SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 116 points at the opening bell.
Global markets:
Overseas, Asian stocks were mixed in Monday trade as investors continue to monitor the situation surrounding the coronavirus pandemic.
Amid the pandemic, China surpassed the U.S. as the world's largest recipient of foreign direct investment, according to a report released Sunday from the United Nations Conference on Trade and Development. China brought in $163 billion in inflows last year, compared to $134 billion attracted by the U.S., according to the report.
Developments around Covid-19 are likely to be watched by investors, as the world races to adapt against the mutating coronavirus which has produced a number of potentially more infectious variants.
In US, stocks finished mixed on Friday the S&P 500 and Dow finished in the red while the Nasdaq Composite closed at a record high. The Dow and S&P 500 ended modestly lower on Friday, dragged down by losses in blue-chip technology stalwarts Intel and IBM following their quarterly results.
Domestic markets:
Back home, domestic shares slumped on Friday, led by steep selling in banks stocks. Global stocks corrected as investors locked profits after a recent rally that was driven by hopes of a massive US economic stimulus plan by incoming President Joe Biden. The S&P BSE Sensex, tumbled 746.22 points or 1.5% at 48,878.54. The Nifty 50 index dropped 218.45 points or 1.5% at 14,371.90.
Foreign portfolio investors (FPIs) sold shares worth Rs 635.69 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,290.35 crore in the Indian equity market on 22 January, provisional data showed.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU