SGX Nifty indicates positive start for Indian indices
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could jump 195 points at the opening bell.f
SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could jump 195 points at the opening bell.
Trading could be volatile in the forthcoming week as traders roll over positions in the F&O segment from the near month January series to February series. The February 2021 F&O contracts will expire today, 25 February 2021.
Global markets:
Overseas, Asian stocks are trading higher on Thursday after the Dow Jones Industrial Average surged to a record closing high overnight.
Shares on Wall Street ended higher on Wednesday, as a selloff in technology-related stocks eased and a rotation into cyclical shares continued after Federal Reserve Chair Jerome Powell’s comments calmed inflation worries.
The moves on Wall Street came as U.S. Federal Reserve Chair Jerome Powell continued to downplay the threat of inflation, saying it could take three years to reach the central bank’s target consistently.
In Wednesday’s testimony in front of the House Financial Services Committee, Powell said inflation could be volatile as the economy reopens and there’s increased demand. Still, the Fed chair does not expect inflation to run hot and said the central bank has tools to combat it if it should.
On Wednesday, the Food and Drug Administration’s staff endorsed Johnson & Johnson’s single-shot Covid-19 vaccine for emergency use, bringing in a third vaccine to the U.S.
Domestic markets:
Back home, domestic equity benchmarks ended with robust gains in the extended trading session on Wednesday. The Nifty ended near the 15,000 mark. The barometer index, the S&P BSE Sensex, jumped 1,030.28 points or 2.07% to 50,781.69. The Nifty 50 index added 274.20 points or 1.86% to 14,982.
Foreign portfolio investors (FPIs) bought shares worth Rs 28,739.17 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 230.44 crore in the Indian equity market on 25 February, provisional data showed.
Powered by Capital Market – Live News