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SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 47 points at the opening bell.
Global markets:
Overseas, most Asian stocks ae trading higher as investors look ahead to the U.S. jobs report due later this week for clues about how long the Fed will stay on hold. The U.S. jobs report — one of the most influential economic reports in global financial markets — for April is due on Friday.
U.S. stocks rebounded on Wednesday as strong earnings results and economic optimism pushed the Dow Jones Industrial Average to a record high.
The Biden administration announced Wednesday that it supports waiving intellectual patent protections for Covid-19 vaccines, as countries struggle to manufacture the life-saving doses.
Domestic markets:
Back home, benchmark indices ended with strong gains on Wednesday after the Reserve Bank of India (RBI) announced measures to tackle the rising second wave of COVID-19 pandemic. The S&P BSE Sensex, rallied 424.04 points or 0.88% to 48,677.55. The Nifty 50 index gained 121.35 points or 0.84% to 14,617.85.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,110.50 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 240.61 crore in the Indian equity market on 5 May, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 52 points at the opening bell.
Investors will await the address by RBI Governor Shaktikanta Das scheduled for 10:00 IST today.
Overseas, Asian shares are trading lower on Wednesday as sentiment took a knock from a selloff in large cap Wall Street tech stocks, even as some of the other major Asia-Pacific markets are closed for the day. Markets in China and Japan remain closed for public holidays. South Korean markets are also shut.
In US, the Nasdaq fell more than 2% on Tuesday as steep declines in megacap growth stocks pushed Wall Street below record trading levels, with investors seeking shelter in more defensive parts of the market.
U.S. Treasury Secretary Janet Yellen said Tuesday that interest rates may have to rise to keep a lid on the burgeoning growth of the U.S. economy brought on in part by trillions of dollars in government stimulus spending. The former Fed chair later tempered her comments somewhat on the need for higher rates, saying she respects the Federal Reserve's independence and was not trying to influence decision-making there.
Back home, the domestic equity indices ended with steep losses on Tuesday as mixed global cues and rising COVID-19 cases weighed on investors sentiment. The barometer index, the S&P BSE Sensex, fell 465.01 points or 0.95% at 48,253.51. The Nifty 50 index declined 137.65 points or 0.94% at 14,496.50.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,772.37 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 987.34 crore in the Indian equity market on 4 May, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 13 points at the opening bell.
Overseas, Asian stocks are trading mixed on Tuesday with major markets in Japan and China still closed for holidays.
In US, the S&P 500 and the Dow indexes ended higher on Monday amid a largely upbeat earnings season, while the Nasdaq came under pressure from declines in some high-flying growth stocks, as the rotation into cyclical and “economy reopening” stocks continued.
New York Governor Andrew Cuomo announced that most capacity restrictions will be lifted across New York, New Jersey and Connecticut, while 24-hour subway service will resume in New York City later this month.
The U.S. economy is doing better but is “not out of the woods yet,” Federal Reserve Chair Jerome Powell reportedly said on Monday in remarks that flagged an upcoming central bank study documenting the disproportionate blow suffered by the less educated and working parents during the coronavirus downturn.
U.S. manufacturing activity grew at a slower pace in April. The ISM's index of national factory activity fell to a reading of 60.7 last month after surging to 64.7 in March, which was the highest level since December 1983.
Back home, the 30-share Sensex staged a strong recovery in late trade and ended with small losses after a volatile session on Monday. The Nifty ended almost flat near the 14,650 level after opening below the 14,500 mark. Mounting COVID-19 cases continued in the country and a negative trend in Asian equities capped gains. The barometer index, the S&P BSE Sensex, fell 63.84 points or 0.13% to 48,718.52. The Nifty 50 index rose 3.05 points or 0.02% to 14,634.15.
Foreign portfolio investors (FPIs) sold shares worth Rs 2,289.46 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 552.92 crore in the Indian equity market on 3 May, provisional data showed.
Market will react to election results of the five states which were declared on May 2 and the record high GST revenue for April released on May 1.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slump 188 points at the opening bell.
On the coronavirus front, investors continue monitoring the Covid situation in India as the country continues to battle a deadly second wave of infections. Authorities reported 392,488 new cases in the previous 24 hours to push total cases to 19.56 million. So far, the virus has killed 215,542 people.
On the political front, election results 2021 for West Bengal, Assam, Tamil Nadu, Kerala and Puducherry assemblies were declared on Sunday (May 2). The TMC managed a landslide victory in West Bengal, the same as DMK in Tamil Nadu and Left-led LDF in Kerala. The BJP managed to retain power in Assam and cruised to victory in Puducherry.
On the macro front, the gross Goods and Services Tax (GST) revenue collection for April, 2021 hit yet another peak of Rs 1,41,384 crore, of which CGST was Rs 27,837 crore, SGST Rs 35,621,and IGST Rs 68,481 crore. Collections in April 2021 have surpassed even those of March.
Overseas, Asian stocks are trading mixed on Monday, with thinner trading volumes expected as major markets in China and Japan are closed for holidays.
Wall Street ended lower on Friday, with Amazon, Apple, Alphabet, and other tech-related companies weighing on the S&P 500 and Nasdaq despite recent strong quarterly earnings reports, said a Reuters report.
Back home, equity indices snapped four day rising streak and ended with deep losses on Friday. Mixed global cues, soaring new Covid-19 cases in the country and uncertainties surrounding vaccination weighed on the sentiment. The barometer index, the S&P BSE Sensex, slumped 983.58 points or 1.98% at 48,782.36. The Nifty 50 index slipped 263.80 points or 1.77% at 14,631.10.
Foreign portfolio investors (FPIs) sold shares worth Rs 3,465.07 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,419.31 crore in the Indian equity market on 30 April, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 159 points at the opening bell.
On the political front, exit polls on Thursday forecast a tight contest between the incumbent Trinamool Congress and the BJP in the high-profile West Bengal assembly polls, while the ruling Left combine was projected to retain power in Kerala and so was the case for BJP in Assam. However, exit polls projected DMK-led opposition alliance as a winner in Tamil Nadu, while the Congress-led alliance was seen losing the neighbouring Puducherry.
Overseas, Asian stocks are trading lower on Friday as investors weighed the latest corporate earnings and solid economic growth data.
Data showed China's factory activity expanded at a slower-than-expected pace in April as the official manufacturing Purchasing Manager's Index fell to 51.1, from 51.9 in March. A reading above 50 indicates expansion.
In US, the S&P 500 closed at record levels on Thursday after blowout earnings results from two of the biggest tech companies in the world: Apple and Facebook.
Apple said that sales jumped 54% during the quarter, with each product category seeing double-digit growth. The company also said it would increase its dividend by 7%, and authorized $90 billion in share buybacks. Facebook's revenue jumped 48%, driven by higher-priced ads.
Economic data released Thursday gave investors an update on the progress of the economic recovery. First-quarter GDP hit an annualized rate of 6.4%.
Back home, the domestic equity indices advanced for the fourth trading session on Thursday. Global stock markets were positive after the US Federal Reserve pledged to maintain easy monetary policy to aid economic recovery. The barometer index, the S&P BSE Sensex, rose 32.10 points or 0.06% at 49,765.94. The Nifty 50 index added 30.35 points or 0.20% at 14,894.90.
Foreign portfolio investors (FPIs) bought shares worth Rs 809.37 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 942.35 crore in the Indian equity market on 29 April, provisional data showed.
Trading could be volatile today as traders roll over positions in the F&O segment from the near month April series to May series. The April 2021 F&O contracts will expire today, 29 April 2021.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 138 points at the opening bell.
On the political front, with West Bengal slated to hold its eight and final phase of polling today, all eyes will be glued to the exit polls for four states and one Union Territory. Exit polls for West Bengal, Assam, Tamil Nadu, Kerala and Puducherry can be published today — an hour after polls close. Votes will be counted on 2 May.
Overseas, Asian stocks are mostly trading higher on Thursday, as investors react to the U.S. Federal Reserve's decision to keep its easy money policy in place. Markets in Japan are closed on Thursday for a holiday.
Wall Street ended lower on Wednesday after the U.S. Federal Reserve held interest rates and its monthly bond-buying program steady and gave no sign it was ready to reduce its support for the recovery.
The Fed left its benchmark short-term rate near zero, where it's been since the pandemic erupted nearly a year ago, to help keep loan rates down to encourage borrowing and spending. It also said in a statement after its latest policy meeting that it would keep buying $120 billion in bonds each month to try to keep longer-term borrowing rates low.
In a statement Wednesday, the Fed said the economy and job market have strengthened, and while inflation has risen, Fed policymakers ascribed the increase to temporary factors.
Back home, domestic equity market extended gains for the third consecutive session, boosted by strong Q4 results and vaccine optimism. The S&P BSE Sensex, jumped 789.70 points or 1.61% at 49,733.84. The Nifty 50 index gained 211.50 points or 1.44% at 14,864.55.
Foreign portfolio investors (FPIs) bought shares worth Rs 766.02 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 436.20 crore in the Indian equity market on 28 April, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 18 points at the opening bell.
Overseas, Asian stocks are trading mixed on Wednesday ahead of the US Federal Reserve's policy decision.
Japan's retail sales rose 5.2% in March as compared with a year ago, according to government data.
In US, the S&P 500 closed little changed near its record level on Tuesday as investors braced for a big batch of tech earnings.
The Federal Reserve kicked off its two-day policy meeting Tuesday. The central bank is reportedly likely to hold and keep its asset-buying program in place at the same levels for the rest of 2021, despite growing concerns about an overheating economy.
Consumer confidence climbed sharply to hit a pandemic high with The Conference Board's index jumping to 121.7, the highest since February 2020.
Back home, domestic equity indices rallied for the second session on Tuesday. The barometer index, the S&P BSE Sensex, jumped 557.63 points or 1.15% at 48,944.14. The Nifty 50 index added 168.05 points or 1.16% at 14,653.05.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,454.75 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,463.44 crore in the Indian equity market on 27 April, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 6 points at the opening bell.
Investors will continue to monitor India's Covid situation as the country continues to battle a second wave that is pushing its health-care system to the brink.
Overseas, Asian stocks are trading lower on Tuesday as investors await the Bank of Japan's interest rate decision. That comes as multiple regions, including Tokyo and Osaka, were recently placed under a new state of emergency to curb the spread of coronavirus infections.
In US, the S&P 500 and Nasdaq closed at record highs on Monday, fueled by Tesla Inc and other heavyweight growth stocks ahead of a deluge of earnings reports this week.
Going ahead, the Federal Reserve, which meets on Tuesday and Wednesday, is expected to defend its policy of letting inflation run hot, while assuring markets it sees the pick-up in prices as only temporary. Chairman Jerome Powell will host a press conference Wednesday afternoon to discuss the Federal Open Market Committee's decision.
Back home, the benchmark indices ended with strong gains on Monday, tracking positive global cues. The S&P BSE Sensex, soared 508.06 points or 1.06% at 48,386.51. The Nifty 50 index gained 143.65 points or 1% at 14,485.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,111.89 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,022.57 crore in the Indian equity market on 26 April, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could advance 117 points at the opening bell.
Investors continue to watch the Covid situation in India. The Covid situation in India remains severe as the country continues to battle a startling rise in new coronavirus infections. On Sunday, nearly 350,000 new daily infections were registered.
The Biden administration has said it will immediately make raw materials needed for India's coronavirus vaccine production available. The U.S. response comes after Britain, France and Germany also pledged aid to India over the weekend.
Overseas, Asian stocks are trading mixed on Monday as signs the world economic recovery was well on track bolstered risk appetite.
U.S. stocks rebounded on Friday as Wall Street reassessed concerns arising from news that the White House could seek a hike to the capital gains tax. Stocks were supported by data indicating an acceleration in economic activity and even faster growth in new home sales, as investors largely brushed off Thursday's reports that President Joe Biden would propose a large increase on the capital-gains tax for the wealthiest Americans.
In U.S. economic data, the IHS Markit purchasing managers index for the manufacturing sector rose to a record 60.5 in April from 59.1 a month earlier, while the services sector PMI jumped to 63.1 from 60.4. A reading of more than 50 indicates an expansion in activity.
New home sales rose to a seasonally-adjusted annual rate of 1.021 million in March, the U.S. Census Bureau reported — the fastest pace since 2006. Month-over-month, sales rose 20.7%. Also, the Census Bureau revised the sales figure for February up to a rate of 846,000, from the originally reported rate of 775,000.
Back home, the benchmark indices ended a volatile session with modest losses on Friday. Selling was triggered by concerns that the spike in COVID-19 cases in the country could derail the economic recovery. The S&P BSE Sensex, declined 202.22 points or 0.42% at 47,878.45. The Nifty 50 index declined 64.80 points or 0.45% at 14,341.35.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,360.76 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,695.59 crore in the Indian equity market on 23 April, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 71 points at the opening bell.
Overseas, Asian stocks are trading mixed on Friday following an overnight drop on Wall Street.
U.S stocks reversed lower in a swift fashion on Thursday after reports that President Joe Biden is slated to propose much higher capital gains taxes for the rich. Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans. The proposal would hike the capital gains rate to 39.6% for those earning $1 million or more, up from 20% currently, as per reports.
On the economic front, the number of Americans applying for unemployment aid fell last week to 547,000, a new low since the pandemic struck and a further encouraging sign that layoffs are slowing on the strength of an improving job market. The Labor Department said on Thursday that applications declined 39,000 from a revised 586,000 a week earlier.
Back home, the domestic equity benchmarks ended near the day's high on Thursday, led by strength in banks and financial shares. The barometer index, the S&P BSE Sensex, rose 374.87 points or 0.79% to 48,080.67. The Nifty 50 index added 109.75 points or 0.77% to 14,406.15.
Foreign portfolio investors (FPIs) sold shares worth Rs 909.56 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 849.98 crore in the Indian equity market on 22 April, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 125 points at the opening bell.
Overseas, Asian stocks are trading higher on Thursday following an overnight bounce on Wall Street.
In US, Wall Street rebounded on Wednesday after a two-day decline in a broad rally as a tilt toward stocks poised to benefit from a recovering economy offset Netflix Inc's sell-off after its disappointing results a day earlier. Both the S&P 500 and Dow hit all-time highs.
Back home, stock markets were shut on Wednesday on account of Ram Navami. The domestic equity barometers ended with modest losses after a volatile trade on Tuesday. A record surge in Covid-19 cases and FII outflows from the capital market dented investors sentiment. The barometer index, the S&P BSE Sensex, fell 243.62 points or 0.51% to 47,705.80. The Nifty 50 index lost 63.05 points or 0.44% to 14,296.40.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,082.33 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,323.01 crore in the Indian equity market on 20 April, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 55 points at the opening bell.
On the coronavirus front, the vaccination drive will be opened up for all citizens above the age of 18 from May 1, the Government of India announced on April 19. The immunisation drive was currently restricted to only citizens aged above 45.
Overseas, Asian stocks are trading mostly lower on Tuesday as China kept its benchmark lending rate unchanged.
On the economic data front, China kept its benchmark lending rate for corporate and household loans steady for the 12th straight month at its April fixing on Tuesday, matching market expectations. The one-year loan prime rate (LPR) was kept at 3.85%. The five-year LPR remained at 4.65%.
U.S. stocks slipped from record levels to start the week on Monday as weakness in the technology sector weighed on the broader market.
On the coronavirus front, White House chief medical advisor Dr. Anthony Fauci said he expects the U.S. will resume administration of the Johnson & Johnson vaccine. The Food and Drug Administration asked states last week to temporarily halt using the single dose vaccine “out of an abundance of caution” after six women developed a rare blood-clotting disorder.
Back home, the key equity indices ended with significant losses on Monday. A spike in domestic coronavirus cases and localized lockdown being announced by various state governments dented investors sentiment. The barometer index, the S&P BSE Sensex, dropped 882.61 points or 1.81% to 47,949.42. The Nifty 50 index tumbled 258.40 points or 1.77% to 14,359.45.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,633.70 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,355.56 crore in the Indian equity market on 19 April, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slump 183 points at the opening bell.
On the coronavirus front, the Centre on Sunday banned the supply of oxygen for industrial purposes except in nine specified industries in view of shortage of the essential public health commodity in several states amid a spike in COVID-19 infections. The decision will come into effect from April 22.
Overseas, Asian stocks are trading mixed on Monday, with investors watching Alibaba's stock in Hong Kong following yet another development between affiliate Ant Group and billionaire Jack Ma.
Japan's exports posted their strongest growth in more than three years in March. Ministry of Finance data showed on Monday exports surged 16.1% in March from a year earlier, marking the steepest rise since November 2017. That was followed by a 4.5% contraction in February.
U.S. stocks rose again on Friday as the market's rally to records carried on amid strong earnings from blue-chip companies as well as solid data signaling a snapback in the economy.
Federal Reserve Governor Christopher Waller said Friday the U.S. economy is set to take off, but there's still no reason to start tightening policy.
The University of Michigan said Friday its preliminary consumer sentiment index rose to a one-year high of 86.5 in the first half of this month from 84.9 in March.
Back home, the equity indices ended with minor gains amid a volatile session on Friday. The barometer index, the S&P BSE Sensex, added 28.35 points or 0.06% to 48,832.03. The Nifty 50 index advanced 36.40 points or 0.25% to 14,617.85.
Foreign portfolio investors (FPIs) bought shares worth Rs 437.51 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 657.55 crore in the Indian equity market on 16 April, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 16 points at the opening bell.
Overseas, Asian stocks are trading largely lower on Friday as investors reacted to the release of Chinese economic data.
China's gross domestic product surged 18.3% in the first three months of the year from a year ago, the country's National Bureau of Statistics said Friday. The surge in growth comes off a contraction in the first quarter of last year, when the economy shrank by 6.8% during the height of the domestic outbreak of Covid-19.
Meanwhile, China's retail sales jumped 34.2% in March. Industrial production rose 14.1% in March.
In US, the S&P 500 and Dow Jones indexes hit record highs on Thursday, as upbeat earnings reports from companies including Bank of America and BlackRock as well as a strong rebound in March retail sales bolstered hopes of a broader economic rebound.
Retail sales surged 9.8% in March as additional stimulus sent consumer spending soaring, the Commerce Department reported Thursday. A separate report on Thursday showed that first-time filings for unemployment insurance dropped to the lowest level since March 2020. The Labor Department reported 576,000 new jobless claims for the week ended April 10.
Back home, key equity barometers reversed intraday losses and ended with decent gains on Thursday. Trading was volatile as rising COVID-19 cases continue to spook investors. The barometer index, the S&P BSE Sensex, gained 259.62 points or 0.53% to 48,803.68. The Nifty 50 index added 76.65 points or 0.53% to close at 14,581.45.
Foreign portfolio investors (FPIs) bought shares worth Rs 979.70 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 526.63 crore in the Indian equity market on 15 April, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 115 points at the opening bell.
Overseas, Asian stocks are trading steady on Thursday after U.S. stocks eased from all-time peaks.
In US, Wall Street indexes closed mixed on Wednesday, with the Nasdaq Composite and S&P 500 falling despite another record intraday high for the latter and big banks' stellar results on the first day of earnings season.
The Federal Reserve will continue to support the recovery, and will start tapering asset purchases “well before” policy makers consider raising interest rates, Chairman Jerome Powell told the Economic Club of Washington Wednesday.
In coronavirus developments, a U.S. Centers for Disease Control and Prevention panel decided Wednesday to postpone a decision on Johnson and Johnson's Covid-19 vaccine following the development of a rare but potentially life-threatening blood-clotting disorder in six women. On Tuesday, the U.S. Food and Drug Administration asked states to temporarily halt using J&J's Covid-19 vaccine “out of an abundance of caution.”
Back home, stock markets were closed on Wednesday, 14 April 2021 on account of Dr.Baba Saheb Ambedkar Jayanti. Key equity indices ended with strong gains on Tuesday. The barometer index, the S&P BSE Sensex, rose 660.68 points or 1.38% at 48,544.06. The Nifty 50 index gained 194 points or 1.36% at 14,504.80.
Foreign portfolio investors (FPIs) sold shares worth Rs 730.81 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 243.80 crore in the Indian equity market on 13 April, provisional data showed.