SGX Nifty hints at slightly higher opening
Published on Jun 15, 2022 08:26
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 8 points at the opening bell.
Overseas, Asian stocks are trading mixed on Wednesday following overnight losses on Wall Street as the S&P 500 fell deeper into bear market territory.
China`s industrial output climbed 0.7% in May as compared with a year earlier, official data showed Wednesday, rising from the April`s 2.9% decline. Meanwhile, retail sales in May fell 6.7% year-on-year.
U.S. stock indexes had a mixed Tuesday on fears that red-hot inflation will prompt more aggressive rate increases from the Federal Reserve. The S&P 500 tumbled 0.38% to close at 3,735.48. The Dow Jones Industrial Average dropped 151.91 points, or 0.5%, to settle at 30,364.83. The Nasdaq Composite rose 0.18% to finish at 10,828.35.
Recession fears in the US continued to loom large ahead of the US Fed`s policy outcome due on Wednesday. A major foreign brokerage has reportedly forecast a 75-basis point (bp) interest rate hike from the Fed`s June policy meeting on Wednesday. A 75-bp hike would reportedly be the biggest since 1994.
Back home, the key equity indices ended with small losses after a volatile session on Tuesday, extending its losing streak for third consecutive session. The barometer index, the S&P BSE Sensex, declined 153.13 points or 0.29% to 52,693.57. The Nifty 50 index lost 42.30 points or 0.27% to 15,732.10.
Foreign portfolio investors (FPIs) sold shares worth Rs 4,502.25 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,807.60 crore in the Indian equity market on 14 June, provisional data showed.
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