SGX Nifty indicates weak opening

17 Nov 2022 , 08:08 AM

SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 71 points at the opening bell. Global markets: Overseas, most Asian stocks are trading lower as investors tried to assess the outlook for Federal Reserve policy following stronger-than-expected retail sales data. US stocks fell on Wednesday after stronger-than-expected U.S. retail sales clouded the inflation outlook and hopes that the Federal Reserve could ease its aggressive interest rate hikes. Retail sales jumped 1.3% in October to $694.5 billion, led by higher gas prices and auto sales. Sales were up 0.9% when excluding gas and auto sales. The data showed the ongoing resilience of the consumer despite elevated inflation and higher interest rates. Republicans will take majority control of the House, as per reports, ousting Democrats from key positions of power and complicating President Joe Bidens legislative hopes for the remainder of his term. Domestic markets: Back home, the Indian equity benchmarks bounced off early lows and settled higher on Wednesday. The barometer index, the S&P BSE Sensex, advanced 107.73 points or 0.17% to 61,980.72, its record closing high. The Nifty 50 index added 6.25 points or 0.03% to 18,409.65. Foreign portfolio investors (FPIs) sold shares worth Rs 386.06 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,437.40 crore in the Indian equity market on 16 November, provisional data showed. Powered by Capital Market – Live News