Sensex, Nifty may open in red; key things to know before opening bell
China has banned financial institutions and payment companies from providing services related to cryptocurrency transactions and warned investors against speculative crypto trading
SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 86 points at the opening bell.
Global markets: Overseas, Asian stocks traded lower on Wednesday, with some markets in the region closed for holidays. Markets in Hong Kong and South Korea are closed on Wednesday for holidays.
Meanwhile, China has banned financial institutions and payment companies from providing services related to cryptocurrency transactions and warned investors against speculative crypto trading.
Under the ban, such institutions, including banks and online payments channels, must not offer clients any service involving cryptocurrencies, such as registration, trading, clearing and settlement.
US stock indices wiped out earlier gains and closed at their session lows on Tuesday as Big Tech stocks reversed lower, while data showing housing starts dropped sharply last month also weighed on sentiment.
Housing starts tumbled 9.5% to a seasonally adjusted annual rate of 1.569 million units last month, the Commerce Department said on Tuesday.
Domestic markets: Back home, the domestic equity barometers ended with strong gains on Tuesday, supported by firmness in autos and private banks. The barometer index, the S&P BSE Sensex, advanced 612.60 points or 1.24% to 50,193.33. The Nifty 50 index added 184.95 points or 1.24% to 15,108.10.
Foreign portfolio investors (FPIs) bought shares worth Rs 618.49 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 449.52 crore in the Indian equity market on 18 May, provisional data showed.
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