SGX Nifty indicates negative opening; RBI policy outcome eyed
06-Apr-23   08:35 Hrs IST

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 32 points at the opening bell.

The Reserve Bank of India (RBI) kicked off its monetary policy meeting on 3 April 2023. The outcome of the meeting will be announced today, 6 April 2023. The RBI's monetary policy committee (MPC) is widely expected to hike the repo rate by 25 basis points (bps) in order to combat rising inflation.

Global markets:

Overseas, Asian stocks are trading lower on Thursday as Wall Street digested the latest ADP private payrolls report, which showed slowing job growth in March.

US stocks ended mixed on Wednesday as investors look towards OPEC+ production cuts and inflation impact of the same with uncertainty still looming for the global economy.

Domestic markets:

Back home, key equity benchmarks extended their rising streak for a fourth straight session on Wednesday, 5 April 2023. The barometer index, the S&P BSE Sensex jumped 582.87 points or 0.99% to 59,689.31. The Nifty 50 index rose 159 points or 0.91% to 17,557.05.

Foreign portfolio investors (FPIs) bought shares worth Rs 806.82 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 947.21 crore in the Indian equity market on 5 April, provisional data showed.

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