Share Market LIVE: Nifty, Sensex may open in green as SGX Nifty jumps 170 pts; Q4FY23 GDP eyed
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Nifty, Sensex are likely to open in the green as SGX Nifty soared in trade on Monday morning.
Share Market News Today | Sensex, Nifty, Share Prices LIVE: The SGX Nifty gained 0.94% in trade on Monday morning, signaling that domestic indices NSE Nifty 50 and BSE Sensex would open on a positive basis. Nifty futures were 174 points higher on the Singaporean exchange at 18,722. Domestic indices soared in trade on Friday. NSE Nifty 50 touched a fresh high for the calendar year 2023, crossing the 18,500 mark. However, the index gave up that level to close at 18,499, up 0.97%. Sensex surged over 1% intraday, reclaiming and closing above the 62,500 mark.
“Despite weak cues from global markets, the domestic market defied the trend and experienced a widespread rally, driven by the strong growth forecast for the Indian economy. With the upcoming Q4 GDP data, it is anticipated that India’s FY23 GDP will marginally surpass the earlier projected 7.0% growth rate. Additionally, the expectation of a normal monsoon and consistent FII buying further boosted confidence among domestic investors,” said Vinod Nair, Head of Research, Geojit Financial Services.