Flat opening on the cards
Published on Jan 06, 2023 08:19
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 6 points at the opening bell.
Overseas, Asian stocks are trading higher as investors braced for crucial U.S. jobs data later in the day that should provide clues on how aggressive the Federal Reserve will be in tightening policy.
Wall Street`s main indices lost more than 1% on Thursday as evidence of a tight labor market eroded hopes that the Federal Reserve could pause its rating hiking cycle anytime soon as it keeps focused on inflation.
U.S. private payrolls increased more than expected in December. The U.S. ADP private payrolls report showed employers added 235,000 jobs in December. Data for November was unrevised to show 127,000 jobs added.
Back home, the headline equity indices ended with significant cuts on Thursday. The barometer index, the S&P BSE Sensex, was down 304.18 points or 0.50% to 60,353.27. The Nifty 50 index lost 50.80 points or 0.28% to 17,992.15.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,449.45 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 194.09 crore in the Indian equity market on 5 January, provisional data showed.
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