Partner With Us NRI

Market may open lower

Published on Apr 07, 2022 08:30

SGX Nifty:

Indian indices are likely to open on a weak note on Thursday tracking trends on SGX Nifty. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 100 points at the opening bell.

Investors are awaiting the RBI`s policy decision on Friday amid expectations that the central bank might retain status quo on interest rate.

Global markets:

Overseas, most Asian stocks declined Thursday following two days of declines on Wall Street.

US stock indexes fell for a second day as investors reacted to Fed guidance on tightening monetary policy.

The Fed`s release of its meeting minutes indicated on Wednesday afternoon that officials �generally agreed� it should shrink its balance sheet by $95 billion per month. The minutes also showed central bank officials were considering larger rate hikes than the usual 25-basis-point, or quarter-point, increments.

Domestic markets:

Back home, the benchmark indices ended a volatile session with deep losses on Wednesday. Negative global cues triggered profit selling in large caps. However, small and mid-caps stocks witnessed buying. The S&P BSE Sensex fell 566.09 points or 0.94% at 59,610.59. The Nifty 50 index shed 149.75 points or 0.83% at 17,807.75.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,279.97 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 622.92 crore in the Indian equity market on 6 April, provisional data showed.

Powered by Capital Market - Live News