Market may open in negative zone
Published on Jun 30, 2022 08:35
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 23 points at the opening bell.
Trading could be volatile as traders roll over positions in the F&O segment from the near month June series to July series. The June 2022 F&O contracts expire today, 30 June 2022.
On the political front, Maharashtra Chief Minister Uddhav Thackeray on Wednesday, 29 June 2022, tendered his resignation, after the Supreme Court refused to give a stay on the floor-test that was to take place Thursday, 30 June 2022. Addressing the people through social media, Thackeray said he also resigned from Legislative Council of which he is the member.
Overseas, Asian stocks are trading mixed on Thursday as investors weighed signs of gradual improvement in China`s economy and comments from central bank chiefs on tackling persistent price pressures.
In economic news, China`s official manufacturing Purchasing Managers` Index for June was at 50.2.
Stock indexes on Wall Street ended mostly lower in the overnight session after another choppy day of trading.
On Wednesday, Federal Reserve Bank of Cleveland President Loretta Mester said she will advocate for a 75 basis point hike to interest rates at the central bank`s July meeting if economic conditions remain the same by then.
Back home, the domestic equity benchmarks ended with modest losses after a volatile session of trade on Wednesday. The barometer index, the S&P BSE Sensex, was down 150.48 points or 0.28% to 53,026.97. The Nifty 50 index lost 51.10 points or 0.32% to 15,799.10.
Foreign portfolio investors (FPIs) sold shares worth Rs 851.06 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 847.46 crore in the Indian equity market on 29 June, provisional data showed.
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