Dismal opening on the cards

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 270 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Monday following a sell-off on Wall Street on Friday. Australia and New Zealand markets are closed on Monday for a holiday.

Wall Street tumbled on Friday as surprise earnings news and increased certainty around aggressive near-term interest rate rises took its toll on investors.

Domestic markets:

Back home, the benchmark indices ended with steep losses on Friday. The barometer index, S&P BSE Sensex slumped 714.53 points or 1.23% at 57,197.15. The Nifty 50 index shed 220.65 points or 1.27% at 17,171.95.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,461.72 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,602.35 crore in the Indian equity market on 22 April, provisional data showed.

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