Market may open higher

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 59 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Friday as Wall Street's major indexes gained after the US economy grew more than expected.

Wall Street ended a choppy session higher on Thursday as investors grappled with an onslaught of economic data and a string of mixed corporate earnings.

The US economy grew faster than expected in the fourth quarter. Gross domestic product increased at a 2.9% annualized rate last quarter. The economy grew at a 3.2% pace in the third quarter.

Domestic markets:

Back home, the domestic equity barometers ended with deep cuts on Wednesday. The barometer index, the S&P BSE Sensex tumbled 773.69 points or 1.27% to 60,205.06. The Nifty 50 index lost 226.35 points or 1.25% to 17,891.95. The domestic equity market remained closed on Thursday (26 January 2023) on account of the Republic Day.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,393.94 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,378.49 crore in the Indian equity market on 25 January, provisional data showed.

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