SGX Nifty indicates weak opening
Published on Jul 11, 2022 08:25
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 112 points at the opening bell.
Overseas, Asian stocks are trading lower on Monday as investors braced for a U.S. inflation report that could force another super-sized hike in interest rates, and the start of an earnings season where profits could be under pressure.
Hong Kong`s Hang Seng index fell more than 2% after reports that China has imposed fines on heavyweights Tencent and Alibaba. China imposed fines on several companies, including tech giants Alibaba and Tencent, for not complying with anti-monopoly rules on disclosure of transactions, as per reports.
However, Tokyo stocks are trading higher on Monday after Japan`s ruling bloc secured a strong win in Sunday`s upper house election, held just days after the assassination of former premier Shinzo Abe.
U.S. stocks closed mixed Friday, with the technology-heavy Nasdaq Composite ending higher as the Dow Jones Industrial Average and S&P 500 index slipped, after a stronger-than-expected June jobs report.
The U.S. saw stronger than expected job growth in June, as the economy added 372,000 jobs, according to data released by the Bureau of Labor Statistics on Friday. June`s gains marked a slight deceleration from the downwardly revised 384,000 in May. April`s count was revised down to 368,000. The unemployment rate was 3.6%, unchanged from May and in line with estimates.
Back home, the key equity benchmarks ended with modest gains after a volatile session on Friday. The barometer index, the S&P BSE Sensex, gained 303.38 points or 0.56% to 54,481.84. The Nifty 50 index rose 87.70 points or 0.54% to 16,220.60.
Foreign portfolio investors (FPIs) sold shares worth Rs 109.31 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 34.61 crore in the Indian equity market on 8 July, provisional data showed.
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