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Market may open slightly lower

Published on Feb 18, 2022 08:26

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 14 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Friday after an exchange of fire in eastern Ukraine and renewed U.S. warnings of an imminent Russian invasion had investors looking for safety ahead of the weekend.

US stocks slumped Thursday amid heightened tensions between Russia and Ukraine with confused investors dumping risky assets and rotating into bonds.

Russian-backed rebels and Kyiv`s forces reportedly traded accusations that each had fired across a ceasefire line on Thursday and U.S. president Joe Biden said his sense was that a Russian invasion "will happen in the next several days."

The number of Americans filing new claims for jobless benefits unexpectedly rose last week. Initial claims for state unemployment benefits increased 23,000 to a seasonally adjusted 248,000 for the week ended February 12.

Domestic markets:

Back home, the benchmark indices ended with small cuts on Thursday, amid mixed global cues. The S&P BSE Sensex, fell 104.67 points or 0.18% at 57,892.01. The Nifty 50 index slipped 17.60 points or 0.1% at 17,304.60.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,242.10 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 901.10 crore in the Indian equity market on 17 February, provisional data showed.

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