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Indices may tumble in early trade

Published on Apr 27, 2022 08:23

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slump 205 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed in Wednesday after overnight losses saw the tech-heavy Nasdaq Composite sliding to a fresh low for 2022. China`s industrial profits rose 8.5% year-on-year in the January-March period, official data showed Wednesday.

U.S. stocks fell sharply on Tuesday with shares selling off into the close, as investors dumped equities on fears of an economic slowdown.

Worries about the global economy loomed. Investors are worried about a Covid surge in China. Regarding the war in Ukraine, a top Russian official said the threat of nuclear war is real. Plus, high inflation in the U.S. is denting demand for goods from houses to sneakers.

Domestic markets:

Back home, the benchmark indices ended with strong gains on Tuesday, snapping a two-day losing streak. The barometer index, S&P BSE Sensex surged 776.72 points or 1.37% at 57,356.61. The Nifty 50 index jumped 246.85 points or 1.46% at 17,200.80.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,174.05 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,643.84 crore in the Indian equity market on 26 April, provisional data showed.

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