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Shares may extend fall amid negative global cues

Published on Jun 02, 2022 08:15

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 72 points at the opening bell.

Global Markets:

The US Dow Jones index futures were up 14 points, indicating a flat to positive opening in the US stocks today.

Asian shares were mixed on Thursday, amid worries over high inflation and the threat of recession.

US stocks started June with declines amid choppy trading. The Dow shed 176.89 points, or 0.54%. The S&P 500 fell 0.75%, and the Nasdaq Composite retreated 0.72%.

The number of April job openings, released Wednesday, declined sharply from the previous month � but the findings suggest the job market remains tight. Further, the Institute for Supply Management said its manufacturing PMI came in at 56.1 for May, up from 55.4 the month before.

In the commodities market, Brent crude for August 2022 settlement was down $2.59 or 2.23% at $113.70 a barrel. The losses came after the media reported Saudi Arabia is ready to pump more oil if Russian output declines.

Domestic Equity Market:

The key equity barometers ended with small losses on Wednesday, declining for the second trading session. A sharp rise in crude oil prices spooked investors. The jump in oil prices threatens to upend India`s fiscal math and economic projections. The barometer index, the S&P BSE Sensex, was down 185.24 points or 0.33% to 55,381.17. The Nifty 50 index fell 61.80 points or 0.37% to 16,522.75.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,930.16 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 984.11 crore in the Indian equity market on 1 June 2022, provisional data showed.

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