SGX Nifty indicates weak opening for Sensex, Nifty

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slump 192 points at the opening bell. A WHO official reportedly said Monday it is reclassifying the highly contagious triple-mutant Covid variant spreading in India as a “variant of concern” at the global level.

Global markets:
Overseas, Asian stocks are trading lower on Tuesday, following a sell-off in tech stocks that weighed down major U.S. indexes overnight.

Technology shares led the broader market lower on Monday as investors dumped high-flying Big Tech stocks, pushing the Dow Jones Industrial Average and the S&P 500 off their record highs.

Domestic markets:
Back home, the market started the week on a firm note on the back of positive Asian cues. The S&P BSE Sensex, rose 295.94 points or 0.60% to 49,502.41. The Nifty 50 index rallied 119.20 points or 0.80% at 14,942.35.

Foreign portfolio investors (FPIs) bought shares worth Rs 583.69 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 476.26 crore in the Indian equity market on 10 May, provisional data showed.

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