SGX Nifty indicates firm opening

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 59 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Tuesday after sharp falls to start the week following Fed Chair Jerome Powell`s hawkish speech in Jackson Hole.

Japan`s jobless rate was unchanged at 2.6% in July, in line with expectations and flat for the third consecutive month, according to official data.

US stocks closed lower on Monday, adding to last week`s sharp losses on nagging concerns about the Federal Reserve`s determination to aggressively hike interest rates to fight inflation even as the economy slows.

Domestic markets:

Back home, the headline equity barometers ended with major cuts on Monday amid weak global cues. The barometer index, the S&P BSE Sensex, was down 861.25 points or 1.46% to 57,972.62. The Nifty 50 index lost 246 points or 1.40% to 17,312.90.

Foreign portfolio investors (FPIs) sold shares worth Rs 561.22 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 144.08 crore in the Indian equity market on 29 August, provisional data showed.

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