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Indices poised for soft start

Published on Jun 06, 2023 08:33

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 22 points at the opening bell.

The three-day meeting of the Monetary Policy Committee of the Reserve Bank of India (RBI) begins today. The MPC decision will be announced by RBI Governor Shaktikanta Das on the last day of the meeting, which is Thursday, 8 June 2023.

Global markets:

Overseas, Asian stocks are trading mixed Tuesday as a rally in global stocks paused and US equities pulled back short of entering a bull market. South Korea`s markets are closed Tuesday for a holiday.

US stocks fell on Monday as investors weighed whether the US central bank might pause rate hikes after growth slowed in the services sector.

Domestic markets:

Back home, domestic equity benchmarks closed higher for the second consecutive session on Monday, with the Nifty 50 index settling near the 18,600 level. The barometer index, the S&P BSE Sensex advanced 240.36 points or 0.38% to 62,787.47. The Nifty 50 index gained 59.75 points or 0.32% to 18,593.85.

Foreign portfolio investors (FPIs) sold shares worth Rs 700.98 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,195.98 crore in the Indian equity market on 5 June, provisional data showed.

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