SGX Nifty signals negative opening
Published on Jun 06, 2022 08:04
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 61 points at the opening bell.
The US Dow Jones index futures were up 108 points, indicating a mildly positive opening in the US stocks today.
Asian shares were trading higher on Monday. Market in South Korea is shut for a holiday.
China`s Caixin Services Purchasing Managers` Index released Monday came in at 41.4, better than April`s reading of 36.2 but still in contraction territory.
US stocks slid Friday as investors digested a stronger-than-expected jobs report and its implication for monetary policy going forward. The Dow Jones Industrial Average fell 348.58 points, or 1.1%, to 32,899.70. The S&P 500 slipped 1.6% to 4,108.54. The technology-heavy Nasdaq Composite fell nearly 2.5% to 12,012.73.
American employers added 390,000 jobs last month, the government reported Friday. The jobless rate held steady at 3.6% for the third consecutive month.
In the commodities market, Brent crude for August 2022 settlement was up 87 cents or 0.73% at $120.59 a barrel. Oil prices jumped after Saudi Arabia raised prices sharply for its crude sales in July.
Domestic Equity Market:
The domestic equity benchmarks wiped intraday gains and ended with tiny losses on Friday. The market witnessed steep selling in the final hour of the trade. The barometer index, the S&P BSE Sensex, fell 48.88 points or 0.09% to 55,769.23. The Nifty 50 index slipped 43.70 points or 0.26% to 16,584.30.
Foreign portfolio investors (FPIs) sold shares worth Rs 3,770.51 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,360.51 crore in the Indian equity market on 3 June 2022, provisional data showed.
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