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Market may open in positive zone

Published on Jun 17, 2022 08:20

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 23 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Friday, following sharp declines on Wall Street as investors weigh the possibility of aggressive monetary policy tightening leading to a recession. The Bank of Japan is set to release its monetary policy statement on Friday. The Bank of Japan is likely to maintain ultra-low interest rates and stress its resolve to support a fragile economy with massive stimulus.

US stock indexes closed sharply lower on Thursday in a broad sell-off as recession fears grew following moves by central banks around the globe to stamp out rising inflation after the Federal Reserve`s largest rate hike since 1994.

Domestic markets:

Back home, the domestic equity benchmarks slumped on Thursday, sliding for the fifth straight session. The barometer index, the S&P BSE Sensex, tumbled 1,045.60 points or 1.99% to 51,495.79. The Nifty 50 index tumbled 331.55 points or 2.11% to 15,360.60.

Foreign portfolio investors (FPIs) sold shares worth Rs 3,257.65 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,929.14 crore in the Indian equity market on 16 June, provisional data showed.

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