Market poised for gap-up opening

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 128 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher as Hong Kong and mainland China resumed quarantine-free travel over the weekend, signaling the end of zero-Covid policy which kept borders effectively closed for nearly three years.

Wall Street's main indices advanced on Friday after December payrolls expanded more than expected even as wage increases slowed and services activity contracted, easing worries about the Federal Reserve's interest rate hiking path.

Domestic markets:

Back home, the key equity indices ended with deep cuts on Friday, extending losses for the third straight session. The barometer index, the S&P BSE Sensex declined 452.90 points or 0.75% to 59,900.37. The Nifty 50 index lost 132.70 points or 0.74% to 17,859.45.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,902.46 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,083.17 crore in the Indian equity market on 6 January, provisional data showed.

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