SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 71 points at the opening bell.
Global markets:
Overseas, Asian stocks are trading mixed on Friday following an overnight drop on Wall Street.
U.S stocks reversed lower in a swift fashion on Thursday after reports that President Joe Biden is slated to propose much higher capital gains taxes for the rich. Biden is planning a capital gains tax hike to as high as 43.4% for wealthy Americans. The proposal would hike the capital gains rate to 39.6% for those earning $1 million or more, up from 20% currently, as per reports.
On the economic front, the number of Americans applying for unemployment aid fell last week to 547,000, a new low since the pandemic struck and a further encouraging sign that layoffs are slowing on the strength of an improving job market. The Labor Department said on Thursday that applications declined 39,000 from a revised 586,000 a week earlier.
Domestic markets:
Back home, the domestic equity benchmarks ended near the day's high on Thursday, led by strength in banks and financial shares. The barometer index, the S&P BSE Sensex, rose 374.87 points or 0.79% to 48,080.67. The Nifty 50 index added 109.75 points or 0.77% to 14,406.15.
Foreign portfolio investors (FPIs) sold shares worth Rs 909.56 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 849.98 crore in the Indian equity market on 22 April, provisional data showed.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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