Market Commentary - Pre-Session
SGX Nifty indicates lower opening As on : 18-Apr-23  08:30

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 35 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed as China's economy grew more than expected in the first quarter of 2023. China's gross domestic product rose by 4.5% in the first quarter of 2023, the National Bureau of Statistics said Tuesday. The economy expanded 2.9% in the fourth quarter of 2022.

The Reserve Bank of Australia warned of further tightening in monetary policy could come if needed, minutes released from its April meeting showed on Tuesday. The RBA kept its policy rate unchanged earlier this month.

US stocks rose on Monday as traders combed through the latest batch of corporate earnings results, searching for clues on the health of corporate America.

Domestic markets:

Back home, domestic equity benchmarks snapped their nine-day winning streak, with the BSE Sensex and Nifty 50 index witnessing a sharp correction on Monday. The S&P BSE Sensex declined by 520.25 points or 0.86% to 59,910.75, while the Nifty 50 index fell by 121.15 points or 0.68% to 17,706.85.

Foreign portfolio investors (FPIs) sold shares worth Rs 533.20 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 269.65 crore in the Indian equity market on 17 April, provisional data showed.

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