Sensex, Nifty may see a soft opening

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 13 points at the opening bell. Overseas, Asian stocks are trading mixed on Tuesday, as data showed accelerating Chinese factory activity growth in December.

China’s factory activity grew at its fastest pace in six months in December, driven by production hikes and easing price pressures, a private survey showed on Tuesday. The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) rose to 50.9 in December, from 49.9 in November.

In US, the S&P 500 and Dow Jones Industrial Average posted closing record highs on the first trading day of the year on Monday, helped by gains in Tesla Inc and bank shares.

Domestic markets

Back home, the market kicked off the calendar year 2022 on a robust note as the Nifty settled above 17,600 mark. The barometer index, the S&P BSE Sensex, jumped 929.40 points or 1.60% at 59,183.22. The Nifty 50 index surged 271.65 points or 1.57% at 17,625.70.

Foreign portfolio investors (FPIs) bought shares worth Rs 902.64 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 803.11 crore in the Indian equity market on 3 January, provisional data showed.