SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 97 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed Tuesday following a mixed Wall Street session after a big downturn in tech shares.

Japan's economy expanded at a slower-than-initially-reported pace. The economy grew an annualised 11.7% in October-December, weaker than the preliminary reading of 12.7% annualised growth to mark the second straight quarter of growth, Cabinet Office data showed Tuesday.

Technology-related shares sold off on Monday in a big downturn that pushed the Nasdaq into a correction and offset stocks that rose on hopes the $1.9 trillion COVID-19 relief bill will spur the U.S. economic recovery. The Dow hit a record intra-day high.

Investors will watch as the U.S. House of Representatives plans to pass a $1.9 trillion coronavirus relief bill to get fresh aid to Americans starting this month. That follows after the Senate passed the legislation over the weekend. President Joe Biden is expected to sign it into law before unemployment aid programs expire on March 14.

U.S. Treasury Secretary Janet Yellen said on Monday the package would fuel a “very strong” U.S. recovery and she did not expect the economy to run too hot because of the increased spending.

Domestic markets:

Back home, domestic equity market started on a strong note, but gave up all gains during the latter half of the day. The barometer index, the S&P BSE Sensex, rose 35.75 points or 0.07% to settle at 50,441.07. The Nifty 50 index added 18.10 points or 0.12% to end at 14,956.20.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,494.49 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 483.62 crore in the Indian equity market on 8 March, provisional data showed.

Powered by Capital Market - Live News