The Indian equities benchmark is likely to open on a negative note on Thursday, as indicated by the Nifty Futures trading at Singapore Exchange. The SGX index was trading 51.5 points or 0.32 per cent lower at 16,297.
On Wednesday, after making initial gains the BSE Sensex slipped over 200 points, whereas Nifty 50 plunged below 16,350.
The Indian equities benchmark is likely to open on a negative note on Thursday, as indicated by the Nifty Futures trading at Singapore Exchange. The SGX index was trading 51.5 points or 0.32 per cent lower at 16,297.
On Wednesday, after making initial gains the BSE Sensex slipped over 200 points, whereas Nifty 50 plunged below 16,350 even as the Reserve Bank of India’s Monetary Policy Committee hiked the key repo rate by 50 basis points at 4.9 per cent to tame inflation.
The major indices in the US were trading lower on Wednesday led by banking and industrial stocks as the fear of inflation gripped investors’ sentiments. The S&P 500 declined 44.91 points or 1.1 per cent to 4,115, whereas the Dow Jones Industrial Average plunged 269 points or 0.8 per cent to 32,910. The Nasdaq Composite index was trading 88.96 points or 0.7 per cent lower at 12,086.
The major indices in Asia were trading lower on Thursday following the overnight decline of US stocks. The MSCI broader index of Asia Pacific plunged 0.56 per cent. The Hang Seng index plunged 0.06 per cent, whereas South Korea’s KOSPI slipped 0.63 per cent. While Shanghai Composite declined 0.19 per cent, the Shenzhen Component slipped 0.61 per cent. However, Japan’s Nikkei 225 advanced 0.20 per cent.
The foreign institutional investors (FII) remained the net sellers worth Rs 2,484 crore whereas the domestic institutional investors (DII) remained the net buyers worth Rs 1,904 crore on Wednesday, according to the data on NSE.
Wipro, Vedanta, Indian Oil Corporation, Yes Bank Tata Power, and Rail Vikas Nigam
The crude oil prices surged to a 13-week high in the early hours on Thursday owing to the surge in consumption demand by the US as well as China easing Covid-19 curbs. The Brent crude futures for August surged 12 cents to $123.70, whereas the US West Texas Intermediate crude for July advanced 6 cents to $122 per barrel by 0033 GMT.
The Indian Rupee advanced 10 paise to settle at 77.68 against the US Dollars.