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SGX Nifty indicates positive opening
20-Feb-23   08:19 Hrs IST

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 33.50 points at the opening bell.

Global Markets:

The US Dow Jones index futures were down 22 points, indicating a positive opening in the US stocks today. Monday will be a trading holiday for the U.S., in light of Presidents' Day.

Most Asian shares were trading higher on Monday, as investors look ahead to crucial economic data later in the week. Minutes for the U.S. Federal Open Market Committee (FOMC) is slated to be released Wednesday.

The People's Bank of China left its 1-year and 5-year prime loan rates unchanged, widely in line with expectations.

US stocks ended mixed on Friday. Traders were concerned that the Federal Reserve could lift rates by more than expected amid recent data pointing to a stronger economy and sticky inflation.

During Friday's trade, the Dow Jones Industrial Average added 129.8 points or 0.4% to 33,826.7, the S&P 500 fell 11.3 points or 0.3% to 4,079.1 and the Nasdaq Composite lost 68.6 points or 0.6% to 11,787.3.

Domestic Equity Market:

The key equity barometers ended with modest losses on Friday (17 February), snapping a three day gaining streak. Negative global cues triggered profit selling in domestic shares. Traders are worried about rising inflation, US bond yields and dollar index. The barometer index, the S&P BSE Sensex fell 316.94 points or 0.52% to 61,002.57. The Nifty 50 index lost 91.65 points or 0.51% to 17,944.20. Both the indices advanced 1.5% in the previous three sessions.

Foreign portfolio investors (FPIs) sold shares worth Rs 624.61 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 85.29 crore in the Indian equity market on 17 February 2023, provisional data showed.

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