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Indices may see gap-down opening on weak global cues

Published on Jan 21, 2022 08:23

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 122 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Friday, tracking declines on Wall Street overnight.

Japan`s inflation data released on Friday showed that core consumer prices rose 0.5% in December compared to a year earlier, as fuel and raw material costs increased, as per reports.

US stocks moved lower on Thursday, giving up their sharp gains from earlier in the session, as Wall Street continues to struggle this year in a rising interest rate environment.

Concern that the Federal Reserve will aggressively move to raise rates this year took toll on the market. Investors are anxiously awaiting the U.S. central bank`s policy meeting next week for new details on how it will tackle inflation.

Domestic markets:

Back home, the domestic equity benchmarks ended with deep cuts on Thursday. The barometer index, the S&P BSE Sensex, tumbled 634.20 points or 1.06% to 59,464.62. The Nifty 50 index lost 181.40 points or 1.01% to 17,757.

Foreign portfolio investors (FPIs) sold shares worth Rs 4,679.84 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 769.26 crore in the Indian equity market on 20 January, provisional data showed.

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