Stocks set to open lower, F&O expiry may trigger volatility

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 72 points at the opening bell.

Trading could be volatile as traders roll over positions in the F&O segment from the near month December series to January series. The December 2022 F&O contracts will expire today, 29 December 2022.

Global markets:

Overseas, Asian stocks are trading lower, taking the lead from Wall Street's losses overnight as investors looked to the year ahead.

US stocks ended weaker on Wednesday, as investors grappled with mixed economic data, rising COVID cases in China, and geopolitical tensions heading into 2023.

The U.S. government announced it will require airline passengers arriving from China, Hong Kong and Macau to show a negative Covid test starting January 5 regardless of nationality of vaccination status.

Domestic markets:

Back home, the benchmark equity indices settled with minor losses after a lackluster trading session on Wednesday. The barometer index, the S&P BSE Sensex slipped 17.15 points or 0.03% to 60,910.28. The Nifty 50 index lost 9.80 points or 0.05% to 18,122.50.

Foreign portfolio investors (FPIs) sold shares worth Rs 872.59 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 372.87 crore in the Indian equity market on 28 December, provisional data showed.

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