Stocks may open higher

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 26 points at the opening bell.

Global markets:

Overseas, Asian stocks are mostly trading lower Monday as investors reacted to the release of key Chinese economic data.

China's economic growth continued to decelerate in the third quarter, as gross domestic product came in at 4.9%, softened by the country's zero-tolerance COVID measures and energy shortages. The figure slid from 7.9% for the April-to-June quarter, weighed down by high commodity prices amid uncertainty kindled by the Evergrande Group's debt crisis, which is piling risk onto the property and banking sectors.

US stocks rose on Friday as Goldman Sachs rounded out a week of strong quarterly earnings for the big banks.

Domestic markets:

Back home, benchmarks indices ended with strong gains on Thursday, extending their winning run to sixth consecutive session. Positive global stocks boosted sentiment. The barometer index, the S&P BSE Sensex, rallied 568.90 points or 0.94% to 61,305.95. The Nifty 50 index added 176.80 points or 0.97% to 18,338.55. The Indian stock market remained shut on Friday (15 October 2021) on account of Dussehra.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,681.60 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,750.59 crore in the Indian equity market on 14 October, provisional data showed.

Powered by Capital Market - Live News