SGX Nifty indicates negative opening for Sensex, Nifty

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Trading could be volatile today traders roll over positions in the F&O segment from the near month September series to October series. The September 2021 F&O contract expires today, 30 September 2021. On the other hand, SGX Nifty indicates that the Nifty could slide 47 points at the opening bell. Overseas, Asian stocks traded mixed on Thursday as investors reacted to the release of Chinese factory activity data for September. China’s official manufacturing Purchasing Managers’ Index for September came in at 49.6.

Meanwhile, a private survey on Chinese factory activity in September came in above expectations, with the Caixin/Markit manufacturing PMI for the month rising to 50 for the month as compared with August’s reading 49.2. In China, investors continue to monitor the situation at China Evergrande Group. As per reports, some bondholders did not receive a due coupon payment by the close of Asia business hours on Wednesday.

Wall Street ended firmer on Wednesday in a partial rebound from the previous day’s broad sell-off, with remarks from US Federal Reserve Chairman Jerome Powell and the ongoing debt ceiling debate keeping a lid on gains. The S&P 500 index and the Dow Jones Industrial Average advanced, but the Nasdaq Composite closed lower. Federal Reserve Chair Jerome Powell and his counterparts in Japan, Europe and the UK voiced cautious optimism that supply-chain disruptions lifting inflation rates around the world would ultimately prove temporary.

Back home, key indices ended with modest losses on Wednesday, tracking mixed Asian cues. The barometer index, the S&P BSE Sensex, fell 254.33 points or 0.43% to 59,413.27. The Nifty 50 index fell 37.30 points or 0.21% to 17,711.30. Foreign portfolio investors (FPIs) sold shares worth Rs 1,896.02 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,262.16 crore in the Indian equity market on 29 September, provisional data showed.