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Nifty Seen Opening Marginally Lower As Indicated by SGX Nifty

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Nifty Seen Opening Marginally Lower As Indicated by SGX Nifty

Overnight, the S&P 500 ended a languid session slightly in the red on Monday.

Indian equity benchmarks are set to open marginally lower as indicated by the Nifty futures traded on Singapore Exchange. Singapore Nifty Futures contracts also known as the SGX Nifty Futures declined 22 points or 0.14 per cent to 15,758. Meanwhile, other Asian markets opened higher on Tuesday cruising in the slipstream of a record high overnight gauge of global equity markets, with investors hoping for inflation and monetary policy clues later in a week full of key central bank meetings and data points.

Australia’s S&P/ASX 200 was up 0.32 per cent at 7:00 am, while Japan’s Nikkei 225 edged up 0.35 per cent, as the country revised first-quarter data showing the economy shrank at a slower pace than initially reported.

MSCI’s gauge of Asia Pacific stocks outside Japan rose 0.11 per cent, following the path taken by its All-Country World Index, which advance 0.1 per cent on Monday, hitting its sixth record close in seven days.

Overnight, the S&P 500 ended a languid session slightly in the red on Monday, with investors standing by on news of a global minimum corporate tax rate, lingering inflation fears, and a lack of market-moving economic news.

The Dow closed well within negative territory, while the Nasdaq advanced. Still, the S&P and the Dow remained inside one percentage point of their record closing highs.

Back home, foreign institutional investors sold shares worth Rs 186 crore on Monday while domestic institutional investors bought shares worth Rs 983.97 crore.

Infosys will be in focus after it said that it will collaborate with Archrock, the leading provider of natural gas compression services in the US, to integrate digital technologies and mobile tools for its field service technicians.

Jindal Steel & Power’s production in April-May increased by 31 per cent to 13.71 lakh tonnes (April 6.81 lakh tonnes and May 6.90 lakh tonnes) compared to 10.44 lakh tonnes in the same period last year.

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