GIFT Nifty:
Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 39 points at the opening bell.
Global markets:
Overseas, Asian stocks are trading higher on Monday. Japan’s Nikkei 225 index hit a fresh record high Monday as traders returned from a long weekend. Investors will focus on a slew of economic data expected this week including China’s manufacturing purchasing managers’ index and the U.S. personal consumption expenditures price index data, which is the Federal Reserve’s preferred inflation gauge.
In US, the S&P 500 and Dow Jones Industrial Average eked out record closing high on Friday, as artificial intelligence stocks had enough steam to keep the rally chugging along.
Meanwhile, Federal Reserve Bank of New York President John Williams reportedly said in an interview published Friday that the economy is headed in the right direction, and it will likely be appropriate to cut rates later this year.
Domestic markets:
Back home, domestic stock market closed flat on Friday after reaching record highs in early trade. The barometer index, the S&P BSE Sensex, shed 15.44 points or 0.02% to 73,142.80. The Nifty 50 index lost 4.75 points or 0.02% to 22,212.70.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,276.09 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 176.68 crore in the Indian equity market on 23 February, provisional data showed.