Market may open near flat zone

19 Sep 2022 , 08:21 AM

SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 5 points at the opening bell. Global markets: Overseas, Asian stocks are trading mixed on Monday ahead of major central bank meetings this week. Japans market was closed for a holiday Monday. Later this week, the US Federal Reserve and the Bank of Japan will be announcing their interest rate decisions. Traders are anticipating another sharp rate hike, third consecutive, from the US central bank to tame the rising inflation. The Bank of Japan is expected to keep rates on hold at ultra-low levels, as per reports. US stocks ended in the red on Friday, falling to two-month lows as a warning of impending global slowdown from FedEx hastened investors flight to safety at the conclusion of a tumultuous week. Domestic markets: Back home, equity benchmarks tanked on Friday, tracking dismal global cues. Sentiment was marred by growing expectations of hawkish moves by the Federal Reserve and fears of a global recession. The barometer index, the S&P BSE Sensex, slumped 1,093.22 points or 1.82% to 58,840.79. The Nifty 50 index crashed 346.55 points or 1.94% to 17,530.85. Foreign portfolio investors (FPIs) sold shares worth Rs 3,260.05 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 36.57 crore in the Indian equity market on 16 September, provisional data showed. Powered by Capital Market – Live News