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Stocks may see weak opening

Published on Oct 13, 2022 08:42

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 73 points at the opening bell.

On the macro front, the retail inflation, measured by the Consumer Price Index (CPI), spiked to 7.41% in September. Separately, the factory output, measured in terms of the Index of Industrial Production (IIP), contracted by 0.8% in August.

Global markets:

Overseas, Asian stocks are trading mixed on Thursday as investors await inflation data from the U.S. due later stateside.

US stocks ended a choppy session slightly lower on Wednesday after minutes from the last Federal Reserve meeting showed policymakers agreed they needed to maintain a more restrictive policy stance.

The Federal Reserve`s September meeting minutes, released Wednesday, show that the central bank expects to continue increasing interest rates and hold them higher until inflation shows signs of abating.

Domestic markets:

Back home, domestic equity benchmarks snapped a three-day losing streak and ended with decent gains on Wednesday, shrugging mixed global cues. The S&P BSE Sensex, was up 478.59 points or 0.84% to 57,625.91. The Nifty 50 index added 140.05 points or 0.82% to 17,123.60.

Foreign portfolio investors (FPIs) sold shares worth Rs 542.36 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 85.32 crore in the Indian equity market on 12 October, provisional data showed.

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