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SGX Nifty hints at weak opening

Published on Aug 19, 2022 08:30

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 44 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading on a mixed note on Friday against a muted Wall Street looking to revive its recent market rally.

Japan`s core consumer inflation accelerated in July to its fastest in seven-and-a-half years. The core consumer price index (CPI), which excludes fresh food prices, rose 2.4% in July from a year earlier, matching a median market forecast, government data showed on Friday. That followed a 2.2% gain in June and marked the fastest pace since December 2014, excluding sales tax hike effects.

US stocks ended higher Thursday as an upbeat sales forecast from Cisco Systems helped to lift the technology sector, while data showed the economy remained relatively strong.

Sales of previously occupied US homes slowed for the sixth consecutive month in July. The National Association of Realtors said Thursday that existing home sales fell 5.9% last month from June to a seasonally adjusted annual rate of 4.81 million.

Domestic markets:

Back home, the benchmark indices ended with minor gains after a volatile session on Thursday. The barometer index, the S&P BSE Sensex, added 37.87 points or 0.06% to 60,298. The Nifty 50 index advanced 12.25 points or 0.07% to 17,956.50.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,706.00 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 470.79 crore in the Indian equity market on 18 August, provisional data showed.

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