(22-Jul-2021)Market may spurt in early trade

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could jump 148 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Thursday after solid company earnings boosted Wall Street, easing concerns about peak economic growth and coronavirus flareups. Markets in Japan are closed on Thursday for a holiday.

Wall Street stocks posted their second straight daily gain on Wednesday, with robust corporate earnings and renewed optimism about the U.S. economic recovery fueling a risk-on rally.

Domestic markets:

Back home, the stocks markets were shut on Wednesday, 21 July 2021 for Bakri-Id. Domestic equity indices tumbled on Tuesday, 20 July 2021 tracking weak cues from other Asian stock markets.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,834.96 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 873.14 crore in the Indian equity market on 20 July, provisional data showed.