SGX Nifty signals a gap down opening
China's consumer inflation for October rose 1.5% from last year. The producer price index for October surged 13.5% from last year.
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 115 points at the opening bell. Overseas, Asian stocks are trading mixed on Wednesday trade as investors reacted to the release of Chinese inflation data for October. China’s consumer inflation for October came in roughly in line with expectations, according to official data released Wednesday. The consumer price index for October rose 1.5% from last year. Producer prices, however, rose more than expected. The producer price index for October surged 13.5% from last year.
Wall Street closed lower on Tuesday as profit-taking and worries over ongoing inflation fueled a broad sell-off.
U.S. inflation data for October is also set to be released later Wednesday stateside.
Domestic markets
Back home, the equity benchmarks settled with minor losses on Tuesday. The S&P BSE Sensex fell 112.16 points or 0.19% to 60,433.45. The Nifty 50 index declined 24.30 points or 0.13% to 18,044.25.
Foreign portfolio investors (FPIs) sold shares worth Rs 2,445.25 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,417.63 crore in the Indian equity market on 9 November, provisional data showed.