Market Commentary - Pre-Session
BSE, NSE likely to start higher on upbeat global cues As on : 28-Apr-23  08:11

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 75 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Friday after Wall Street logged one of its best days in the year, powered by earnings from Big Tech companies. Investors in Asia will be closely watching as the Bank of Japan concludes its monetary policy meeting today, the first under new BOJ governor Kazuo Ueda.

U.S. stocks closed sharply higher on Thursday thanks to upbeat results from bellwether tech firms, with Meta Platforms Inc, Microsoft Corp and Alphabet Inc soaring after reporting results.

Data showed that gross domestic product rose at an annual rate of 1.1% in the first quarter of the year. That was down from a 2.6% increase in the final three months of 2022.

Domestic markets:

Back home, the key equity indices ended with decent gains on Thursday, with the Nifty crossing 17,900 due to widespread buying across sectors. Trading was volatile due to expiry of April 2023 futures and options (F&O) contracts. The S&P BSE Sensex jumped 348.80 points or 0.58% to 60,649.38, rising for the sixth straight session. The Nifty 50 index rose 101.45 points or 0.57% to 17,915.05, rising for the fourth straight session.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,652.95 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 97.07 crore in the Indian equity market on 27 April, provisional data showed.

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