SGX Nifty indicates flat start for Indian indices

SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 2 points at the opening bell.

Global markets: Overseas, Asian stocks are trading mixed on Monday as investors watched moves in the Turkish lira following a sudden upheaval at the country’s central bank. The Turkish lira slumped toward a record low versus the dollar after President Tayyip Erdogan stunned investors over the weekend by replacing the hawkish central bank governor with a critic of high interest rates.

China’s one-year Loan Prime Rate (LPR) and five-year LPR were left unchanged at 3.85% and 4.65%, respectively, on Monday.

US stocks closed mostly lower Friday and booked losses for the week, with bank shares under pressure after the Federal Reserve said it would not extend temporary relief from capital-requirement rules for banks. The Dow Jones Industrial Average fell 234.33 points, or 0.71%, to 32,627.97, the S&P 500 lost 2.36 points, or 0.06%, to 3,913.10 and the Nasdaq Composite added 99.07 points, or 0.76%, to 13,215.24

Domestic markets:

Back home, key benchmark indices ended near the day’s high with strong gains on Friday. The barometer index, the S&P BSE Sensex, gained 641.72 points or 1.30% to 49,858.97. The Nifty 50 index gained 186.15 points or 1.28% at 14,744.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,418.43 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 559.62 crore in the Indian equity market on , provisional data showed.

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