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SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slump 243 points at the opening bell. On the macro front, the monthly collection under the Goods and Services Tax (GST) has peaked to an all-time high of Rs 1.68 lakh crore in April 2022, according to a statement by the Finance Ministry on 1 May 2022. GST collection in April was Rs 25,000 crore more than the collection in March. India's eight core sectors grew by 4.3% in March, down from 6% in February, the commerce ministry said on 29 April 2022. Global markets: Overseas, Asian stocks are trading were lower on Monday, with data released over the weekend showing Chinese factory activity contracted in April. Markets in Hong Kong, mainland China, Singapore and Taiwan are closed on Monday for a holiday. China's factory activity contracted at a steeper pace in April as Covid lockdowns hit industrial production. The official manufacturing Purchasing Managers' Index for April declined to 47.4, a second straight month of contraction following with March's reading of 49.5, data from the National Bureau of Statistics showed Saturday. A private survey also showed contraction in Chinese factory activity, with the Caixin/Markit manufacturing PMI coming in at 46, declining from the previous month's reading of 48.1. Wall Street slid on Friday to its deepest daily losses since 2020, as Amazon slumped following a gloomy quarterly report, and as the biggest surge in monthly inflation since 2005 spooked investors already worried about rising interest rates. Domestic markets: Back home, domestic equity benchmarks went into a tailspin during fag-end of the trade on Friday, dragged by weakness in Axis Bank, Reliance Industries and Infosys. The S&P BSE Sensex lost 460.19 points or 0.8% at 57,060.87. The Nifty 50 index fell 142.5 points or 0.83% to 17,102.55. Foreign portfolio investors (FPIs) sold shares worth Rs 3,648.30 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,490.30 crore in the Indian equity market on 29 April, provisional data showed. Powered by Capital Market - Live News |