SGX Nifty indicates a flat opening for Sensex, Nifty

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 5 points at the opening bell. As Asian stocks are trading mixed on Tuesday as investors look ahead to the release of Chinese August trade data. The Reserve Bank of Australia is also set to release its rate decision. Whereas Markets in the U.S. were closed on Monday for a holiday.

Domestic markets

Back home, key benchmark indices advanced for the third straight session and attained record closing levels on Monday, supported by firm global stocks. The barometer index, the S&P BSE Sensex, added 166.96 points or 0.29% to 58,296. The Nifty 50 index advanced 54 points or 0.31% to 17,377.

Foreign portfolio investors (FPIs) sold shares worth Rs 589.36 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 547.31 crore in the Indian equity market on 6 September, provisional data showed.

Economy

India’s foreign exchange reserves rose by $16.663 billion to touch a record high of $633.558 billion in the week ended 27 August 2021, the Reserve Bank of India (RBI) data showed. According to RBI data, forex reserves rose to a record $633.558 billion, mainly due to an increase in Special Drawing Rights (SDR) holdings.

In the reporting week ended August 27, 2021, the country’s SDR holdings rose by $17.866 billion to $19.407 billion, according to weekly data released by the Reserve Bank of India (RBI) on Friday.

Foreign currency assets (FCAs), a major component of the overall reserves, fell by $1.409 billion to $571.6 billion in the reporting week. Gold reserves rose by $192 million to $37.441