SGX Nifty hints at strong open

14 Oct 2022 , 08:00 AM

SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could surge 329.50 points at the opening bell. Global Markets: The US Dow Jones index futures were 159 points, indicating a positive opening in the US stocks today. Asian shares rallied on Friday, taking cues from US stocks overnight. Singapores gross domestic product in the July-to-September quarter came in at 4.4%, much higher than expected. Separately, the countrys central bank tightened monetary policy for the fifth time in a year, in line with expectations, as rising costs continue to weigh on the economy. US stocks ended sharply higher after a volatile session on Thursday, with each major index gaining more than 2%. The Dow Jones Industrial Average rose 827 points, or 2.83%, to close at 30,038.06 after being down more than 500 points earlier in the day. The S&P 500 ticked up 2.60% to 3,669.87, breaking a six-day losing streak. The Nasdaq Composite gained 2.23% to end the day at 10,649.15. In the U.S., inflation data showed consumer prices increased more than expected in September, with CPI rising 0.4% from August, and 8.2% from September last year. Core inflation was up 6.6% from a year ago, the biggest 12-month gain since August 1982. Domestic Equity Market: Indian equities retreated from early highs to end with deep losses on Thursday, declining for the second consecutive day. The Sensex and the Nifty lost about 0.7% each as a lack of fresh triggers and subdued global cues weighed on the sentiment. The mid-cap space, however, showed some resilience. Trading was volatile due to the expiry of weekly index options on the NSE Thursday. The barometer index, the S&P BSE Sensex, declined 412.96 points or 0.68% to 59,934.01. The Nifty 50 index declined 126.35 points or 0.70% to 17,877.40. Foreign portfolio investors (FPIs) sold shares worth Rs 1,636.43 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 753.29 crore in the Indian equity market on 13 October 2022, provisional data showed. Powered by Capital Market – Live News