SGX Nifty indicates weak opening

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 117 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Tuesday after a volatile session overnight on Wall Street.

South Korea's economy grew 1.1% in the fourth quarter of 2021 compared to the previous quarter, the Bank of Korea said in a press release on Tuesday. For the full year, the country's GDP expanded by 4% in 2021, the fastest in 11 years, as per reports.

Wall Street bounced back from a steep sell-off late in the session to close higher on Monday, with bargain hunters pushing the indexes into positive territory by closing bell.

Investors are eyeing the Fed's policy meeting, which begins on Tuesday and wraps up Wednesday. Market participants will be looking for any signals on how much the central bank will raise interest rates this year and when it will start.

Geopolitical tensions are in focus, with fears of a Russian invasion of Ukraine growing, as the military buildup at the border shows no sign of dissipating and crisis talks remain at an impasse, as per reports.

Domestic markets:

Back home, the benchmark indices logged substantial losses on Monday as a result of weak global cues. The barometer index, the S&P BSE Sensex, tumbled 1,545.67 points or 2.62% to 57,491.51. The Nifty 50 index slumped 468.05 points or 2.66% to 17,149.10.

Foreign portfolio investors (FPIs) sold shares worth Rs 3,751.58 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 74.88 crore in the Indian equity market on 24 January, provisional data showed.

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