SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 136 points at the opening bell.
On the macro front, India's retail inflation rose sharply to 5.59% in the month of December from 4.91% in November, pushed up by rising prices of manufactured items, data released by the government showed on Wednesday. Inflation as measured by Consumer Price Index (CPI) was 4.59% in the year-ago period.
Separately, industrial production for the month of November grew by 1.4% as compared to (-)1.6 % in the same month last year. IIP surged 3.2% in the month of October.
Meanwhile, amid the sharp rise in COVID-19 cases across the country, Prime Minister Narendra Modi will to hold a review meeting with chief ministers of all states and Union territories on January 13. The meeting will be held at 16:30 IST via video conferencing.
Global markets:
Overseas, Asian stocks are trading mixed on Thursday as Wall Street saw gains despite a red-hot inflation report that set market expectations for rate hikes.
U.S. stocks moved slightly higher Wednesday after a key inflation report showed a historic gain but largely matched expectations.
December reading for the consumer price index, a gauge of prices across a broad spectrum of goods, showed a gain of 7% year over year. That is the biggest jump since 1982, but was in line with expectations.
Investors are keeping an eye on Covid developments, as the World Health Organization reported a record 15 million new Covid-19 cases globally for a single week, as omicron rapidly replaces delta as the dominant variant across the globe. The World Health Organization warned that omicron cases are off the charts.
Domestic markets:
Back home, benchmark indices ended with strong gains on Wednesday, extending their winning run to fourth consecutive session. The barometer index, the S&P BSE Sensex, advanced 533.15 points or 0.88% at 61,150.04. The Nifty 50 index gained 156.60 points or 0.87% to close at 18,212.35.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,001.57 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,332.01 crore in the Indian equity market on 12 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