Market may open on weak note
12-Dec-22   08:43 Hrs IST

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 61 points at the opening bell.

On the macro front, the Industrial Production and Manufacturing Production data for October will be released today, 12 December 2022. Inflation rate for November will also be declared today.

Global markets:

Overseas, Asian stocks are trading lower on Monday as investors looked ahead to a Fed meeting and U.S. inflation data this week.

US stocks fell Friday after wholesale inflation rose more than expected last month, raising concerns that the Federal Reserve will keep rates higher for longer.

The Federal Reserve is set to begin its two-day meeting on Tuesday. Economists widely expect the U.S. central bank to raise rates by half a percentage point Wednesday. The latest reading for the U.S. consumer price index is also slated for Tuesday.

Domestic markets:

Back home, the key equity indices settled lower on Friday, dragged by weakness in IT stocks. The barometer index, the S&P BSE Sensex, declined 389.01 points or 0.62% to 62,181.67. The Nifty 50 index lost 112.75 points or 0.61% to 18,496.60.

Foreign portfolio investors (FPIs) sold shares worth Rs 158.01 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 501.63 crore in the Indian equity market on 9 December, provisional data showed.

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