Market Commentary - Pre-Session
SGX Nifty hints at positive opening As on : 14-Jun-23  08:41

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 46 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed after slowing U.S. inflation solidified bets that the Federal Reserve would skip a hike later in the day, but uncertainty remained about further rate increases beyond this week.

US stocks closed higher on Tuesday after traders spent the session adding to optimism that the latest inflation data could support the central bank skipping a rate hike for June.

Markets would be focusing on the post-policy press conference from Fed Chair Jerome Powell and whether the dot plot would signal any hikes ahead.

The much-watched U.S. CPI report overnight showed prices barely rose in May, with just a 0.1% increase from the prior month. On an annual basis, consumer prices rose 4%, the smallest in more than two years, slowing from April's 4.9%.

Domestic markets:

Back home, the domestic benchmarks ended near the day's high with strong gains on Tuesday. The barometer index, the S&P BSE Sensex advanced 418.45 points or 0.67% to 63,413.16. The Nifty 50 index rose 114.65 points or 0.62% to 18,716.15.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,677.60 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 203.32 crore in the Indian equity market on 13 June, provisional data showed.

Powered by Capital Market - Live News