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SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 4 points at the opening bell.
Global markets:
Overseas, Asian stocks are trading mixed on Thursday, as investors assessed further risks of more rate hikes to come.
Rating agency Fitch has revised its forecast for China's economic growth in 2023 to 5.0% from 4.1% previously as consumption and broader activity are recovering faster than initially anticipated after the end of the "zero-COVID" regime.
US stocks fell on Wednesday on corporate profit worries including Chipotle and Lumen Technologies' disappointing results. A number of Federal Reserve speakers reiterated the central bank is yet to be finished with its hiking cycle, including Fed Governor Christopher Waller.
Domestic markets:
Back home, the domestic equity benchmarks ended with strong gains on Wednesday, breaking two-day losing streak. The barometer index, the S&P BSE Sensex advanced 377.75 points or 0.63% to 60,663.79. The Nifty 50 index added 150.20 points or 0.85% to 17,871.70.
Foreign portfolio investors (FPIs) sold shares worth Rs 736.82 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 941.16 crore in the Indian equity market on 8 February, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 66 points at the opening bell.
The RBI policy review meeting began on 6 February and concludes today, 8 February 2023. The central bank is projected to raise the repo rate but at a slower pace. In its December monetary policy committee meeting, the RBI raised the policy repo rate by 35 basis points (bps) to 6.25%.
Overseas, Asian stocks traded mixed on Wednesday, as Federal Reserve Chairman Jerome Powell overnight acknowledged that inflation is declining, a sign the central bank may soon pause its rate hikes.
US stocks advanced on Tuesday, but trade was choppy as investors digested comments from Federal Reserve Chair Jerome Powell about how long the central bank might need to tame inflation.
US inflation is starting to cool but the road ahead will likely be long and bumpy, Federal Reserve Chair Jerome Powell warned Tuesday, adding that stronger-than-expected economic data could bring more rate hikes.
Back home, the domestic equity barometers ended with modest losses on Tuesday. The barometer index, the S&P BSE Sensex declined 220.86 points or 0.37% to 60,286.04. The Nifty 50 index lost 43.10 points or 0.24% to 17,721.50.
Foreign portfolio investors (FPIs) sold shares worth Rs 2,559.96 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 639.82 crore in the Indian equity market on 7 February, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 68 points at the opening bell.
The RBI policy review meeting began on 6 February and concludes on 8 February 2023. The central bank is projected to raise the repo rate but at a slower pace. In its December monetary policy committee meeting, the RBI raised the policy repo rate by 35 basis points (bps) to 6.25%.
Overseas, Asian stocks are trading higher on Tuesday, as investors await Reserve Bank of Australia's rate decision.
US stocks ended lower on Monday as investors shifted gears after considering the possibility that the Federal Reserve may take longer to start cutting interest rates.
Traders are keeping a close eye on speeches by Fed officials this week, including Chair Jerome Powell on Tuesday, for any change in the central bank's rhetoric after data last week showed services activity was strong in January as well as strong job growth.
Back home, the key equity indices ended with modest losses on Monday, tracking negative global cues. The barometer index, the S&P BSE Sensex declined 334.98 points or 0.55% to 60,506.90. The Nifty 50 index lost 89.45 points or 0.50% to 17,764.60.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,218.14 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,203.09 crore in the Indian equity market on 6 February, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 5 points at the opening bell.
Overseas, Asian stocks are trading lower on Monday as a stronger-than-expected jobs report from the U.S. worrying investors the Federal Reserve has room for more interest rate hikes, as it continued its efforts to control inflation.
US stocks dropped on Friday after a shockingly strong US jobs report renewed concerns the Federal Reserve may remain aggressive in its path of interest rate hikes as it tries to tame inflation.
US job growth accelerated sharply in January while the unemployment rate hit more than a 53-1/2-year low of 3.4%. The survey of establishments showed nonfarm payrolls surged by 517,000 jobs last month. Data for December was revised higher to show 260,000 jobs added instead of the previously reported 223,000.
Back home, the equity benchmarks settled with sharp gains on Friday. The barometer index, the S&P BSE Sensex jumped 909.64 points or 1.52% to 60,841.88. The Nifty 50 index gained 243.65 points or 1.38% to 17,854.05.
Foreign portfolio investors (FPIs) sold shares worth Rs 932.44 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,264.74 crore in the Indian equity market on 3 February, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 67 points at the opening bell.
Overseas, Asian stocks are trading mostly lower on Friday despite the Caixin purchasing managers' index showing services activity in China picked up in January.
China's service sector showed a rebound in the first month of 2023, according to the Caixin/S&P Global services purchasing managers' index (PMI). The reading rose to 52.9 in January, from the business activity index of 48 seen in December.
The au Jibun Bank Japan services purchasing managers' index came in at 52.3 for the month of January, ticking higher than the previous reading of 51.1 seen in December.
US stocks ended mixed on Thursday, as investors turned their focus to a handful of key earnings reports due from mega-cap tech firms after the closing bell.
In Europe, the Bank of England raised interest rates by half a percentage point Thursday as it sought to tame double-digit inflation that is fueling a cost-of-living crisis, public-sector strikes and fears of recession. The bank's monetary policy committee voted 7-2 to push its key rate to 4%.
Back home, the Nifty ended almost flat while the Sensex settled with decent gains on Thursday. The barometer index, the S&P BSE Sensex rose 224.16 points or 0.38% to 59,932.24. The Nifty 50 index fell 5.90 points or 0.03% to 17,610.40.
Foreign portfolio investors (FPIs) sold shares worth Rs 3,065.35 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,371.36 crore in the Indian equity market on 2 February, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 137 points at the opening bell.
Overseas, Asian stocks are trading mixed on Thursday as investors digested the U.S. Federal Reserve's smaller rate hike of 25 basis points and Fed Chairman Jerome Powell acknowledged inflation is falling.
US stocks rose on Wednesday after Federal Reserve chair Jerome Powell acknowledged that inflation was starting to ease, in remarks he made following a quarter-point rate hike by the U.S. central bank.
The US central bank announced a quarter-point hike to the benchmark lending rate at the end of its two-day policy meeting, taking the rate to a target range of 4.50-4.75%. "Inflation has eased somewhat but remains elevated," said the Fed's policy-setting Federal Open Market Committee (FOMC) in a statement. "The committee anticipates that ongoing increases in the target range will be appropriate" to bring inflation back to policymakers' 2% target over time, the statement said.
Back home, the key equity indices ended a roller coaster session with tepid gains on Wednesday. The barometer index, the S&P BSE Sensex advanced 158.18 points or 0.27% to 59,708.08. The Nifty 50 index lost 45.85 points or 0.26% to 17,616.30.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,785.21 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 529.47 crore in the Indian equity market on 1 February, provisional data showed.
Union Finance Minister Nirmala Sitharaman is set to table the Union Budget 2023 today, 1 February 2023. FM Sitharaman will reportedly try to play the balancing act by accommodating both the common taxpayer's demand to some extent and laying the ground for more pressing issues like job creation, GDP growth, fiscal deficit and capital expenditure push for infrastructure, manufacturing and other sectors.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 89 points at the opening bell.
The GST collection in January surged to over Rs 1.55 lakh crore, the second highest-ever mop-up, the finance ministry said on Tuesday. GST collections stood at Rs 1.5 lakh crore in December 2022 and Rs 1.41 lakh crore in January 2022.
Overseas, Asian stocks are trading higher as investors looked ahead to the Federal Reserve's Wednesday meeting, as well as some economic data in the region.
China's factory activity in January signaled a further contraction from previous readings, albeit at a slower pace, marking the sixth monthly contraction in a row. The Caixin manufacturing Purchasing Managers' Index for January came in at 49.2 on Wednesday, a slightly higher reading than December's 49.
Japan's factory activity logs another contraction in January, marking a third straight month of contraction. The au Jibun Bank Flash Japan Manufacturing Purchasing Managers' Index held steady at 48.9, below the 50-point mark separating growth from contraction.
US stocks edged higher on Tuesday on the back of strong earnings and encouraging inflation data.
The Fed is expected to hike rates by one-quarter of a percentage point. Investors will be looking for clues about how much higher the central bank will take rates in the fight against inflation.
Back home, the frontline indices ended a volatile session with minor gains on Tuesday. The barometer index, the S&P BSE Sensex rose 49.49 points or 0.08% to 59,549.90. The Nifty 50 index added 13.20 points or 0.07% to 17,662.15.
Foreign portfolio investors (FPIs) sold shares worth Rs 5,439.64 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 4,506.31 crore in the Indian equity market on 31 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 83 points at the opening bell.
The Central government is set to table the Economic Survey 2022-23 today, 31 January 2023. The Economic Survey is the government's review of how the economy fared in the past year. Union Finance Minister Nirmala Sitharaman is set to table the Union Budget 2023 on 1 February 2023.
The International Monetary Fund (IMF) has retained its GDP growth forecasts for India for 2022-23 and 2023-24 at 6.8% and 6.1%, respectively. Growth in India is set to decline from 6.8% in 2022-23 to 6.1% in 2023-24 before picking up to 6.8% in 2024-25, with resilient domestic demand despite external headwinds, the IMF said in an update to its World Economic Outlook report.
Overseas, Asian stocks are trading mixed on Tuesday as investors look ahead to a range of economic data and a potential interest rate hike from the Federal Reserve.
US stocks traded lower Monday, pausing a January rally as investors braced for the busiest week of earnings season and a possible interest rate hike from the Federal Reserve.
The Federal Open Market Committee meets on Tuesday and Wednesday, when the Fed is expected to hike rates by one-quarter of a percentage point. Investors will be looking for clues about how much higher the central bank will take rates in the fight against inflation.
Back home, the benchmark indices managed to settle higher on Monday, snapping a two-day losing streak. The barometer index, the S&P BSE Sensex advanced 169.51 points or 0.29% to 59,500.41. The Nifty 50 index added 44.60 points or 0.25% to 17,648.95.
Foreign portfolio investors (FPIs) sold shares worth Rs 6,792.80 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 5,512.63 crore in the Indian equity market on 30 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 12 points at the opening bell.
Overseas, Asian stocks are trading mixed on Monday as mainland Chinese markets jumped on resuming trade after a week-long New Year break.
US stocks ended higher on Friday, fueled by gains in Tesla shares and a better-than-expected GDP report on Thursday.
Back home, the equity benchmark indices crashed on Friday. The barometer index, the S&P BSE Sensex tumbled 874.16 points or 1.45% to 59,330.90. The Nifty 50 index slumped 287.60 points or 1.61% to 17,604.35.
Foreign portfolio investors (FPIs) sold shares worth Rs 5,977.86 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 4,252.33 crore in the Indian equity market on 27 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 59 points at the opening bell.
Overseas, Asian stocks are trading higher on Friday as Wall Street's major indexes gained after the US economy grew more than expected.
Wall Street ended a choppy session higher on Thursday as investors grappled with an onslaught of economic data and a string of mixed corporate earnings.
The US economy grew faster than expected in the fourth quarter. Gross domestic product increased at a 2.9% annualized rate last quarter. The economy grew at a 3.2% pace in the third quarter.
Back home, the domestic equity barometers ended with deep cuts on Wednesday. The barometer index, the S&P BSE Sensex tumbled 773.69 points or 1.27% to 60,205.06. The Nifty 50 index lost 226.35 points or 1.25% to 17,891.95. The domestic equity market remained closed on Thursday (26 January 2023) on account of the Republic Day.
Foreign portfolio investors (FPIs) sold shares worth Rs 2,393.94 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,378.49 crore in the Indian equity market on 25 January, provisional data showed.
Trading could be volatile as traders roll over positions in the F&O segment from the near month January series to February series. The January 2023 F&O contracts will expire today, 25 January 2023. The domestic stock market will remain shut on Thursday, 26 January 2023 on account of Republic Day.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 47 points at the opening bell.
Overseas, Asian stocks are trading mixed on Wednesday, taking the lead from Wall Street's struggle for direction as China and Hong Kong markets remain closed for the Lunar New Year holidays.
US stocks ended nominally lower on Tuesday at the close of a rocky session marked by a raft of mixed earnings and a technical malfunction at the opening bell.
The downturn in the US business activity eased slightly in January even as it contracted for the seventh straight month, survey showed on Tuesday. S&P Global said its flash US Composite PMI Output Index, which tracks the manufacturing and services sectors, shot off to 46.6 this month from a final reading of 45 in December.
Back home, the domestic stock market ended flat after a volatile session on Tuesday. The barometer index, the S&P BSE Sensex added 37.08 points or 0.06% to 60,978.75. The Nifty 50 index ended flat at 18,118.30.
Foreign portfolio investors (FPIs) sold shares worth Rs 760.51 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,144.75 crore in the Indian equity market on 24 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 91 points at the opening bell.
Overseas, Asian stocks are trading higher as Lunar New Year holidays were observed in most of the region.
US stocks closed sharply higher on Monday, fuelled by surging technology stocks as investors began an earnings-heavy week with a renewed enthusiasm for market-leading momentum stocks that were battered last year.
Back home, the domestic equity benchmarks ended with modest gains on Monday, snapping a two-day losing streak amid positive cues from global peers. The barometer index S&P BSE Sensex advanced 319.90 points or 0.53% to 60,941.67. The Nifty 50 index added 90.90 points or 0.50% to 18,118.55.
Foreign portfolio investors (FPIs) sold shares worth Rs 219.87 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 434.96 crore in the Indian equity market on 23 January, provisional data showed.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 99 points at the opening bell.
Overseas, Asian stocks are trading higher on Monday as technology stocks tracked Wall Street's strong finish last week and firm crude oil prices lifted energy stocks.
US stocks rallied to close higher on Friday as quarterly earnings helped lift Netflix, while Google parent Alphabet climbed after announcing job cuts.
Back home, the Indian benchmark indices ended lower for the second straight session on Friday. The barometer index, the S&P BSE Sensex shed 236.66 points or 0.39% to 60,621.77. The Nifty 50 index declined 80.20 points or 0.44% to 18,027.65.
Foreign portfolio investors (FPIs) sold shares worth Rs 2,002.25 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,509.95 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 rise 23 points at the opening bell.
Overseas, Asian stocks are trading mostly higher on Friday as investors digested Japan's inflation data. The nationwide core consumer price index rose 4% in December on an annualized basis, the fastest pace since 1981. The reading climbed from the inflation print of 3.7% seen in November.
The People's Bank of China left the loan prime rates for 1-year and 5-year unchanged, widely in line with expectations. The 1-year LPR stayed at 3.65% while the 5-year LPR remained at 4.3%, both unchanged since August, 2022.
US stocks fell Thursday as investors grew increasingly concerned the Federal Reserve will keep raising rates despite signs of slowing inflation.
Boston Federal Reserve President Susan Collins said Thursday that she thinks the central bank can enact smaller interest rate hikes after a series of aggressive moves last year. Collins said she is “reasonably optimistic that there is a pathway to reducing inflation without a significant economic downturn.”
Back home, domestic benchmark indices corrected on Thursday, after gaining for two straight sessions. The barometer index, the S&P BSE Sensex declined 187.31 points or 0.31% to 60,858.43. The Nifty 50 index lost 57.50 points or 0.32% to 18,107.85.
Foreign portfolio investors (FPIs) bought shares worth Rs 399.98 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 128.96 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 slide 95 points at the opening bell.
The December 2022 quarterly results season is underway. In the near future, the upcoming budget session would be the key event that the market would be looking for in January 2023. The Budget Session of Parliament is likely to begin on January 31 and is expected to conclude on April 6 with a recess in between. The Economic Survey will be tabled in both Houses on the first day of the budget session, as per reports. Finance Minister Nirmala Sitharaman is likely to present the Union Budget in Parliament on February 1.
Overseas, Asian stocks are trading mostly lower on Thursday after tracking losses on Wall Street overnight.
US stocks dropped sharply on Wednesday, their biggest daily drops in more than a month, after weak economic data fueled recession worries while hawkish comments from Federal Reserve officials soured investor moods further.
Cleveland Federal Reserve President Loretta Mester said Wednesday that interest rates have to keep moving higher even with recent inflation readings softening. As per reports, the policymaker said the Fed likely will have to take its benchmark interest rate above 5% in order to get inflation moving consistently down to the central bank's 2% goal. She noted that markets and the economy absorbed the half-point December rate hike without a problem.
US retail sales fell by the most in a year in December. Retail sales plummeted 1.1% last month, the biggest drop since December 2021. Data for November was revised to show sales decreasing 1% instead of 0.6% as previously reported. Retail sales rose 6% year-on-year in December.
Back home, the benchmark indices registered strong gains on Wednesday, led by metals and financial stocks. The barometer index, the S&P BSE Sensex gained 390.02 points or 0.64% to 61,045.74. The Nifty 50 index added 112.05 points or 0.62% to 18,165.35.
Foreign portfolio investors (FPIs) sold shares worth Rs 319.23 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,225.96 crore in the Indian equity market on 18 January, provisional data showed.