Sensex, Nifty may open flat with a negative bias
The Bank of Korea raised its policy rate by 25 basis points to 1%, a move that was largely expected.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 15 points at the opening bell. Overseas, Asian stocks are trading mixed on Thursday as investors reacted to the Bank of Korea’s rate decision. The Bank of Korea raised its policy rate by 25 basis points to 1%, a move that was largely expected. U.S. stocks pushed modestly higher on Wednesday as the recent jump in bond yields took a breather, allowing tech stocks to recover.
The minutes from the latest Fed meeting, released on Wednesday, showed that the central bankers were ready to accelerate the timetable for slowing asset purchases and raising the benchmark funds rate if inflation remains high.
U.S. markets will be closed for the Thanksgiving holiday on Thursday. The stock market closes early on Friday.
Domestic markets
Back home, the domestic equities reversed intraday gains and settled with sharp losses on Wednesday, 24 November 2021. The barometer index, the S&P BSE Sensex, dropped 323.34 points or 0.55% at 58,340.99. The Nifty 50 index lost 88.30 points or 0.50% at 17,415.05.
Foreign portfolio investors (FPIs) sold shares worth Rs 5,122.65 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,809.62 crore in the Indian equity market on 24 November, provisional data showed.
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