Market Commentary - Pre-Session
SGX Nifty points at subdued opening As on : 26-May-23  08:27

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 39 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading subdued on Friday, apart from standout gains in Japan, as an artificial intelligence rally took a breather and as time ticked out on high-stakes talks to avoid a U.S. debt default.

Wall Street ended sharply higher on Thursday after a blowout forecast from Nvidia sent the chipmaker's stock soaring and fueled a rally in AI-related companies, while investors watched for signs of progress in U.S. debt ceiling talks.

US Republican negotiators on Thursday said some progress had been made in debt-ceiling talks, though a deal has not yet been reached.

Domestic markets:

Back home, the key equity indices ended with small gains on Thursday, with the Nifty closing above the 18,300 level. The barometer index, the S&P BSE Sensex rose 98.84 points or 0.16% to 61,872.62. The Nifty 50 index lost 35.75 points or 0.20% to 18,321.15.

Foreign portfolio investors (FPIs) bought shares worth Rs 589.10 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 338.44 crore in the Indian equity market on 25 May, provisional data showed.

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