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SGX Nifty signals positive start

Published on Jun 09, 2023 08:20

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 33 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading higher, tracking an overnight rise in US stocks. Investors digested China`s consumer price index, which saw a 0.2% rise in May and its producer prices that fell 4.6% year on year, marking the steepest drop since June 2016.

US stocks closed higher on Thursday, regaining some of their momentum, thanks to a rebound by technology stocks. Investors were sitting on the sidelines ahead of inflation data and a Federal Reserve policy meeting next week.

Domestic markets:

Back home, the domestic stock barometers took a breather on Thursday, ending a four-day winning streak. Traders took profits as the Reserve Bank of India (RBI)`s policy outcome was on expected lines. The barometer index, the S&P BSE Sensex declined 294.32 points or 0.47% to 62,848.64 The Nifty 50 index lost 91.85 points or 0.49% to 18,634.55. In the past four sessions, the Sensex had advanced 1.14% while the Nifty climbed 1.29%.

Foreign portfolio investors (FPIs) bought shares worth Rs 212.40 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 405.01 crore in the Indian equity market on 8 June, provisional data showed.

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