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Indices may open on soft note

Published on Aug 18, 2022 08:25

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 27 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Thursday after the latest Wall Street rally cooled overnight.

US stocks closed lower on Wednesday after minutes from the Federal Reserve`s meeting in July suggested policymakers may be less aggressive than previously thought when they raise interest rates in September.

The minutes from the Federal Reserve`s July meeting shows that central bankers plan to continue rate hikes in order to bring down inflation. �With inflation remaining well above the Committee`s objective, participants judged that moving to a restrictive stance of policy was required to meet the Committee`s legislative mandate to promote maximum employment and price stability,� the minutes said.

Domestic markets:

Back home, the domestic equity barometers ended with stellar gains on Wednesday. Softer inflation, declining commodity prices and consistent buying by FIIs supported the uptrend. The barometer index, the S&P BSE Sensex, was up 417.92 points or 0.70% to 60,260.13. The Nifty 50 index added 119 points or 0.67% to 17,944.25.

Foreign portfolio investors (FPIs) bought shares worth Rs 2,347.22 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 510.23 crore in the Indian equity market on 17 August, provisional data showed.

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