The Indian equity benchmarks are set to open on lower on Monday as indicated by the Nifty Futures traded on Singapore Exchange amid weak global cues. Nifty Futures on Singapore Exchange also known as SGX Nifty Futures fell 0.8 per cent or 138 points to 17,194.
US Markets
Markets sold off around the world on mounting signs the global economy is weakening just as central banks raise the pressure even more with additional hikes to interest rates.
The Dow Jones Industrial Average closed at its lowest point of the year Friday. The S&P 500 fell 1.7%, close to its 2022 low. Energy prices also closed sharply lower as traders worried about a possible recession. Treasury yields, which affect rates on mortgages and other kinds of loans, held at multiyear highs. U.K. government bond yields snapped higher after that country’s new government announced a sweeping plan of tax cuts.
On Friday:
The S&P 500 fell 64.76 points, or 1.7%, to 3,693.23.
The Dow Jones Industrial Average fell 486.27 points, or 1.6%, to 29,590.41.
The Nasdaq fell 198.88 points, or 1.8%, to 10,867.93.
The Russell 2000 index of smaller companies fell 42.72 points, or 2.5%, to 1,679.59.
Gold and Crude Oil Price Check
Benchmark U.S. crude oil for November delivery fell $4.75 to $78.74 a barrel Friday. Brent crude for November delivery fell $4.31 to $86.15 a barrel.
Wholesale gasoline for October delivery fell 14 cents to $2.38 a gallon. October heating oil fell 17 cents to $3.24 a gallon. October natural gas fell 26 cents to $6.83 per 1,000 cubic feet.
Gold for December delivery fell $25.50 to $1,655.60 an ounce. Silver for December delivery fell 71 cents to $18.91 an ounce and December copper fell 13 cents to $3.34 a pound.
The dollar rose to 143.40 Japanese yen from 142.49 yen. The euro fell to 96.75 cents from 98.31 cents.
Foreign Flows
Foreign institutional investors sold shares worth Rs 2,900 crore on Friday while domestic institutional investors bought shares worth Rs 299 crore.
