Indices may open lower
24-Mar-23   08:43 Hrs IST

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 26 points at the opening bell.

Global markets:

Overseas, Asian stocks are mostly trading lower on Friday, as investors weigh remarks from U.S. Treasury Secretary Janet Yellen, who said federal emergency actions to back up failed regional banks could be used again if necessary.

Japan's core inflation reading fell from its January peak of 4.2% to 3.1% year-on-year in February, government data showed Friday. Overall, nationwide inflation was at 3.3% for the month compared to a year ago, also lower than the January print of 4.3%.

Wall Street closed higher on Thursday as market participants were reassured by US Treasury Secretary Janet Yellen's reassurances that measures will be taken to keep Americans' deposits safe.

The Bank of England raised interest rates by a further quarter of a percentage point on Thursday and said it expects the surge in British inflation to cool faster than before. The BoE's nine rate-setters voted 7-2 in favour of a 25 basis-point increase in Bank Rate to 4.25%.

Domestic markets:

Back home, domestic shares snapped a two-day streak on Thursday, amid negative global cues. The barometer index, the S&P BSE Sensex declined 289.31 points or 0.50% to 57,925.28. The Nifty 50 index lost 75 points or 0.44% to 17,076.90.

Foreign portfolio investors (FPIs) sold shares worth Rs 995.01 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,668.85 crore in the Indian equity market on 23 March, provisional data showed.

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