The Indian equity benchmarks are likely to witness a positive start as indicated by the Nifty Future on Singapore Exchange. The SGX index was up 77 points or 0.48 per cent at 16,099.
On Wednesday, the Indian equity benchmarks continued their losing streak for the third day. While the BSE Sensex slipped 303 points or 0.56 per cent lower to close at 53,749, the Nifty declined 99.35 points or 0.62 per cent to end at 16,025.
The major indices in the US soared after the US Federal Reserve indicated that it intends to move “expeditiously” to raise interest rates back to more neutral level in order to tame inflation. The S&P 500 rose 37.25 points or 0.9 per cent to 3,978. The Dow Jones Industrial Average surged 191.66 points or 0.6 per cent to 32,120. The Nasdaq surged 170.29 points or 1.5 per cent to 11,434.
In Asia, after initial gains, major indices edged lower. South Korea’s KOSPI climbed 0.26 per cent to 2,625. The MSCI's broadest index of Asia-Pacific outside Japan was down 0.11 per cent. While the Hang Seng index was down 0.98 per cent, Japan’s Nikkei slipped 0.11 per cent to 26,650. The Shanghai Composite was down 0.22 per cent at 3,099.
FII and DII
On Wednesday, the foreign institutional investors (FII) remained the net sellers worth Rs 1,803 crore, whereas the domestic institutional investors (DII) were the net buyers worth Rs 2,229 crore.
Stocks To Watch
Coal India, InterGlobe Aviation, Hindalco, NHPC, and Infosys.
Amidst the supply chain crunch, the oil prices edged higher for the fourth time this week on Thursday. Brent crude futures was up 7 cents or 0.1 per cent at $114.10 per barrel. The US West Texas Intermediate (WTI) crude futures for July delivery was up 22 cents or 0.2 per cent at $110 per barrel.
Rupee recovered 2 paise to settle at 77.55 against US Dollars.