Market Commentary - Pre-Session
Indices may open flat; global stocks advance As on : 28-Feb-23  08:37

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could see a flat opening today.

India will release its gross domestic product for the fourth quarter of 2022 later today.

Global Markets:

The US Dow Jones index futures were up 42 points, indicating a positive opening in the US stocks today.

Asian stock markets were trading higher on Tuesday as investors digested key economic data across the region.

Japan recorded its worst decline in factory output in eight months, recording a 4.6% drop in January compared to December.

Japan's retail sales surged 6.3% for January compared to the same period last year.

Hong Kong will end its mask mandate for indoors and outdoors on Wednesday, 1 March 2023.

US stocks rose on Monday amid bargain hunting following the worst week of the year on Wall Street. All three major US indexes closed higher, with the Nasdaq Composite leading gains.

The Dow Jones Industrial average rose 72.17 points or 0.22%, while the S&P 500 and Nasdaq Composite gained 0.31% and 0.63%, respectively.

Domestic Equity Market:

Key equity indices declined for the seventh straight day on Monday, tracking weak Asian stocks. The barometer index, the S&P BSE Sensex declined 175.58 points or 0.30% to 59,288.35. The Nifty 50 index lost 73.10 points or 0.42% to 17,392.70.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,022.52 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 2,231.66 crore in the Indian equity market on 27 February 2023, provisional data showed.

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