The Indian equities benchmarks are likely to open on a negative note on Wednesday as indicated by the Nifty Futures on the Singapore Exchange. The SGX Index was trading 20.5 points or 0.12 per cent lower at 16,539
On Tuesday the BSE Sensex fell over 350 points whereas the Nifty 50 index slipped below 16,600.
The major indices in the US traded lower on Tuesday amidst worries of recession, inflation and rising interest rates. TheS&P 500 slipped 26.90 points or 0.6 per cent to 4,132. The Dow Jones Industrial Average dipped 222.84 points or 0.7 per cent to 32,990. The Nasdaq Composite was down 49.74 points or 0.4 per cent to 12,081.
The major indices in Asia were trading lower in early trade on Tuesday amidst weak global cues. The Hang Seng Index slipped 0.22 per cent at 21,373, whereas the Shanghai Composite and South Korea’s KOSPI indices were trading flat. While the Shenzhen component was down 0.35 per cent, Japan’s Nikkei 225 advanced 0.69 per cent.
FII and DII
The foreign institutional investors remained the net sellers worth Rs 1,003 crore, whereas the domestic institutional investors remained the net buyers worth Rs 1,845 crore on Tuesday, according to the data available on NSE.
Stocks To Watch
Bharat Dynamics, Bata India, Rail Vikas Nigam, Quess Corp and HFCL.
The crude oil prices were trading higher in early trade on Wednesday, after the European Union agreed for a 90 per cent ban on Russian oil. The Brent crude oil benchmark for August delivery surged 78 cents to $116.38 per barrel, whereas the US West Texas Intermediate was up 63 cents to $115 per barrel at 0037GMT.
The Rupee declined by 17 paise to close at its all-time low of 77.71 against US Dollar on Tuesday.