Market may open slightly higher

14 Nov 2022 , 08:45 AM

SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 19 points at the opening bell. On the macro fronr, Indias industrial growth, as per the Index of Industrial Production (IIP), rose to 3.1% in September, data released on Friday showed. The growth was primarily owing to a rise in manufacturing and mining outputs. The IIP had grown 4.4% in September 2021. According to the government data, the output of the manufacturing sector rose 1.8% in September 2022 as against an 4.3% growth recorded in the year-ago period, as per latest data from the National Statistical Office (NSO). Global markets: Overseas, Asian stocks are trading mixed on Monday as a top U.S. central banker warned investors against getting carried away over one inflation number. US stocks ended sharply higher on Friday amid continued optimism over cooler-than-expected US inflation print. Meanwhile, U.S. President Joe Biden will meet Chinese leader Xi Jinping in person on Monday for the first time since taking office, with U.S. concerns over Taiwan, Russias war in Ukraine and North Koreas nuclear ambitions on top of his agenda. Domestic markets: Back home, the headline equity indices ended with stellar gains on Friday, mirroring strong global cues. The barometer index, the S&P BSE Sensex, surged 1,181.34 points or 1.95% to 61,795.04. The Nifty 50 index gained 321.50 points or 1.78% to 18,349.70. Foreign portfolio investors (FPIs) bought shares worth Rs 3,958.23 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,958.23 crore in the Indian equity market on 11 November, provisional data showed. Powered by Capital Market – Live News