SGX Nifty indicates weak opening

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 150 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Thursday as Wall Street ended lower amid Treasury yields at multiyear highs and strong inflation that's driving hawkish monetary policy.

Wall Street closed lower on Wednesday as gloomy data and downbeat corporate outlooks tossed cold water on investor risk appetite.

Minneapolis Federal Reserve President Neel Kashkari said Wednesday he sees no signs that inflation is slowing, so the central bank will need to keep raising interest rates.

Domestic markets:

Back home, domestic equity benchmarks ended with steady gains on Wednesday, rising for the fourth straight session. Healthy Q2 earnings and softer crude oil prices supported buying. The barometer index, the S&P BSE Sensex, rose 146.59 points or 0.25% to 59,107.19. The Nifty 50 index gained 25.30 points or 0.14% to 17,512.25.

Foreign portfolio investors (FPIs) sold shares worth Rs 453.91 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 908.42 crore in the Indian equity market on 19 October, provisional data showed.

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