BSE Sensex and Nifty 50 were likely to open in negative territory on Tuesday, amid a surge in COVID-19 cases and mixed global cues.
BSE Sensex and Nifty 50 were likely to open flat on Tuesday, amid a surge in COVID-19 cases and mixed global cues. Investors will closely watch the trends in rising coronavirus cases, ongoing vaccination drive, stock-specific development and foreign fund inflow. Also, Indian markets will track global cues after the recent announcement of infra investment plan by US president. Market participants would now focus on upcoming quarterly results which would kick start from mid-April. Domestically, concerns over the fast spreading 2nd wave of Covid in India continues to remain, said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
SGX Nifty flat: Nifty futures were trading flat, up 17 points or 0.12 per cent at 14,739 on Singaporean Exchange, hinting at a flat to positive opening on Tuesday.
FII and DII activity: On Monday, foreign institutional investors offloaded shares worth Rs 931.66 crore, while domestic institutional investors (DIIs) lapped up shares worth Rs 75.48 crore on a net basis in the Indian equity market, as per provisional data available on the NSE.
Global watch: Asian stock markets were trading mixed on Tuesday with Japan’s Nikkei 225 down nearly one per cent while the Topix index fell 0.8 per cent. South Korea’s Kospi also declined half a per cent. In overnight trade on Wall Street, US stock indices Dow Jones and S&P 500 closed at record levels. The Dow Jones Industrial Average rose 1.13 per cent, the S&P 500 gained 1.44 per cent, and the Nasdaq Composite added 1.67 per cent.
Gross FDI inflows hit record $72 bn: Gross foreign direct investment (FDI) inflows in India rose 15% year-on-year in the first ten months of this fiscal to a record $72.12 billion. Gross inflows, which include FDI in equities, reinvested earnings, equity capital of unincorporated bodies and other capital, were boosted by an almost 46% surge, year on year, witnessed in the computer software and hardware segments.
RBI MPC decision on Apr 7: RBI Governor Shaktikanta Das-headed rate-setting panel MPC started its three-day deliberation on monetary policy on Monday. The central bank will announce the resolution of the Monetary Policy Committee (MPC) on April 7. Experts are of the view that the Reserve Bank will maintain status quo on policy rates at its first bi-monthly monetary policy review for the current fiscal.