SGX Nifty indicates flat start for Indian equity indices

SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 8 points at the opening bell.

The Supreme Court would deliver its judgment in the loan moratorium case today, 23 March 2021, as per reports.

Global markets:

Overseas, Asian stocks are trading mixed on Tuesday, with Chinese search giant Baidu making its debut in Hong Kong.

U.S. stocks jumped on Monday led by technology shares as investors flocked back into growth names amid declining bond yields.

The moves came as the 10-year Treasury yield declined 5 basis points to around 1.68% (1 basis point equals 0.01%), following a 14-month high touched last week. It last stood at 1.6964%.

U.S. trial data released Monday showed the Covid vaccine developed by AstraZeneca and the University of Oxford is 79% effective in preventing symptomatic illness and 100% effective against severe disease and hospitalization.

Domestic markets:

Back home, domestic equity benchmarks ended with minor cuts after a volatile session on Monday. Mixed global cues and rising COVID-19 cases in India spoiled sentiment. The barometer index, the S&P BSE Sensex, slipped 86.95 points or 0.17% to 49,771.29. The Nifty 50 index declined 7.60 points or 0.05% to 14,736.40.

Foreign portfolio investors (FPIs) sold shares worth Rs 786.98 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 542.70 crore in the Indian equity market on 22 March, provisional data showed.

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