Market may turn choppy due to F&O expiry

Trading could be volatile today as traders roll over positions in the F&O segment from the near month May series to June series. The May 2022 F&O contracts expire today, 26 May 2022.

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 69 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Thursday after U.S. Federal Reserve meeting minutes showed officials stressing the need to raise interest rates swiftly and potentially more than markets anticipated.

US stocks closed Wednesday`s volatile session higher after Federal Reserve meeting minutes indicated the central bank will stay on track for aggressive interest rate hikes and then take some time to gauge the economy`s response.

U.S. Fed minutes released Wednesday showed officials are prepared to move ahead with several 50 basis point interest rate hikes. The Federal Open Market Committee also said policy may have to move away from �neutral� and into �restrictive� territory.

Domestic markets:

Back home, the domestic equity benchmarks declined sharply on Wednesday, extending losses for the third day. Continuous selling from FIIs, persisting inflation worries and looming fears of sharp interest rates hikes spooked investors. The barometer index, the S&P BSE Sensex, declined 303.35 points or 0.56% to 53,749.26. The Nifty 50 index fell 99.35 points or 0.62% to 16,025.80.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,803.06 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,229.82 crore in the Indian equity market on 25 May, provisional data showed.

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