Market may open a tad lower

September 13,2021

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 15 points at the opening bell.

On the macro front, Industrial growth slowed to 11.5% in July against 13.5% in June because expansion in the biggest segment, manufacturing, along with mining, saw deceleration despite easing pandemic-related restrictions.

Global markets:

Overseas, Asian stocks are trading lower on Monday, with stocks in Hong Kong leading losses. Chinese technology stocks were under pressure after a report that China is seeking to break up Ant Group Co.'s Alipay and create a separate app for its loan business. Trade tension is also in the spotlight again after the Biden administration was said to be reportedly weighing a new probe into Chinese subsidies.

Elsewhere, North Korea said it successfully test-fired a new type of long-range cruise missile, ratcheting up tensions on the Korean Peninsula.

Wall Street ended lower on Friday as investors weighed signs of higher inflation, while Apple Inc tumbled following an unfavorable court ruling related to its app store.

Looking ahead for the week, the U.S. consumer price index for August is set to be out on Tuesday, while retail sales figures stateside are expected Thursday. A slew of Chinese economic data, including retail sales and industrial production for August, is also set to be out on Thursday.

Domestic markets:

Back home, the domestic equity barometers ended flat with some positive bias on Thursday. The barometer index, the S&P BSE Sensex, advanced 54.81 points or 0.09% to 58,305.07. The Nifty 50 index added 15.75 points or 0.09% to 17,369.25. The domestic stock market were closed on Friday, 10 September 2021, on account of Ganesh Chaturthi.

Foreign portfolio investors (FPIs) bought shares worth Rs 423.44 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 704.21 crore in the Indian equity market on 9 September, provisional data showed.

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