Market Commentary - Pre-Session
Weak opening on the cards As on : 17-Feb-23  08:39

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 99 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Friday as investors digested more economic data out of the U.S. and more hawkish commentary from the Federal Reserve.

Reserve Bank of Australia governor Philip Lowe reiterated warnings of inflation risks and hinted at further hikes ahead.

Wall Street ended sharply lower on Thursday after unexpectedly strong inflation data and a drop in weekly jobless claims added to fears that the US Federal Reserve will keep raising interest rates to tame high prices.

Domestic markets:

Back home, the key equity indices ended with small gains on Thursday, rising for the third straight session. The barometer index, the S&P BSE Sensex gained 44.42 points or 0.07% to 61,319.51. The Nifty 50 index added 20 points or 0.11% to 18,035.85. Both the indices advanced 1.5% in three sessions.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,570.62 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,577.27 crore in the Indian equity market on 16 February, provisional data showed.

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