SGX Nifty indicates weak opening

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 66 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Wednesday after the release of U.S. inflation data that came in hotter-than-expected.

Wall Street stocks ended mixed on Tuesday after US consumer price data for January offered little to change expectations about the Federal Reserve's path forward on interest rate hikes.

Inflation in the US continued to surge in January, with the latest data showing higher-than-expected increases both year-on-year and month-on-month. The US Bureau of Labor Statistics reported on Friday that the Consumer Price Index (CPI) rose by 6.4% from January 2022.

Domestic markets:

Back home, the domestic equity benchmarks ended with robust gains on Tuesday. The barometer index, the S&P BSE Sensex jumped 600.42 points or 0.99% to 61,032.26. The Nifty 50 index advanced 158.95 points or 0.89% to 17,929.85.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,305.30 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 204.79 crore in the Indian equity market on 14 April, provisional data showed.

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