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Market may open slightly lower

Published on May 11, 2022 08:29

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 13 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Wednesday as investors watched for market reaction to the release of higher-than-expected Chinese inflation data for April. The producer price index (PPI) rose 8% year-on-year, the National Bureau of Statistics (NBS) said in a statement on Wednesday, following an 8.3% rise in March. Consumer inflation also rose more than expected. The consumer price index (CPI) gained 2.1% from a year earlier, the fastest pace in five months, speeding up from 1.5% growth in March.

In US, the S&P 500 and Nasdaq ended higher on Tuesday, with big growth shares rising after the previous day`s selloff as Treasury yields tumbled. Bank shares fell along with yields.

Domestic markets:

Back home, the benchmark indices ended with minor cuts on Tuesday, sliding for the third trading session. The barometer index, S&P BSE Sensex fell 105.82 points or 0.19% at 54,364.85. The Nifty 50 index lost 61.80 points or 0.38% at 16,240.05.

Foreign portfolio investors (FPIs) sold shares worth Rs 3,960.59 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,958.40 crore in the Indian equity market on 10 May, provisional data showed.

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