Market Commentary - Pre-Session
Market may open higher As on : 14-Feb-23  08:42

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 14 points at the opening bell.

Higher food prices nudged up India's annual retail inflation in January to a three-month high of 6.52% from a 12-month low in December, showed government data on Monday. It was 5.72% in December and 6.01% in January 2022.

Global markets:

Overseas, Asian stocks are trading mixed on Tuesday as investors await the release of the U.S. consumer price index report, which will shape the Federal Reserve's path ahead.

Japan's economy expanded by 0.6% on an annualized basis for the fourth quarter of 2022. The figure was a rebound from a revised contraction of 1% seen in the third quarter of 2022 compared to a year ago.

Wall Street closed sharply higher on Monday as investors awaited inflation data likely to hint at the path of the Federal Reserve's future interest rate hikes, while Meta Platforms gained after a report that the Facebook parent was planning fresh layoffs.

Domestic markets:

Back home, domestic equities ended with modest losses on Monday, tracking mixed Asian cues. The barometer index, the S&P BSE Sensex declined 250.86 points or 0.41% to 60,431.84. The Nifty 50 index lost 85.60 points or 0.48% to 17,770.90.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,322.39 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 521.69 crore in the Indian equity market on 13 February, provisional data showed.

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