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Indices may open on flat note
31-Mar-23   08:25 Hrs IST

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 2 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Friday as technology stocks continued to see renewed interest and led gains on Wall Street, with some shaking off concerns of a further banking crisis.

US stocks rose on Thursday as investors are looking towards more clarity from US regulatory agencies on struggling banks and shares of technology and bank stocks mostly remained flat.

President Joe Biden urged federal regulators Thursday to take up a set of reforms to safeguard the banking system, following the failures of Silicon Valley Bank and Signature Bank. The administration wants regulators to take a range of steps to reinstate safeguards for banks with assets between $100 billion and $250 billion and “strengthen oversight and regulation of larger banks so that we are not in this position again,” the White House said on Thursday.

Domestic markets:

Back home, the domestic equity benchmarks advanced on Wednesday, mirroring positive global cues. The barometer index, the S&P BSE Sensex gained 346.37 points or 0.60% to 57,960.09. The Nifty 50 index added 129 points or 0.76% to 17,080.70. The domestic stock market remained shut on Thursday, 30 March 2023, on account of Ram Navami.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,245.39 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 822.99 crore in the Indian equity market on 29 March, provisional data showed.

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