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Market may open slightly higher; F&O expiry may trigger volatility
29-Mar-23   08:41 Hrs IST

Trading could be volatile today as traders roll over positions in the F&O segment from the near month March series to April series. The March 2023 F&O contracts will expire today, 29 March 2023. The domestic stock market will remain shut on Thursday, 30 March 2023 on account of Ram Navami.

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.

Global markets:

Overseas, Asian stocks are mostly higher on Wednesday as Alibaba's Hong Kong-listed shares spiked at the open after the Chinese tech giant announced it will split into six business groups.

Australia's monthly inflation pace for February came in at a slower pace at 6.8% compared to the same period a year ago. This is lower than January's figure of 7.4%. Data from the country's statistics bureau revealed that the most significant price rises were in the housing, followed by food and non-alcoholic beverages, then in transport.

US stocks ended slightly lower on Tuesday as investors weighed comments from a top US regulator on struggling banks and sold shares of technology-related names after their recent strong run.

Consumer confidence inched up in March after two straight monthly declines. The Conference Board reported Tuesday that its consumer confidence index rose to 104.2 in March from 103.4 in February. The board said that despite the uptick in confidence, the index remains below 2022's average level of 104.5.

Domestic markets:

Back home, the headline equity indices ended with minor cuts after a volatile session on Tuesday. The barometer index, the S&P BSE Sensex fell 40.14 points or 0.07% to 57,613.72. The Nifty 50 index lost 34 points or 0.20% to 16,951.70.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,531.13 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 156.11 crore in the Indian equity market on 28 March, provisional data showed.

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