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SGX Nifty hints at positive opening

Published on Feb 17, 2022 08:18

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 54 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Thursday as investors continue to monitor the situation surrounding Ukraine.

Japan`s January exports came in far below expectations, with official data released Thursday showing a 9.6% year-on-year rise for that month.

Wall Street bounced off session lows Wednesday with the S&P 500 crossing into positive territory by the closing bell as investors surveyed the latest update from the Federal Reserve and the status of Russia`s military build-up near Ukraine.

Federal Reserve officials last month agreed that, with inflation tightening its grip on the economy and employment strong, it was time to raise interest rates, but also that any decisions would depend on a meeting-by-meeting analysis of inflation and other data, according to the minutes of the Jan. 25-26 policy meeting.

"Most participants noted that, if inflation does not move down as they expect, it would be appropriate for the FOMC to remove policy accommodation at a faster pace than they currently anticipate," the minutes stated.

In geopolitical developments, NATO on Wednesday accused Russia of increasing the number of troops it has gathered at the Ukrainian border, a day after Moscow claimed it had begun withdrawing some of its military units.

Domestic markets:

Back home, the benchmark indices ended with minor losses on Wednesday. The S&P BSE Sensex, fell 145.37 points or 0.25% at 57,996.68. The Nifty 50 index slipped 30.25 points or 0.17% at 17,322.20.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,890.96 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,180.14 crore in the Indian equity market on 16 February, provisional data showed.

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