Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 107 points at the opening bell.
The earnings season for the quarter and financial year ended March will take off from today. IT major TCS will declare its Q4 result today, 11 April 2022.
Overseas, Asian stocks are trading lower on Monday as investors reacted to Chinese inflation data for March. China’s producer inflation for March was higher than expected. The producer price index surged 8.3% as compared with a year ago, official data showed Monday. Chinese consumer inflation also rose more than expected in March, with the consumer price index climbing 1.5% year-on-year.
US stocks ended mixed Friday, with the technology-laden Nasdaq Composite and S&P 500 closing lower, as investors continued to digest the Federal Reserve’s plans to aggressively raise interest rates and shrink its balance sheet.
Back home, the equity benchmarks snapped their three day losing streak and settled with strong gains on Friday. Domestic sentiment got a boost after RBI left key policy rates unchanged. Positive global cues also supported buying. The barometer index, S&P BSE Sensex added 412.23 points or 0.7% at 59,447.18. The Nifty 50 index gained 144.8 points or 0.82% at 17,784.35.
Foreign portfolio investors (FPIs) sold shares worth Rs 575.04 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 16.51 crore in the Indian equity market on 8 April, provisional data showed.
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