Market Commentary - Pre-Session
SGX Nifty hints at firm opening As on : 20-Apr-23  08:06

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 42 points at the opening bell.

Global markets:

Overseas, Asian stocks are largely lower on Thursday as investors on Wall Street digest more earnings reports from names like Netflix, IBM and Morgan Stanley.

Japan posted a trade deficit for a 20th consecutive month in March. The country's trade deficit reached a record high of 21.7 trillion yen ($161.14 billion) for the twelve months ending March, a sharp spike from the 5.59 trillion yen recorded in the same period a month ago.

US stocks closed mostly flat on Wednesday after earnings reports from Netflix and Morgan Stanley as investors worried about the Federal Reserve's next move on interest rates.

The banking crisis in March took its toll on financial activity, particularly in the New York and San Francisco regions, according to the Federal Reserve's periodic economic review released Wednesday.

Domestic markets:

Back home, the major stock indices experienced their third consecutive decline on Wednesday. The S&P BSE Sensex, which serves as a barometer index, fell 0.27%, or 159.21 points, to reach 59,567.80. Likewise, the Nifty 50 index decreased by 0.23%, or 41.40 points, to close at 17,618.75.

Foreign portfolio investors (FPIs) sold shares worth Rs 13.17 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 110.42 crore in the Indian equity market on 19 April, provisional data showed.

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