The Indian equity benchmark is likely to open on a flat to positive note on Wednesday as indicated by the SGX Nifty index. The Nifty futures advanced 0.33 per cent at 16,167 on the Singapore exchange.
On Tuesday, after early gains, the Sensex slipped 236 points or 0.43 per cent to settle at 54,052 points, whereas the Nifty 50 Index dropped 89.55 points or 0.55 per cent to end at 16,125.
In Asia, major indices were trading higher on Wednesday. The MSCI index of Asia-Pacific shares surged 0.30 per cent. The Hang Seng index was up 0.45 per cent, whereas South Korea’s KOSPI advanced 0.75 per cent.
In the US, the S&P 500 index slipped 32.27 points or 0.8 per cent to 3,941.48, owing to a slump in stocks of several big-weighted technology companies after Snapchat’s stark profit spooked investors. The Dow Jones Industrial Average soared 48.38 points or 0.2 per cent to 31,928, whereas the Nasdaq fell 270 points or 2.3 per cent to 11,264.
Stocks To Watch
BPCL, Coal India, Apollo Hospitals, InterGlobe aviation, Apollo Hospitals and Grasim industries.
FII and DII
The foreign institutional investors (FII) remained the net sellers on Tuesday worth Rs 2,393 crore, whereas the domestic institutional investors (DII) were the net buyers worth Rs 1,948 crore.
Boosted by the upcoming summer driving season in the US and tight supply chains, oil prices soared higher in early trade on Wednesday. The Brent Crude oil benchmark rose 46 cents or 0.4 per cent to $114.02 per barrel, whereas the West Texas Intermediate (WTI) crude futures surged 58 cents or 0.5 per cent to $110.35 per barrel.
The gold prices in the international market were at a two-week high on Wednesday. Spot gold was steady at $1,865.39 per ounce, whereas US Gold futures was steady at $1,864.
On Tuesday, the Rupee slipped by two paise to close at 77.57 against the US dollars.