SGX Nifty indicates positive opening for Indian markets

Retail sales growth in China slumped heavily in August further, accentuating the slowdown in the Chinese economy, the latest economic data shows.

  • Publish Date - September 15, 2021 / 08:51 AM IST
SGX Nifty indicates positive opening for Indian markets
India's exports rose by 45.76% to $33.28 billion in August, as against $22.83 billion in the same month last year

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 27 points at the opening bell. On the macro front, India’s exports rose by 45.76% to $33.28 billion in August, as against $22.83 billion in the same month last year, according to commerce ministry data released on Tuesday. Imports during the month increased by 51.72% to $47.09 billion, the data showed. Trade deficit in August widened to $13.81 billion as against $8.2 billion in the same month last year.

Global markets:
Overseas, Asian stocks are trading lower on Wednesday following losses overnight on Wall Street, with investors reacted to the release of Chinese economic data. Retail sales growth in China slumped heavily in August further, accentuating the slowdown in the Chinese economy, the latest economic data shows. Retail sales grew by a mere 2.5% in August compared with a year earlier, way down from the 8.5% increase in July. Industrial production grew by 5.3% in August from a year earlier after a 6.4% gain in July.

US stock indices closed lower Tuesday, giving up gains earlier in the session after a better than-feared inflation reading and falling back into their September doldrums.

US consumer prices rose a lower-than-expected 0.3% in August, the smallest increase in seven months and a hopeful sign that inflation pressures may be cooling. The August gain fell from a 0.5% increase in July and a 0.9% surge in June, the Labor Department reported Tuesday. It was the smallest increase since a similar 0.3% rise in January.

Domestic markets:
Back home, key indices ended a volatile trading session with small gains on Tuesday. The barometer index, the S&P BSE Sensex, rose 69.33 points or 0.12% at 58,247.09. The Nifty 50 index gained 24.70 points or 0.14% at 17,380, its record closing high. Foreign portfolio investors (FPIs) bought shares worth Rs 1,649.60 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 310.31 crore in the Indian equity market on 14 September, provisional data showed.

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