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Shares may slide at opening bell

Published on Jun 07, 2022 08:14

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 106 points at the opening bell.

Global Markets:

The US Dow Jones index futures were down 162 points, indicating a negative opening in the US stocks today.

Asian shares were mixed on Tuesday, with the yen hitting a 20-year low, as investors nervously awaited U.S. inflation figures.

The US 10-year Treasury yield was up 0.31% to 3.047% in the Asia session.

In Europe, British Prime Minister Boris Johnson survived a no-confidence vote among his Conservative Party`s lawmakers on Monday.

US markets closed slightly higher on Monday led by gains in Amazon and other mega-cap growth shares, while persistent worries over inflation and interest rates kept a lid on the market. The Dow Jones Industrial Average rose 16.08 points, or 0.05%, to 32,915.78, the S&P 500 gained 12.89 points, or 0.31%, to 4,121.43 and the Nasdaq Composite added 48.64 points, or 0.4%, to 12,061.37.

In the commodities market, Brent crude for August 2022 settlement was up 88 cents or 0.74% at $120.39 a barrel. Oil prices inched higher on expected demand recovery in China as it relaxed tough Covid curbs.

Domestic Equity Market:

The domestic equity benchmarks ended with small losses on Monday. Investors were cautious ahead of Reserve Bank of India (RBI)`s policy announcement later this week. The barometer index, S&P BSE Sensex was down 93.91 points or 0.17% to 55,675.32. The Nifty 50 index fell 14.75 points or 0.09% to 16,569.55.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,397.65 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,940 crore in the Indian equity market on 6 June 2022, provisional data showed.

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