SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 17 points at the opening bell.
On the macro front, India's industrial growth, as per the Index of Industrial Production (IIP), edged up to 1.7% in February from 1.5% in January, government data released yesterday showed.
India's retail inflation jumped to a 17-month high of 6.95% in March from 6.07% in February, government data released yesterday showed.
This is a truncated trading week with stock markets remaining closed on Thursday, 14 April 2022 on account of Mahavir Jayanti / Dr.Baba Saheb Ambedkar Jayanti. Markets will also remain closed on Friday, 15 April 2022 due to Good Friday.
Global markets:
Overseas, Asian stocks are trading mixed on Wednesday as investors watched for market reaction to the release of a slightly hotter-than-expected U.S. inflation report.
The Reserve Bank of New Zealand on Wednesday announced its decision to raise the official cash rate by 50 basis points to 1.5%. The Committee agreed it is appropriate to continue to tighten monetary conditions at pace to best maintain price stability and support maximum sustainable employment, the RBNZ said in a release.
US stocks fell on Tuesday, after an early morning bounce gave way to selling as investors weighed the latest U.S. inflation data. The report showed another sharp increase in prices for last month.
U.S. consumer prices rose 8.5% in March as compared with a year ago, the fastest annual gain since December 1981, according to official data released Tuesday. The core consumer price index which excludes food and energy, however, showed signs it may be ebbing. It rose 0.3% for the month.
Domestic markets:
Back home, the domestic equity barometers ended with steep losses on Tuesday amid mixed global cues. The S&P BSE Sensex shed 388.20 points or 0.66% to 58,576.37. The Nifty 50 index dropped 144.65 points or 0.82% to 17,530.30.
Foreign portfolio investors (FPIs) sold shares worth Rs 3,128.39 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 870.01 crore in the Indian equity market on 12 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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