SGX Nifty indicates firm opening

31 Oct 2022 , 08:29 AM

SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 167 points at the opening bell. Global markets: Overseas, Asian stocks are trading mixed on Monday as China factory activity missed expectations, and as markets look ahead to the U.S. Fed meeting later this week. Chinas factory activity shrank in October compared with September, data from the National Bureau of Statistics showed. The official manufacturing Purchasing Managers Index print came in at 49.2, missing expectations for a reading of 50. In September, the PMI reading stood at 50.1. Chinas official non-manufacturing PMI came in at 48.7, compared with a print of 50.6 in September. A robust, broad-based rally sent the Wall Street to a sharply higher close on Friday as encouraging economic data and a sunnier earnings outlook fueled investor risk appetite ahead of next weeks much-anticipated two-day policy meeting of the Federal Reserve. Domestic markets: Back home, the key equity barometers ended with modest gains on Friday. Strengthening rupee and decent Q2 earnings supported buying in domestic shares. The barometer index, the S&P BSE Sensex, rose 203.01 points or 0.34% to 59,959.85. The Nifty 50 index gained 49.85 points or 0.28% to 17,786.80. Foreign portfolio investors (FPIs) bought shares worth Rs 1,568.75 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 613.37 crore in the Indian equity market on 28 October, provisional data showed. Powered by Capital Market – Live News