97041In view of reduced inflation and expenses, will it be right to invest in IT stocks?
Credit Suisse reportedly expects the economy to continue to show positive surprises and record up to 9% growth in the next fiscal.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 23 points at the opening bell. Meanwhile, Swiss brokerage Credit Suisse reportedly expects the economy to continue to show positive surprises and record up to 9% growth in the next fiscal. For the current financial year too, the brokerage anticipates growth to be higher than the consensus forecast of 8.4-9.5%, and printing in at around 10.5%.
Global markets
Overseas, Asian stocks are trading lower on Friday as investors assess risks associated with the new omicron Covid variant and look ahead to key inflation data in the U.S.
Wall Street closed lower on Thursday as investors banked some profits after three straight days of gains and turned their focus toward upcoming inflation data and how it might influence the Federal Reserve’s meeting next week.
On Friday, the Labor Department will release the consumer price index for November. As per reports, the reading could mark its highest year-over-year level since 1982.
Domestic markets
Back home, the domestic equity benchmarks ended with decent gains on Thursday, extending their winning streak for third consecutive session. The barometer index, the S&P BSE Sensex, rose 157.45 points or 0.27% to 58,807.13. The Nifty 50 index added 47.10 points or 0.27% to 17,516.85. Both the indices have risen about 3.60% in three sessions.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,585.55 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 782.84 crore in the Indian equity market on 9 December, provisional data showed.