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Indices may open in negative zone

Published on Jul 25, 2022 08:24

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 38 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Monday ahead of an important week in the U.S.

US stocks ended lower on Friday as disappointing earnings from Snap spooked investors and shares in social media and ad-tech firms dropped, offsetting gains from card issuer American Express following an upbeat forecast.

Later this week, all eyes will be on the Fed rate decision and the release of second quarter gross domestic product data in the U.S. The US Federal Reserve will opt for another 75 basis point rate hike rather than a larger move at its meeting next week to quell stubbornly-high inflation, as per reports.

Over the weekend, the World Health Organization declared monkeypox a global health emergency. The organization`s emergency committee was unable to reach a consensus, but WHO chief Tedros Adhanom Ghebreyesus made the decision to issue the highest alert, though he said it is unlikely to disrupt global trade or travel at the moment.

Domestic markets:

Back home, the domestic equity benchmarks ended near the day`s high after a strong session on Friday. Positive global cues and a reversal in foreign fund selling in the Indian market supported the sentiment. The barometer index, the S&P BSE Sensex, advanced 390.28 points or 0.70% to 56,072.23. The Nifty 50 index gained 114.20 points or 0.69% to 16,719.45.

Foreign portfolio investors (FPIs) sold shares worth Rs 675.45 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 739.38 crore in the Indian equity market on 22 July, provisional data showed.

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