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Weak opening on the cards

Published on Jul 19, 2022 08:24

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 128 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed Tuesday after a positive start to the week, and as investors digested Australia`s central bank`s meeting minutes.

The Reserve Bank of Australia released its meeting minutes on Tuesday, which showed that the board saw current rates as being "well below" the neutral rate, suggesting that further increases will be needed to return inflation to the target over time. The RBA raised rates by 50 basis points earlier this month.

Wall Street ended lower on Monday after bank stocks erased earlier gains and Apple shares fell on a report saying the company plans to slow hiring and spending growth next year.

Domestic markets:

Back home, the frontline indices ended near the day`s high with robust gains on Monday, tracking positive global cues. The benchmark S&P BSE Sensex, gained 760.37 points or 1.41% to 54,521.15. The Nifty 50 index added 229.30 points or 1.43% to 16,278.50.

Foreign portfolio investors (FPIs) bought shares worth Rs 156.08 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 844.33 crore in the Indian equity market on 18 July, provisional data showed.

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