Market Commentary - Pre-Session
SGX Nifty hints at firm start As on : 23-May-23  08:26

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 29 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher even as talks between U.S President Joe Biden and House Speaker Kevin McCarthy ended without a deal.

US stocks ended the session mixed on Monday as talks in Washington resumed to avert a US default. President Joe Biden and House Speaker Kevin McCarthy said they had a productive talk on the debt ceiling. Treasury Secretary Janet Yellen said the chances are ?quite low that the US can pay all its bills by mid-June.

Domestic markets:

Back home, the domestic benchmark indices advanced for the second consecutive session on Monday, supported by expectations of progress in US debt-ceiling negotiations. The barometer index, the S&P BSE Sensex advanced 234 points or 0.38% to 61,963.68. The Nifty 50 index added 111 points or 0.61% to 18,314.40.

Foreign portfolio investors (FPIs) bought shares worth Rs 922.89 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 604.57 crore in the Indian equity market on 22 May, provisional data showed.

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