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SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 22 points at the opening bell.
Global markets:
Overseas, Asian stocks are trading mixed on Wednesday as China kept its benchmark lending rate unchanged. China on Wednesday kept the one-year loan prime rate (LPR) unchanged at 3.85% while the five-year LPR was also held steady at 4.65%.
U.S. stocks climbed on Tuesday as major companies continued to report strong third-quarter earnings, easing concerns that persistent Covid cases and rising costs would derail corporate America's profit recovery.
The International Monetary Fund on Tuesday downgraded its 2021 economic growth forecast for Asia after the highly infectious Covid-19 delta variant caused a spike in cases in parts of the region. The IMF said it expects Asia's economy to grow by 6.5% in 2021, compared with its April forecast for a 7.6% expansion. The region's growth will be led by China and India, the fund added. The IMF expects China to grow 8% this year and India by 9.5% in the fiscal year that ends next March.
Domestic markets:
Back home, the equity barometers corrected on Tuesday, snapping a rally in the past seven sessions. The Sensex fell 49.54 points, or 0.08% at 61,716.05. The Nifty 50 index fell 58.30 points, or 0.32% to end at 18,418.75.
Foreign portfolio investors (FPIs) bought shares worth Rs 512.44 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,703.87 crore in the Indian equity market on 18 October, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 81 points at the opening bell.
Overseas, Asian stocks are trading higher on Tuesday as investors mulled corporate earnings as well as the prospect of tightening monetary policy to restrain inflation.
Minutes from the Reserve Bank of Australia's October monetary policy meeting showed the RBA expecting the Australian economy to “return to growth in the December quarter and to its pre-Delta path in the second half of 2022.”
In US, the S&P and Nasdaq closed higher on Monday with the biggest boosts from the highest-profile technology and communications companies while investors eyed product news from Apple Inc and appeared optimistic about the third-quarter earnings season.
U.S. industrial production declined in September as supply constraints continued to hinder manufacturing. Output fell almost 1.28% to its lowest level since February, when it fell 3.02%, according to data released Monday by the Federal Reserve.
Back home, the equity benchmarks rose for the seventh consecutive session and settled at record closing levels on Monday. The S&P BSE Sensex jumped 459.64 points or 0.75% to 61,765.59. The Nifty 50 index gained 138.50 points or 0.76% at 18,477.05.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 26 points at the opening bell.
Overseas, Asian stocks are mostly trading lower Monday as investors reacted to the release of key Chinese economic data.
China's economic growth continued to decelerate in the third quarter, as gross domestic product came in at 4.9%, softened by the country's zero-tolerance COVID measures and energy shortages. The figure slid from 7.9% for the April-to-June quarter, weighed down by high commodity prices amid uncertainty kindled by the Evergrande Group's debt crisis, which is piling risk onto the property and banking sectors.
US stocks rose on Friday as Goldman Sachs rounded out a week of strong quarterly earnings for the big banks.
Back home, benchmarks indices ended with strong gains on Thursday, extending their winning run to sixth consecutive session. Positive global stocks boosted sentiment. The barometer index, the S&P BSE Sensex, rallied 568.90 points or 0.94% to 61,305.95. The Nifty 50 index added 176.80 points or 0.97% to 18,338.55. The Indian stock market remained shut on Friday (15 October 2021) on account of Dussehra.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,681.60 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,750.59 crore in the Indian equity market on 14 October, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 78 points at the opening bell.
Overseas, Asian stocks are mostly higher as investors reacted to the release of China's inflation data for September. Markets in Hong Kong are closed on Thursday for a holiday.
Producer inflation surged in September, official data showed Thursday. The producer price index for September soared 10.7% as compared with a year ago. China's consumer price index also rose 0.7% in September as compared with a year ago.
Singapore's central bank unexpectedly tightened monetary policy on Thursday. Official advance estimates also showed Thursday that Singapore's economy grew 6.5% year-on-year in the third quarter of 2021.
In US, the S&P 500 and Nasdaq ended higher on Wednesday, led by gains in shares of big growth names like Amazon.com and Microsoft, but JPMorgan shares fell along with other bank shares and weighed on the market.
Minutes released Wednesday afternoon from the Federal Open Market Committee's September meeting showed the central bank could begin tapering its asset-purchase program as soon as mid-November.
Consumer prices rose 0.4% last month, slightly higher than August's gain and pushing annual inflation back to the highest increase in 13 years. The consumer price index rose 5.4% in September from a year ago, the Labor Department said Wednesday, up slightly from August's gain of 5.3%. Excluding the volatile food and energy categories, core inflation rose 0.2% in September and 4% compared with a year ago. Core prices hit a three-decade high of 4.5% in June.
Back home, domestic benchmark indices settled with strong gains on Wednesday, extending rise for the fifth straight session. The S&P BSE Sensex jumped 452.74 points or 0.75% at 60,737.05. The Nifty 50 index gained 169.80 points or 0.94% at 18,161.75. Both the indices attained record closing levels.
Foreign portfolio investors (FPIs) bought shares worth Rs 937.31 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 431.72 crore in the Indian equity market on 13 October, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 51 points at the opening bell.
On the macro front, India's retail inflation eased again in September, government data showed on Tuesday. Consumer price inflation fell sharply to 4.35% in September from 5.3% in August. The Consumer Price Index-based (CPI) inflation was at 7.27% in September 2020.
The Index of Industrial Production has risen 11.9% year-on-year for the month of August as against 11.5% in July, fresh data showed. Last year in August, the IIP had contracted 7.1%.
Overseas, Asian stocks are trading mixed on Wednesday as investors in Asia-Pacific looked ahead to the release of Chinese trade data for September.
The three major U.S. stock indexes closed lower for a third consecutive session Tuesday ahead of a key inflation reading and a kick-off to third-quarter earnings season.
The Federal Open Market Committee on Wednesday is also set to release its minutes from the September meeting. Investors will be digesting the minutes for any potential clues regarding the central bank's plans to pull back easy monetary policy.
The International Monetary Fund on Tuesday cut its global growth forecast, citing supply chain challenges and persistent Covid spread. The IMF said central banks like the Federal Reserve should be prepared to tighten monetary policy if inflation runs too hot.
Back home, domestic equity indices settled higher after a volatile session on Tuesday. The S&P BSE Sensex rose 148.53 points or 0.25% at 60,284.22. The Nifty 50 index rose 46 points or 0.26% to 17,991.95.
Foreign portfolio investors (FPIs) sold shares worth Rs 278.32 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 741.22 crore in the Indian equity market on 12 October, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 102 points at the opening bell.
On the macro front, September CPI is due along with August IIP data, later today. The government will also release September trade data.
Overseas, Asian stocks are trading lower on Tuesday on concerns about elevated inflation stoked by energy costs and the possibility of a widening Chinese crackdown on private industry.
Investors will monitor developments for cues. There is Bank of Korea policy decision and briefing on Tuesday and also Atlanta Fed president Raphael Bostic speaking on inflation.
US stocks ended a choppy session lower on Monday as investors grew nervous ahead of third-quarter earnings reporting season.
Meanwhile, Goldman on Monday cut its U.S. economic growth forecast. The firm lowered its 2022 growth estimate to 4% from 4.4% and took its 2021 estimate down a tick to 5.6% from 5.7%. The firm cited the expiration of fiscal support from Congress and a slower-than-expected recovery in consumer spending, specifically services.
Back home, equity benchmarks ended with decent gain on Monday, rising for the third straight session. The 30-share Sensex closed 76.72 points or 0.13% higher at 60,135.78. The Nifty rose 50.75 points or 0.28% to settle at 17,945.95.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,303.22 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 373.28 crore in the Indian equity market on 11 October, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 7 points at the opening bell.
Shares of TCS will on Monday, 11 October 2021 react to its result announced after market hours on Friday, 8 October 2021.
Overseas, Asian stocks are mostly trading higher on Monday as stocks in Hong Kong led gains regionally. Mainland Chinese stocks were also higher. Travel stocks in Singapore surged after Singapore authorities announced over the weekend that more “vaccinated travel lanes” are set to open with 8 more countries. Markets in South Korea are closed on Monday for a holiday.
U.S. stock indexes ended lower Friday with technology stocks under pressure as bond yields rose after a monthly report on the labor market came in much weaker than expected.
The Labor Department's nonfarm payrolls report showed the U.S. economy in September created the fewest jobs in nine months as hiring dropped at schools and some businesses were short of workers. The report said non-farm payroll employment rose by 194,000 jobs in September after climbing by an upwardly revised 366,000 jobs in August.
Despite the much weaker than expected job growth, the unemployment rate fell to 4.8% in September from 5.2% in August.
Back home, the domestic stock market ended with strong gains on Friday after the Reserve Bank of India's Monetary Policy Committee decided to maintain its status quo on interest rate. The barometer index, the S&P BSE Sensex, advanced 381.23 points or 0.64% to 60,059.06. The Nifty 50 index added 104.85 points or 0.59% to 17,895.20.
Foreign portfolio investors (FPIs) sold shares worth Rs 64.01 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 168.19 crore in the Indian equity market on 8 October, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 38 points at the opening bell.
The Reserve Bank of India (RBI) monetary policy is awaited. The six-member Monetary Policy Committee (MPC) of the central bank will make the interest rate decision today after a three-day meeting that began on October 6. As per reports, the MPC is likely to keep rates unchanged.
Fitch Ratings has cut India's economic growth forecast to 8.7% for the current fiscal but raised GDP growth projection for FY23 to 10%, saying the second COVID-19 wave delayed rather than derail the economic recovery. In its APAC Sovereign Credit Overview, Fitch Ratings said India's 'BBB-/Negative' sovereign rating "balances a still-strong medium-term growth outlook and external resilience from solid foreign- reserve buffers, against high public debt, a weak financial sector and some lagging structural factors".
Among stocks, IT major TCS will announce its Q2 results today, 8 October 2021. Infosys will announce Q2 results on 13 October 2021.
Overseas, Asian stocks are trading higher as markets on Wall Street rallied, while investors also eyed key US jobs data for any fresh insight into the timing of Federal Reserve tapering. Chinese stocks jumped on the first day of trade after a week-long holiday.
Activity in China's services sector returned to growth in September as a major COVID-19 outbreak in the eastern province of Jiangsu receded, a private-sector survey showed on October 8. The Caixin/Markit services Purchasing Managers' Index (PMI) rose to 53.4 from 46.7 in August.
US stocks rallied on Thursday as Senate leaders moved to avert a US debt default. Senate Majority Leader Chuck Schumer announced Thursday that lawmakers have reached a deal on a short-term debt ceiling increase after hours of discussion with Minority Leader Mitch McConnell.
Markets will look ahead to Friday's key September jobs report as the Federal Reserve prepares to slow its $120 billion-per-month bond-buying program.
Back home, the domestic equity indices settled with significant gains on Thursday. Positive global cues and robust quarterly business updates by domestic firms supported buying. The barometer index, the S&P BSE Sensex, surged 488.10 points or 0.82% to 59,677,83. The Nifty 50 index added 144.35 points or 0.82% to 17,790.35.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,764.25 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,528.64 crore in the Indian equity market on 7 October, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could jump 137 points at the opening bell.
The Reserve Bank of India's (RBI) monetary policy committee (MPC) three-day meeting is underway today, 7th October 2021. The MPC will announce its interest rate decision on Friday, 8 October 2021.
IT major TCS will announce its Q2 results on Friday, 8 October 2021. Infosys will announce Q2 results on 13 October 2021.
Overseas, Asian stocks are trading higher on Thursday, with Hong Kong stocks leading gains. Mainland China markets remain closed on Thursday for the holidays.
Wall Street ended higher on Wednesday as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default.
US private payrolls increased more than expected in September as COVID-19 infections started subsiding, boosting hiring at restaurants and other high-contact businesses. Private payrolls increased by 568,000 jobs last month, the ADP National Employment Report showed. Data for August was revised lower to show 340,000 jobs added instead of the initially reported 374,000.
Investors are awaiting payrolls data due Friday, with investors anticipating that a reasonable figure will mean the US Federal Reserve will begin tapering its massive stimulus programme at its November meeting.
Back home, the equity barometers ended with steep losses on Wednesday, snapping gains in the past two sessions. The barometer index, the S&P BSE Sensex, plunged 555.15 points or 0.93% to 59,189.73. The Nifty 50 index tumbled 176.30 points or 0.99% to 17,646.
Foreign portfolio investors (FPIs) sold shares worth Rs 802.81 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 998.69 crore in the Indian equity market on 6 October, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 34 points at the opening bell.
The Reserve Bank of India's (RBI) monetary policy committee (MPC) three-day meeting begins today, 6th October 2021. The MPC will announce its interest rate decision on Friday, 8 October 2021.
Ratings agency Moody's hiked India's sovereign credit rating outlook to stable from negative, citing an improvement in the financial sector and faster-than expected economic recovery across sectors. "The decision to change the outlook to stable reflects Moody's view that the downside risks from negative feedback between the real economy and financial system are receding," Moody's said in a report on October 5. It said that with higher capital cushions and greater liquidity, banks and non-bank financial institutions pose much lesser risk to the sovereign than previously anticipated.
Overseas, Asian stocks are trading mixed on Wednesday, following an overnight bounce on Wall Street with stocks rebounding from Monday's losses. Mainland Chinese markets remain closed on Wednesday for the holidays.
The Reserve Bank of New Zealand (RBNZ) on Wednesday raised its official cash rate to 0.5%, joining South Korea and Norway in being among the earliest countries to raise rates in the pandemic era.
“The Committee noted that further removal of monetary policy stimulus is expected over time, with future moves contingent on the medium-term outlook for inflation and employment,” the RBNZ said in a release.
In US, the major averages rebounded on Tuesday following a technology-centered market rout in the previous session.
In Washington, lawmakers are still trying to agree to raise or suspend the U.S. borrowing limit and avert a dangerous first-ever default on the national debt. The Treasury Department warned last week that lawmakers must address the debt ceiling before October 18 when officials estimate the U.S. will exhaust emergency efforts to honor its bond payments.
Treasury Secretary Janet Yellen said Tuesday she believes the economy would fall into a recession if Congress fails to raise the debt ceiling before a default on the U.S. debt.
Investors are readying for the closely watched jobs report, which will be released on Friday.
The US trade deficit increased to a record $73.3 billion in August as a small gain in exports was swamped by a much larger increase in imports. The Commerce Department reported Tuesday that the monthly trade deficit increased 4.2% in August, rising to an all-time high, surpassing the previous record of $73.2 billion set in June.
Back home, the equity benchmarks recovered from early lows and climbed for the second session in a row. The barometer index, the S&P BSE Sensex, jumped 445.56 points or 0.75% to 59,744.88. The Nifty 50 index added 131.05 points or 0.74% to 17,822.30.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,915.08 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,868.23 crore in the Indian equity market on 5 October, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 119 points at the opening bell.
The Markit India PMI Services for September will be released today.
In the near term, the Reserve Bank of India's (RBI) monetary policy committee (MPC) is scheduled to meet during 6th to 8th October 2021. The MPC will announce its interest rate decision on Friday, 8 October 2021.
Overseas, Asian stocks are trading lower on Tuesday following overnight losses on Wall Street, with the tech-heavy Nasdaq Composite falling more than 2%. Markets in mainland Chinese are closed through Thursday for the Golden Week holidays.
U.S. stock benchmarks end lower Monday as concerns about sticker-than-expected inflation grow on rising oil prices. A selloff for stocks deepened Monday, with markets succumbing to pressure in technology and tech-related stocks.
On Monday, the Organization of the Petroleum Exporting Countries and its allies kept their current agreement to gradually raise crude production each month, including a 400,000 barrels a day increase in November.
In U.S.-China relations, President Biden's top trade negotiator, U.S. Trade Rep. Katherine Tai, was reportedly quoted on Monday as saying that China has failed to live up to its commitments under an agreement signed last year.
New orders for US-made goods accelerated in August. The Commerce Department said on Monday that factory orders increased 1.2% in August. Data for July was revised higher to show orders rising 0.7% instead of gaining 0.4% as previously reported.
Back home, the key equity indices snapped a four-day losing streak and ended with strong gains on Monday. The barometer index, the S&P BSE Sensex, surged 533.74 points or 0.91% to 59,299.32. The Nifty 50 index added 159.20 points or 0.91% to 17,691.25.
Foreign portfolio investors (FPIs) bought shares worth Rs 860.50 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 228.06 crore in the Indian equity market on 4 October, provisional data showed.
Trends on SGX Nifty indicate a flat-to-positive opening for the Indian stocks.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 10 points at the opening bell.
Overseas, Asian stocks are trading mixed on Monday after Merck announced its new Covid oral antiviral treatment that cuts the risk of hospitalization or death. Markets in China are closed for most of this week for a holiday and are set to reopen on Friday. South Korean markets are also closed on Monday for a holiday.
Trading in the Hong Kong-listed shares of China Evergrande was halted on Monday as investors continue to monitor the situation surrounding the indebted developer. The property giant has missed two bond interest payments in the past weeks.
Merck and Ridgeback Biotherapeutics announced Friday they've developed a drug which reduces the risk of hospitalization or death by around 50% in Covid patients. If authorized by regulatory bodies, the drug could be the first oral antiviral medicine for Covid. The companies plan to seek emergency authorization for the antiviral Covid treatment after the medicine showed “compelling results” in clinical trials.
Wall Street stocks surged to a higher close on Friday boosted by positive economic data, progress in the battle against COVID, and Washington developments on the potential passage of an infrastructure bill.
Back home, benchmark indices ended with steep losses on Friday, declining for the fourth session in a row. The S&P BSE Sensex, declined 360.78 points, or 0.61% to 58,765.58. The Nifty 50 index fell 86.10 points or 0.49% to 17,532.05.
Foreign portfolio investors (FPIs) bought shares worth Rs 131.39 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 613.08 crore in the Indian equity market on 1 October, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 140 points at the opening bell.
The Markit Manufacturing PMI data for September will be declared today, 1 October 2021.
The output of India's eight core industries grew by 11.6% in August compared with 9.9% in the previous month even as the base effect was less beneficial. The core sector, comprising coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and electricity, had contracted 6.9% in August last year, as against 7.6% in July.
Auto stocks will be in focus as auto companies will start announcing monthly sales numbers for September starting from today, 1 October 2021.
Overseas, Asian stocks slipped on Friday following an overnight drop on Wall Street. Markets in Hong Kong are closed for a holiday on Friday, while those in mainland China are closed for the Golden Week holiday from Friday till October 7.
Japan's factory activity grew at the slowest rate in seven months in September as overall output and new orders shrank due to the fallout from the coronavirus pandemic, a survey showed on Friday. The final au Jibun Bank Japan Manufacturing Purchasing Managers' Index (PMI) in September slipped to 51.5 on a seasonally adjusted basis from 52.7 in the previous month.
Wall Street ended sharply lower on Thursday wracked by concerns over COVID-19, inflation fears and budget wrangling in Washington.
Investors were also keeping an eye on Washington as Congress passed a bill that would fund the government through early December. The bill would avert a government shutdown but Congress still has not raised the debt ceiling, which Treasury Secretary Janet Yellen says will be reached on October 18.
Yellen and Fed Chair Jerome Powell testified before the House Financial Services Committee on Thursday. Yellen reiterated her call for Congress to raise the debt ceiling, saying that failure to do so would be “catastrophic.”
Back home, the equity benchmarks declined for the third session on Thursday amid lack of fresh triggers and mixed global cues. A spike in U.S. benchmark bond yields and a strong dollar capped gains in equities. The barometer index, the S&P BSE Sensex, fell 286.91 points or 0.48% at 59,126.36. The Nifty 50 index fell 93.15 points or 0.53% at 17,618.15.
Foreign portfolio investors (FPIs) sold shares worth Rs 2,225.60 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 97.18 crore in the Indian equity market on 30 September, provisional data showed.
Trading could be volatile today traders roll over positions in the F&O segment from the near month September series to October series. The September 2021 F&O contracts expires today, 30 September 2021.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 47 points at the opening bell.
Overseas, Asian stocks are trading mixed on Thursday as investors reacted to the release of Chinese factory activity data for September. China's official manufacturing Purchasing Managers' Index for September came in at 49.6. Meanwhile, a private survey on Chinese factory activity in September came in above expectations, with the Caixin/Markit manufacturing PMI for the month rising to 50 for the month as compared with August's reading 49.2.
In China, investors continue to monitor the situation at China Evergrande Group. As per reports, some bondholders did not receive a due coupon payment by the close of Asia business hours on Wednesday.
Wall Street ended firmer on Wednesday in a partial rebound from the previous day's broad sell-off, with remarks from US Federal Reserve Chairman Jerome Powell and the ongoing debt ceiling debate keeping a lid on gains. The S&P 500 index and the Dow Jones Industrial Average advanced, but the Nasdaq Composite closed lower.
Federal Reserve Chair Jerome Powell and his counterparts in Japan, Europe and the U.K. voiced cautious optimism that supply-chain disruptions lifting inflation rates around the world would ultimately prove temporary.
Back home, key indices ended with modest losses on Wednesday, tracking mixed Asian cues. The barometer index, the S&P BSE Sensex, fell 254.33 points or 0.43% to 59,413.27. The Nifty 50 index fell 37.30 points or 0.21% to 17,711.30.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,896.02 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,262.16 crore in the Indian equity market on 29 September, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 89 points at the opening bell.
Overseas, Asian stocks are trading lower on Wednesday following an overnight tumble on Wall Street and bond yields spiked on concerns about inflation.
Investors watched the 10-year Treasury yield, which crossed the 1.5% mark on Monday and has continued rising and was last sitting at 1.553%. Yields move inversely to prices.
U.S. stocks fell sharply on Tuesday, with tech names dragging down the broader markets as Treasury yields traded near three-month highs and lawmakers in Washington continued their budget stalemate.
Also weighing on sentiment was a budget showdown in Washington. Senate Republicans blocked a House-passed bill Monday that would have funded the government into December and suspended the debt ceiling until December of 2022.
Congress must approve government funding by Friday to avoid a shutdown, and Treasury Secretary Janet Yellen warned Congress in a letter on Tuesday that lawmakers need to raise the debt limit by October 18 to avoid a government default. President Biden's massive infrastructure plan also faces an uncertain future.
Back home, the key equity indices ended with steep losses on Tuesday, snapping their three-day rising streak. The barometer index, the S&P BSE Sensex, declined 410.28 points or 0.68% to close at 59,667.60. The Nifty 50 index fell 106.50 points or 0.60% to close at 17748.60.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,957.70 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 161.45 crore in the Indian equity market on 28 September, provisional data showed.