Sensex, Nifty are poised for a negative start
Wall Street closed sharply lower on Wednesday as surging consumer prices curbed investor risk appetite.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 51 points at the opening bell. Overseas, Asian stocks are trading mixed on Thursday after data released overnight showed U.S. consumer inflation spiked in October. Wall Street closed sharply lower on Wednesday as surging consumer prices curbed investor risk appetite and stoked worries of a protracted wave of red hot inflation.
Prices for U.S. consumers jumped 6.2% in October compared with a year earlier as surging costs for food, gas and housing left Americans grappling with the highest inflation rate since 1990. The year-over-year increase in the consumer price index exceeded the 5.4% rise in September, the Labor Department reported Wednesday.
Domestic markets
Back home, benchmark indices settled with minor losses on Wednesday. The barometer index, the S&P BSE Sensex, fell 80.63 points or 0.13% to 60,352.82. The Nifty 50 index dropped 27.05 points or 0.15% to 18,017.20.
Foreign portfolio investors (FPIs) sold shares worth Rs 469.50 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 766.95 crore in the Indian equity market on 10 November, provisional data showed.