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SGX Nifty indicates strong opening

Published on Aug 25, 2022 08:34

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 84 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher on Thursday ahead of the Jackson Hole symposium kicking off stateside. Hong Kong`s morning session was canceled due to the issuance of a typhoon warning. In South Korea, the Bank of Korea raised its benchmark interest rate by 25 basis points to 2.50%.

Wall Street ended higher on Wednesday, lifted by gains in energy stocks and Intuit while investors awaited the US Federal Reserve`s Jackson Hole conference this week.

Investors are awaiting the three-day Jackson Hole economic symposium that starts Thursday with Federal Reserve Chair Jerome Powell slated to speak Friday morning. Fed watchers expect him to reinforce the central bank`s goal of squashing inflation and keeping expectations about future price gains in check.

Domestic markets:

Back home, the key equity benchmarks ended a volatile session with small gains on Wednesday. The barometer index, the S&P BSE Sensex added 54.13 points or 0.09% to 59,085.43. The Nifty 50 index gained 27.45 points or 0.16% to 17,604.95.

Foreign portfolio investors (FPIs) bought shares worth Rs 23.19 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 322.34 crore in the Indian equity market on 24 August, provisional data showed.

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