Stocks may see soft opening

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 8 points at the opening bell.

Global markets:

Overseas, Japan�s Nikkei hit fresh 34-year highs on Friday, while most Asia-Pacific markets were either fully or partially closed for Lunar New Year holidays. China, South Korea and Taiwan�s markets will be shut, while Singapore and Hong Kong will see a half day of trading.

U.S. stocks ticked higher Thursday to set more records as further evidence piled up to show the job market remains remarkably solid. During the day, the S&P 500 briefly topped the 5,000 level for the first time.

Domestic markets:

Back home, the domestic equity market experienced deep losses on Thursday, ending a two-day gaining streak. The S&P BSE Sensex tumbled 723.57 points or 1% to 71,428.43. The Nifty 50 index declined 212.55 points or 0.97% to 21,717.95.

Foreign portfolio investors (FPIs) sold shares worth Rs 4,933.78 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 5,512.32 crore in the Indian equity market on 8 February, provisional data showed.

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