Sensex, Nifty may open lower

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 26 points at the opening bell. The gross GST (Goods and Services Tax) revenue collected in December 2021 stood at Rs 1,29,780 crore, which is slightly lower than the revenue collected in November. The gross GST collection in November stood at Rs 1.31 lakh crore.

Global markets

Overseas, Asian stocks are trading mixed on Monday as trading in 2022 kicked off, with some major markets in the region closed. Markets in Australia, mainland China and Japan are closed on Monday for a holiday.

Singapore’s economy grew slightly more than expected in the fourth quarter from a year earlier, preliminary data showed on Monday. Gross domestic product (GDP) expanded 5.9% in October-December on a year-on-year basis, the Ministry of Trade and Industry said in a statement.

U.S. stocks finished their final trading session of the year lower, capping off a record-setting 2021 that came despite the persistent headwinds of Covid-19.

Domestic markets

Back home, the domestic equity benchmarks ended with decent gains on the last trading day of 2021. The barometer index, the S&P BSE Sensex, rose 459.50 points or 0.80% to 58,253.82. The Nifty 50 index added 150.10 points or 0.87% to 17,354.05.

Foreign portfolio investors (FPIs) bought shares worth Rs 575.39 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,165.62 crore in the Indian equity market on 31 December, provisional data showed.