks to have peaked.” “The Board expects that further increases in interest rates will be needed to ensure that the current period of high inflation is only temporary,” said RBA.

US stocks closed lower Thursday as concerns over the Federal Reserve's future moves on monetary policy offset excitement around the latest batch of corporate earnings.

Domestic markets:

Back home, the key benchmark indices with small gains on Thursday. The S&P BSE Sensex gained 142.43 points or 0.23% to 60,806.22. The Nifty 50 index added 21.75 points or 0.12% to 17,893.45.

Foreign portfolio investors (FPIs) sold shares worth Rs 144.73 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 205.25 crore in the Indian equity market on 9 February, provisional data showed.

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