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Market may slump in early trade

·1-min read

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slump 212 points at the opening bell.

India Inc is geared up to report its March quarter earnings from next week onwards with IT bellwether Tata Consultancy Services (TCS) scheduled to kick start the results season from today, 12 April 2021.

On the macro front, the Industrial Production and Manufacturing Production data for February will be released today, 12 April 2021.

Global markets:

Overseas, Asian stocks are trading mixed on Monday trade after the Dow Jones Industrial Average and S&P 500 notched record closing highs on Friday.

In US, the Dow Jones Industrial Average and S&P 500 index closed at record highs Friday as investors remain cautiously optimistic about economic growth and progress against the pandemic. Stocks linked to the recovering economy led the gains again amid the accelerating vaccine rollout.

On the data front, the U.S. producer-price index rose 1% in March, the U.S. Labor Department said Friday. The rate of wholesale inflation over the past 12 months climbed to 4.2% in March. That's the highest level since September 2011.

Domestic markets:

Back home, the domestic equity benchmarks ended with small losses after a volatile session on Friday. The barometer index, the S&P BSE Sensex, declined 154.89 points or 0.31% to 49,591.32. The Nifty 50 index lost 38.95 points or 0.26% to 14,834.85.

Foreign portfolio investors (FPIs) sold shares worth Rs 653.51 crore, while domestic institutional investors (DIIs), were also net sellers to the tune of Rs 271.26 crore in the Indian equity market on 9 April, provisional data showed.



Source: Capitalmarket.com