SGX Nifty hints at slightly higher opening

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 20 points at the opening bell.

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) will meet on 8-10 February 2022. The RBI's MPC will announce its interest rate decision on 10 February 2022.

Global markets:

Overseas, Asian stocks are trading mixed on Tuesday, as investors in the region continue to assess the inflation and central bank policy outlook.

Wall Street ended lower on Monday as traders weighed the latest quarterly earnings reports and awaited key U.S. inflation data. Corporate earnings were again a source of volatility for stocks on Monday.

Big inflation news is on the horizon, with the Labor Department on Thursday set to release consumer price index data for January.

Domestic markets:

Back home, the domestic equity barometers ended with deep cuts after a weak session on Tuesday. The barometer index, the S&P BSE Sensex, dropped 1,023.63 points or 1.75% to 57,621.19. The Nifty 50 index fell 302.70 points or 1.73% to 17,213.60.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,157.23 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,376.49 crore in the Indian equity market on 7 February, provisional data showed.

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