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SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could jump 139 points at the opening bell.
On the macro front, the country’s retail inflation, measured by the Consumer Price Index (CPI), eased marginally to 6.26% in the month of June. Separately, India’s factory output, measured in terms of the Index of Industrial Production (IIP), witnessed a year-on-year growth of 29.3% in May, two separate data released by the Ministry of Statistics & Programme Implementation (MoSPI) showed on Monday. The retail inflation during the month of May was at 6.30%. The IIP had crashed (-)33.4% on-year to 90.2 in May 2020, the data showed. This was mainly due to the nationwide lockdown which was imposed last year to curb the first wave of coronavirus (Covid-19) pandemic.
Global markets: Overseas, Asian stocks traded higher on Tuesday as investors awaited the release of China’s trade data for June.
Wall Street’s main indexes rose on Monday, with the Nasdaq and the S&P 500 hitting record highs as investors awaited the start of the second-quarter earnings season and a batch of economic data to gauge the next leg of the equity market.
Investors appeared cautiously optimistic ahead of the start of second-quarter earnings reports. Investors also anticipate important data to be released this week, including key readings on inflation on Tuesday and Wednesday, and June retail sales on Friday.
Federal Reserve chair Jerome Powell is set to testify before Congress on Wednesday and Thursday, and investors will be looking for any signals of fiscal policy updates.
Domestic markets: Back home, the benchmark indices ended near flat line after a volatile session on Monday. The barometer index, the S&P BSE Sensex, fell 13.50 points or 0.03% to 52,372.69. The Nifty 50 index rose 2.80 points or 0.02% to 15,692.60.
Foreign portfolio investors (FPIs) sold shares worth Rs 745.97 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 447.42 crore in the Indian equity market on 12 July, provisional data showed.
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