Firm opening on the cards

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could rise 81 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Monday as the focus shifted from Middle East tensions to company earnings and economic data for insight into the direction of central bank policy. Investors look to fresh data points out of China, Japan and South Korea this week.

Chinas central bank left its one- and five-year loan prime rates unchanged at 3.45% and 3.95%, respectively on Monday. The one-year LPR is seen as the peg for most household and corporate loans, while the five-year LPR is the benchmark for most property mortgages.

In US, the Nasdaq and the S&P 500 closed sharply lower on Friday as investors juggled lackluster earnings, uncertainties surrounding central bank policy and geopolitical strife.

Domestic markets:

Back home, domestic stock market staged a comeback on Friday, ending a four-day losing streak. The barometer index, the S&P BSE Sensex jumped 599.34 points or 0.83% to 73,088.33. The Nifty 50 index gained 151.15 points or 0.69% to 22,147. In the previous four trading sessions, the Sensex shed 3.40% while the Nifty 50 declined 3.33%.

Foreign portfolio investors (FPIs) bought shares worth Rs 129.39 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 52.50 crore in the Indian equity market on 19 April, provisional data showed.

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