SGX Nifty indicates gap-down start for Indian indices
Asian stocks were trading lower Wednesday following an overnight dip for the S&P 500 stateside as investors grew concerned over rising bond yields.
SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 72 points at the opening bell.
Global markets: Overseas, Asian stocks were trading lower Wednesday following an overnight dip for the S&P 500 stateside as investors grew concerned over rising bond yields. Markets in mainland China remain closed on Wednesday for the Lunar New Year holidays.
Japan’s exports rose 6.4% in January as compared with a year earlier, according to trade statistics released Wednesday by the country’s Ministry of Finance.
On Wall Street, the Dow hit an all-time high on Tuesday, while the S&P 500 and the Nasdaq retreated slightly from record levels, as investors bet on more fiscal aid to lift the world’s biggest economy from a coronavirus-driven slump.
U.S. President Joe Biden was traveling to Wisconsin on Tuesday to press his case for a $1.9 trillion pandemic relief bill in the political battleground state that helped secure his victory in last year’s presidential election.
Domestic markets: Back home, domestic benchmark indices ended almost flat after a volatile session on Tuesday. The barometer index, the S&P BSE Sensex, declined 49.96 points or 0.10% at 52,104.17. The Nifty 50 index lost 1.25 points or 0.01% at 15,313.45.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,144.09 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,559.53 crore in the Indian equity market on 16 February, provisional data showed.
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