Market may open with small losses

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 30 points at the opening bell.

On the macro front, India's retail inflation as measured by the Consumer Price Index (CPI) slowed to 4.29 percent in the month of April from 5.52 percent in March, mainly due to easing food prices, government data showed on Wednesday.

While industrial output as measured by the Index of Industrial Production (IIP) grew 22.4 percent in the month of March 2021 as compared to 16.7 percent in the year-ago period.

Global markets:

Overseas, Asian stocks are trading higher on Friday, following overnight gains in US stocks.

Wall Street ended sharply higher at the close of a broad rally on Thursday, bouncing back from three straight days of selling on upbeat labor market data.

Domestic markets:

Back home, equity indices ended with steep losses on Wednesday, sliding for the second trading session. The barometer index, the S&P BSE Sensex, dropped 471.01 points or 0.96% at 48,690.80. Indian stock markets were closed yesterday, 13 May 2021 on account of Id-Ul-Fitr (Ramzan Id).

Foreign portfolio investors (FPIs) sold shares worth Rs 1,260.59 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 704.36 crore in the Indian equity market on 12 May, provisional data showed.

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