Mumbai Disappointing data on retail price inflation and IIP, which were released after the home shutdown, did not affect the bullish bias of foreign investors on India. SGX Nifty, a derivative of Nifty, traded at a premium of around 137 points to Nifty at 8:20 am IST.
SGX Nifty, which was trading at 18073 against Nifty near 17936.35 gives an indication on the direction of Nifty as it opens before Indian market close and continues trading after Indian markets close, totaling 15 hours Allows foreign investors from America and Europe to trade for. Take a look at Nifty via derivatives traded on Singapore’s SGX.
The CPI for August was higher than the consensus estimate at 7% (6.9% forecast), while the IIP for July rose by only 2.4% against Bank of Baroda’s 5.4% estimate.
The lower-than-expected performance has given rise to expectations among Indian stock market analysts that Nifty may recover tomorrow. However, the FII bought a provisional 2050 crore shares and 929 Crore Index Futures- Nifty and Bank Nifty.
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