SGX Nifty hints at positive open
Published on Jul 06, 2022 08:13
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 33 points at the opening bell.
The US Dow Jones index futures were down 47 points, indicating a flat to negative opening in the US stocks today.
Asian shares dropped on Wednesday despite Wall Street recovering most of its losses by the close.
In central bank news, Bank Negara Malaysia is expected to release its monetary policy statement today.
US stock indices initially fell sharply on Tuesday before rallying in the afternoon. Concerns about a possible recession in the US weighed on investor sentiment but lower interest rates appeared to boost the tech sector.
The Nasdaq Composite ended the session 1.75% higher at 11,322.24, while the S&P 500 was up 0.16% at 3,831.39. The Dow Jones Industrial Average, however, shed 129.44 points, or 0.4%.
New orders for US-manufactured goods increased more than expected in May. The Commerce Department said on Tuesday that factory orders rose 1.6% in May after advancing 0.7% in April.
Crude oil futures rose after plunging overnight. In the commodities market, Brent crude for September 2022 settlement was up $1.25 or 1.22% at $104.02 a barrel. The contract slumped 7.94% on Tuesday to settle at $102.77 a barrel.
Domestic Equity Market:
The key equity benchmarks ended with minor cuts on Tuesday amid high volatility. The barometer index, the S&P BSE Sensex, slipped 100.42 points or 0.19% to 53,134.35. The Nifty 50 index lost 24.50 points or 0.15% to 15,810.85.
Foreign portfolio investors (FPIs) purchased shares worth Rs 1,295.84 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 257.59 crore in the Indian equity market on 5 July 2022, provisional data showed.
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