The Indian equity benchmarks are set to open lower as indicated by the Nifty Futures traded on Singapore Exchange ahead of weekly expiry of index futures and option contracts due later in the day. The Nifty Futures on Singapore Exchange also known as SGX Nifty Futures fell 0.6 per cent or 102 points to 17,270.
Asian Markets
Stocks slipped Thursday in Asia following a retreat on Wall Street as crude oil prices rose sharply.
Tokyo, Hong Kong and Shanghai were lower while Sydney edged higher. U.S. futures rose and U.S. benchmark crude oil was trading near $116 per barrel.
After a rally last week, markets have been up and down this week as investors weigh concerns about rising inflation and slower economic growth.
Tokyo’s Nikkei 25 lost 1.1 per cent to 27,727.76. The Hang Seng in Hong Kong slipped 0.3 per cent to 22,087.39. In Seoul, the Kospi declined 0.8 per cent to 2,714.33, while the Shanghai Composite index gave up 0.8 per cent to 3,246.19.
US Markets
Stocks closed lower on Wall Street Wednesday, giving back nearly all of the gains they made a day earlier, as crude oil prices rose sharply again. Technology, health care and financial stocks were among the biggest losers. Retailers and communications companies also lost ground. Energy stocks rose along with crude oil prices.
On Wednesday:
The S&P 500 fell 55.37 points, or 1.2 per cent, to 4,456.24.
The Dow Jones Industrial Average fell 448.96 points, or 1.3 per cent, to 34,358.50.
The Nasdaq fell 186.21 points, or 1.3 per cent, to 13,922.60.
Crude Oil and Gold Price Check
Benchmark U.S. crude oil for May delivery rose $5.66 to $114.93 a barrel Wednesday. Brent crude for May delivery rose $6.12 to $121.60 a barrel.
Wholesale gasoline for April delivery rose 11 cents to $3.44 a gallon. April heating oil rose 25 cents to $4.11 a gallon. April natural gas rose 4 cents $5.23 per 1,000 cubic feet.
Gold for April delivery rose $15.80 to $1,937.30 an ounce. Silver for May delivery rose 29 cents to $25.19 an ounce and May copper rose 8 cents to $4.78 a pound.
Foreign Flows
Foreign institutional investors bought shares worth Rs 481 crore while domestic institutional investors sold shares worth Rs 294 crore on Wednesday.
