SGX Nifty hints at slightly higher opening

22 Mar 2022 , 08:21 AM

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 13 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mostly higher on Tuesday, shrugging off tepid overnight cues from Wall Street as Federal Reserve Chair Jerome Powell sounded a hawkish note on monetary policy.

US stocks declined broadly on Monday after Federal Reserve Chair Jerome Powell sounded alarms on surging inflation and vowed tough action.

Powell on Monday said ?inflation is much too high? and pledged to take ?necessary steps? to bring prices under control. He noted rate hikes could go from the traditional quarter-percentage-point moves to more aggressive half-basis-point increases if necessary.

Domestic markets:

Back home, the domestic equity barometers ended near the days low with modest losses on Monday. The barometer index, the S&P BSE Sensex, fell 571.44 points or 0.99% to 57,292.49. The Nifty 50 index lost 169.45 points or 0.98% to 17,117.60.

Foreign portfolio investors (FPIs) sold shares worth Rs 2,962.12 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 252.91 crore in the Indian equity market on 21 March, provisional data showed.

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