MARKET LIVE: SGX Nifty indicates a positive start; SBI Card in focus

LIVE market updates: Tracking the upbeat global mood, the SGX Nifty was trading 0.65 per cent higher at 15,123, indicating a firm start for benchmark indices back home.

The would first react to macroeconomic data viz IIP and CPI inflation, which came in after market hours on Friday. In a double whammy for the economy, industrial production growth re-entered the negative territory by contracting 1.6 per cent in January, while retail inflation soared to a three-month high of 5.03 per cent in February on costlier food items.

Besides, the WPI inflation is scheduled to be released later in the day.

Global cues

Global stock prices were off to a solid start while US bond yields hovered near a 13-month peak on Monday as investors bet US economic growth will accelerate after the passing of a massive stimulus package. U.S. S&P500 futures rose 0.25 per cent in early Asian trade, trading just below a record high level touched last week, while Japan’s Topix index rose 0.7 per cent. Australia’s S&P/ASX 200 Index was flat and Hong Kong’s Hang Seng Index added 0.5 per cent.

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