SGX hints at flat opening
Published on Aug 12, 2022 08:21
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 6 points at the opening bell.
Overseas, Asian stocks are mostly trading lower on Friday following strong gains in the previous session as investors digested the U.S. inflation report.
US stocks struggled for direction on Thursday before closing mixed. The Dow Jones Industrial Average rose 27.16 points, or 0.08%, to 33,336.67, while the S&P 500 slid 2.97 points, or 0.07%, to 4,207.27 and the Nasdaq Composite dropped 74.89 points, or 0.58%, to 12,779.91.
US producer prices unexpectedly fell in July amid a drop in the cost for energy products. The producer price index for final demand declined 0.5% last month, the first negative monthly reading since April 2020, the Labor Department said on Thursday. The PPI climbed 1.0% in June. In the 12 months through July, it increased 9.8% after advancing 11.3% in June.
Back home, the benchmark indices closed with strong gains on Thursday. Shares got a boost after a softer-than-expected US inflation numbers eased fears of aggressive rate hikes by the US central bank. The S&P BSE Sensex, rose 515.31 points or 0.88% to 59,332.60. The Nifty 50 index gained 124.25 points or 0.71% to 17,659.
Foreign portfolio investors (FPIs) bought shares worth Rs 2,298.08 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 729.56 crore in the Indian equity market on 11 August, provisional data showed.
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