Market Commentary - Pre-Session
Indices may slide in early trade As on : 20-Jun-23  08:33

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 68 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed amid lack of overnight cues from Wall Street.

The People's Bank of China cut key policy rate on Tuesday for the first time in 10 months. The Chinese central bank slashed its one-year and five-year loan prime rate by 10 basis points each to 3.55% and 4.20% respectively.

U.S. markets were closed on Monday for the Juneteenth holiday.

US President Joe Biden hailed what he said was progress in restoring US-China ties after Secretary of State Antony Blinken wrapped up two days of meetings in Beijing, including talks with Chinese President Xi Jinping. President Xi Jinping pronounced the progress very good.

Domestic markets:

Back home, the equity barometers ended with moderate losses on Monday. Weak global cues triggered profit selling after a strong rally last week. The barometer index, the S&P BSE Sensex slipped 216.28 points or 0.34% to 63,168.30. The Nifty 50 index declined 70.55 points or 0.37% to 18,755.45.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,030.90 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 365.20 crore in the Indian equity market on 19 June, provisional data showed.

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