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SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 145 points at the opening bell.
Build up to the upcoming budget session would be the key event that the market would be looking for in the near future. The Budget session of Parliament is set to commence on January 31 and will conclude on April 8. The government will present the Budget for fiscal 2022-23 on February 1. The Economic Survey is likely to be tabled on January 31 after the president's address, as per reports.
On the political front, developments in the upcoming assembly polls in Uttar Pradesh, Uttarakhand, Goa, Punjab, and Manipur will be closely watched. Polls in all the five states will be held between February 10 and March 7 in seven phases. The counting of votes and the result will be declared on March 10.
Global markets:
Overseas, Asian stocks traded lower on Monday as investors looked ahead to the U.S. Federal Reserve's monetary policy meeting this week. The Federal Open Market Committee is due to meet on Tuesday and Wednesday to decide on the next steps for U.S. monetary policy.
Wall Street's main indexes ended sharply lower on Friday as Netflix shares plunged after a weak earnings report.
Domestic markets:
Back home, the domestic equity benchmarks ended with deep losses on Friday, sliding for the fourth straight session. The barometer index, the S&P BSE Sensex, tumbled 427.44 points or 0.72% to 59,037.18. The Nifty 50 index fell 139.85 points or 0.79% to 17,617.15.
Foreign portfolio investors (FPIs) sold shares worth Rs 3,148.58 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 269.36 crore in the Indian equity market on 21 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 122 points at the opening bell.
Overseas, Asian stocks are trading lower on Friday, tracking declines on Wall Street overnight.
Japan's inflation data released on Friday showed that core consumer prices rose 0.5% in December compared to a year earlier, as fuel and raw material costs increased, as per reports.
US stocks moved lower on Thursday, giving up their sharp gains from earlier in the session, as Wall Street continues to struggle this year in a rising interest rate environment.
Concern that the Federal Reserve will aggressively move to raise rates this year took toll on the market. Investors are anxiously awaiting the U.S. central bank's policy meeting next week for new details on how it will tackle inflation.
Back home, the domestic equity benchmarks ended with deep cuts on Thursday. The barometer index, the S&P BSE Sensex, tumbled 634.20 points or 1.06% to 59,464.62. The Nifty 50 index lost 181.40 points or 1.01% to 17,757.
Foreign portfolio investors (FPIs) sold shares worth Rs 4,679.84 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 769.26 crore in the Indian equity market on 20 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 72 points at the opening bell.
Overseas, Asian stocks are trading mixed on Thursday as China cut its key lending rates.
China on Thursday cut its one-year loan prime rate by 10 basis points, while its five-year LPR, which influences the pricing of home mortgages, was cut by 5 basis points, the first time since April 2020.
Wall Street's main indices ended sharply lower on Wednesday after a diverse set of corporate earnings and as investors continued to worry about higher US Treasury yields and the Federal Reserve tightening monetary policy.
Back home, the key equity benchmarks ended with deep cuts on Wednesday. The barometer index, the S&P BSE Sensex, slumped 656.04 points or 1.08% to 60,098.82. The Nifty 50 index tumbled 174.65 points or 0.96% to 17,938.40.
Foreign portfolio investors (FPIs) sold shares worth Rs 2,704.77 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 195.07 crore in the Indian equity market on 19 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 19 points at the opening bell.
Overseas, Asian stocks are trading lower on Wednesday following an overnight sell-off on Wall Street.
US stocks fell sharply Tuesday as government bond yields hit Covid-era highs and after Goldman Sachs reported disappointing earnings. Microsoft announced that the software giant will buy video game company Activision Blizzard in an all-cash transaction valued at $68.7 billion.
Back home, the domestic equity benchmarks ended with deep cuts on Tuesday. The barometer index, the S&P BSE Sensex, slumped 554.05 points or 0.90% to 60,754.86. The Nifty 50 index lost 195.05 points or 1.07% to 18,113.05.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,254.95 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 220.20 crore in the Indian equity market on 18 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 20 points at the opening bell.
Overseas, Asian stocks are mostly up on Tuesday, with investors continuing to monitor the global economic recovery from COVID-19.
Chinese President Xi Jinping cautioned against a rapid rise in interest rates on Monday that could derail the global recovery from the coronavirus pandemic.
U.S. markets remained closed on Monday for Martin Luther King Jr. Day.
Meanwhile, the Organization of the Petroleum Exporting Countries, or OPEC, is due to release its monthly oil market report on Tuesday where traders are likely to watch for signs that global oil demand has been affected by the surge in Covid cases around the world.
Back home, the domestic equity benchmarks ended with minor gains on Monday. The barometer index, the S&P BSE Sensex, gained 85.88 points or 0.14% to 61,308.91. The Nifty 50 index gained 52.35 points or 0.29% to 18,308.10.
Foreign portfolio investors (FPIs) sold shares worth Rs 855.47 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 115.31 crore in the Indian equity market on 17 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could decline 70 points at the opening bell.
Overseas, Asian stocks are trading mixed on Monday after release of Chinese economic data.
China's economy grew by 8.1% in 2021, and industrial production rose steadily through the end of the year and offset a drop off in retail sales, according to official data from China's National Bureau of Statistics released on Monday. China's gross domestic product grew by 2.2% in 2020 from the prior year.
China's central bank on Monday cut the borrowing costs of its medium-term loans for the first time since April 2020. The People's Bank of China (PBOC) said it was lowering the interest rate on 700 billion yuan ($110.19 billion) worth of one-year medium-term lending facility (MLF) loans to some financial institutions by 10 basis points to 2.85% from 2.95% in previous operations.
U.S. markets will remain closed today for Martin Luther King Jr. Day. US stocks ended mixed Friday after sentiment on Wall Street appeared to sour on heightened anticipation for higher interest rates and concerns over the economic outlook.
New York Fed President John Williams, a key ally of Fed Chairman Jerome Powell, said Friday that he expects economic growth to slow in 2022 to a 3.5% annual rate, from an estimated 5.5% rate last year, on the spread of omicron.
Back home, key indices ended almost flat with negative bias on Friday. The barometer index, the S&P BSE Sensex, fell 12.27 points or 0.02% at 61,223.03. The Nifty 50 index declined 2.05 points or 0.01% at 18,255.75.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,598.20 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 371.41 crore in the Indian equity market on 14 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 73 points at the opening bell.
Overseas, Asian stocks are trading lower on Friday as the recent rally in U.S. stocks broke momentum with the Nasdaq snapping a three-day winning streak.
China released trade data on Friday, which showed that its dollar-denominated exports grew 29.9% compared to the past year, and its imports rose 30.1% in the same period.
Meanwhile, South Korea's central bank raised its benchmark rate by 25 basis points to 1.25%, the highest since March 2020 and back to the rate it was at before the pandemic.
Wall Street's major indexes closed lower on Thursday as investors took profits, particularly in technology stocks after a three-day rally.
On the macro front, the number of Americans filing new claims for unemployment benefits increased to an eight-week high in the first week of January amid raging COVID-19 infections. Initial claims for state unemployment benefits increased 23,000 to a seasonally adjusted 230,000 for the week ended January 8, the highest reading since mid-November.
In another report on Thursday, the Labor Department said the producer price index for final demand increased 0.2% last month. That was the smallest gain in the PPI since November 2020 and followed a 1% jump in November.
Back home, domestic equity benchmarks settled with small gains on Thursday, extending the rally to fifth consecutive trading session. The barometer index, the S&P BSE Sensex, rose 85.26 points or 0.14% at 61,235.30. The Nifty 50 index rose 45.45 points or 0.25% at 18,257.80.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,390.85 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,065.32 crore in the Indian equity market on 13 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 136 points at the opening bell.
On the macro front, India's retail inflation rose sharply to 5.59% in the month of December from 4.91% in November, pushed up by rising prices of manufactured items, data released by the government showed on Wednesday. Inflation as measured by Consumer Price Index (CPI) was 4.59% in the year-ago period.
Separately, industrial production for the month of November grew by 1.4% as compared to (-)1.6 % in the same month last year. IIP surged 3.2% in the month of October.
Meanwhile, amid the sharp rise in COVID-19 cases across the country, Prime Minister Narendra Modi will to hold a review meeting with chief ministers of all states and Union territories on January 13. The meeting will be held at 16:30 IST via video conferencing.
Overseas, Asian stocks are trading mixed on Thursday as Wall Street saw gains despite a red-hot inflation report that set market expectations for rate hikes.
U.S. stocks moved slightly higher Wednesday after a key inflation report showed a historic gain but largely matched expectations.
December reading for the consumer price index, a gauge of prices across a broad spectrum of goods, showed a gain of 7% year over year. That is the biggest jump since 1982, but was in line with expectations.
Investors are keeping an eye on Covid developments, as the World Health Organization reported a record 15 million new Covid-19 cases globally for a single week, as omicron rapidly replaces delta as the dominant variant across the globe. The World Health Organization warned that omicron cases are “off the charts.”
Back home, benchmark indices ended with strong gains on Wednesday, extending their winning run to fourth consecutive session. The barometer index, the S&P BSE Sensex, advanced 533.15 points or 0.88% at 61,150.04. The Nifty 50 index gained 156.60 points or 0.87% to close at 18,212.35.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,001.57 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,332.01 crore in the Indian equity market on 12 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could surge 143 points at the opening bell.
The Indian economy is expected to grow at 8.3% this fiscal and at 8.7% in 2022-23, the World Bank said in its 'Global Economic Prospects' report released on January 11. The 8.3% GDP growth prediction for FY22 is the same as what was stated by the World Bank in its last projection released in October 2021.
Overseas, Asian stocks are trading higher Wednesday as U.S. markets rallied overnight as comments from the Fed chief appeared to reassure investors.
US stock indices rose on Tuesday as investors were relieved that Federal Reserve Chair Jerome Powell's testimony to Congress did not include any major surprises.
Fed Chair Jerome Powell testified before a Senate committee on Tuesday as part of his re-confirmation process. Powell said that he expected a normalized supply chain to help ease inflation pressures in 2022 but said the Fed would not be afraid to hike rates further than projected if inflation remains high.
The World Bank Tuesday cut growth forecasts for the U.S., the Euro zone as well as China. It warned that high debt levels, rising income inequality and new coronavirus variants threatened the recovery in developing economies.
Back home, domestic stock market ended with decent gains on Tuesday, rising for the third straight session. The barometer index, the S&P BSE Sensex, advanced 221.26 points or 0.37% to 60,616.89. The Nifty 50 index added 52.45 points or 0.29% to 18,055.75.
Foreign portfolio investors (FPIs) bought shares worth Rs 111.91 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 378.74 crore in the Indian equity market on 11 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 48 points at the opening bell.
Overseas, Asian stocks are mostly trading lower on Tuesday as investors remain concerned about inflation as well as likely policy tightening from central banks such as the U.S. Federal Reserve.
Wall Street's three major indexes staged a late-session comeback on Monday as the Nasdaq managed to eke out a tiny gain and investors swooped in to hunt for bargains, while the S&P 500 and the Dow Jones Industrial Average finished well above their session lows.
Back home, domestic equity indices settled with robust gains on Monday. The barometer index, the S&P BSE Sensex, advanced 650.98 points or 1.09% to 60,395.63. The Nifty 50 index added 190.6 points or 1.07% to 18,003.30.
Foreign portfolio investors (FPIs) sold shares worth Rs 124.23 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 481.55 crore in the Indian equity market on 10 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 70 points at the opening bell.
On the political front, the Election Commission on Saturday announced the poll dates and schedule for the upcoming assembly elections in Goa, Punjab, Uttar Pradesh, Uttarakhand, and Manipur. The EC has also issued fresh guidelines for the conduct of elections amid the ongoing coronavirus pandemic.
Uttar Pradesh, Goa, Manipur, Punjab, and Uttarakhand will vote over seven phases starting February 10, with counting of votes scheduled for March 10.
Overseas, Asian stocks are trading mixed on Monday as investors kept an eye on the coronavirus pandemic and rising interest rates in the U.S. Japan's markets are closed for a public holiday. Covid cases have continued to rise sharply around the globe following the emergence of the highly transmissible omicron variant.
U.S. stocks ended lower Friday as investors worried about looming U.S. interest-rate hikes and unfolding Omicron news.
On Friday, the Labor Department reported the U.S. economy added far fewer jobs in December than expected. The nonfarm payrolls report showed an increase of 199,000 in December. The U.S. unemployment rate fell to 3.9% in December from 4.2% in November, the jobs report showed.
Back home, the benchmark indices settled with decent gains on Friday, supported by oil & gas and banks stocks. The barometer index, the S&P BSE Sensex, rose 142.81 points or 0.24% at 59,744.65. The Nifty 50 index gained 66.80 points or 0.38% at 17,812.70.
Foreign portfolio investors (FPIs) bought shares worth Rs 496.27 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 115.66 crore in the Indian equity market on 7 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 5 points at the opening bell.
Overseas, Asian stocks are trading higher on Friday following heavy losses for some regional markets in the previous trading day, as investors continue to assess the impact of a potentially faster-than-expected policy tightening by the U.S. Federal Reserve.
US stocks fell on Thursday to end a day of choppy trading, following the massive tech sell-off in the previous session. The Dow Jones Industrial Average fell 170.64 points, or 0.47%, to 36,236.47, the S&P 500 lost 4.53 points, or 0.10%, to 4,696.05 and the Nasdaq Composite dropped 19.31 points, or 0.13%, to 15,080.87.
Back home, the benchmark indices witnessed a sharp decline on Thursday, after a four-day rising streak. The barometer index, the S&P BSE Sensex, dropped 621.31 points or 1.03% at 59,601.84. The Nifty 50 index shed 179.35 points or 1% at 17,745.90.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,926.77 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 800.91 crore in the Indian equity market on 6 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 171 points at the opening bell.
Overseas, Asian stocks are trading lower on Thursday following overnight losses on the Wall Street.
Activity in China's services sector expanded at a faster pace in December, a private sector survey showed on Thursday. The Caixin/Markit services Purchasing Managers' Index (PMI) rose to 53.1 in December from 52.1 in November.
Japan's services sector activity expanded at a slower pace in December. The final au Jibun Bank Japan Services Purchasing Managers' Index (PMI) dropped to a seasonally adjusted 52.1 from the prior month's 53.0, which was the highest reading since August 2019.
US stocks fell sharply on Wednesday after U.S. Federal Reserve meeting minutes signaled the central bank may raise interest rates sooner than expected.
The minutes from the Federal Reserve's most recent meeting showed the central bank has discussed reducing its balance sheet shortly after it raises rates later this year. The minutes show officials to be considering shrinking the balance sheet along with raising rates as another way to remove policy accommodation. The Fed also signaled it could get more aggressive in raising rates.
Back home, the benchmark indices rose for the fourth straight session on Wednesday, supported by firmness in banks and financial services. The barometer index, the S&P BSE Sensex, jumped 367.22 points or 0.61% at 60,223.15. The Nifty 50 index surged 120 points or 0.67% at 17,925.25.
Foreign portfolio investors (FPIs) bought shares worth Rs 336.83 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,271.95 crore in the Indian equity market on 5 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 66 points at the opening bell.
Overseas, Asian stocks are trading lower on Wednesday, with investors awaiting the minutes from the U.S. Federal Reserve's latest meeting for clues on the central bank's interest rate hike moves.
Investors now await the minutes from the Fed's meeting in December, due later in the day, and the U.S. jobs report, due to be released on Friday, for clues on the Fed's potential pace of the hikes.
In US, the Dow Jones Industrial Average scored a record closing high on Tuesday for the second straight day as financial and industrial shares rallied, while the Nasdaq fell.
On the macro front, the Institute for Supply Management said on Tuesday that its index of US factory activity fell to a reading of 58.7 last month from 61.1 in November, the lowest tally since last January.
Meanwhile, global benchmark Brent crude jumped on Tuesday to $80 a barrel, its highest since November, as OPEC and its non-OPEC allies, known collectively as OPEC+, agreed to stick to its planned increase for February based on indications that the Omicron coronavirus variant would have only a mild impact on demand.
Back home, domestic shares advanced for the third consecutive session on Tuesday, tracking strength in global stock markets. The barometer index, the S&P BSE Sensex, jumped 672.71 points or 1.14% at 59,855.93. The Nifty 50 index surged 179.55 points or 1.02% at 17,805.25.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,273.86 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 532.97 crore in the Indian equity market on 4 January, 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, as data showed accelerating Chinese factory activity growth in December.
China's factory activity grew at its fastest pace in six months in December, driven by production hikes and easing price pressures, a private survey showed on Tuesday. The Caixin/Markit Manufacturing Purchasing Managers' Index (PMI) rose to 50.9 in December, from 49.9 in November.
In US, the S&P 500 and Dow Jones Industrial Average posted closing record highs on the first trading day of the year on Monday, helped by gains in Tesla Inc and bank shares.
Back home, the market kicked off the calendar year 2022 on a robust note as the Nifty settled above 17,600 mark. The barometer index, the S&P BSE Sensex, jumped 929.40 points or 1.60% at 59,183.22. The Nifty 50 index surged 271.65 points or 1.57% at 17,625.70.
Foreign portfolio investors (FPIs) bought shares worth Rs 902.64 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 803.11 crore in the Indian equity market on 3 January, provisional data showed.