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SGX Nifty indicates weak opening for Indian indices

Published on Apr 18, 2022 08:17

SGX Nifty:

Indian indices may witness a weak opening on Monday as trading resumes after long weekend. The indices are also likely to react to the Q4 numbers reported by heavyweights Infosys and HDFC Bank.

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 70 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Monday, with investors reacting to the release of Chinese economic data, including first-quarter gross domestic product figures.

China has reported gross domestic product of 4.8% in the first quarter of 2022, as against 4% in the fourth quarter. Markets in Australia and Hong Kong are closed on Monday for a holiday.

Wall Street stocks finished lower on Thursday as investors worried about the potential for aggressive US policy tightening as other central banks around the world moved to reduce support.

Domestic markets:

Back home, the domestic equity benchmarks reversed early gains and ended with small losses on Wednesday. Persistent high inflation, rising bond yields and tightening monetary policy globally weighed on investors` sentiment. The S&P BSE Sensex declined 237.44 points or 0.41% to 58,338.93. The Nifty 50 index slipped 54.65 points or 0.31% to 17,475.65.

The market was shut on account of Mahavir Jayanti and Ambedkar Jayanti on April 14 and Good Friday on April 15.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,061.04 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,410.85 crore in the Indian equity market on 13 April, provisional data showed.

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