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Indices may open on positive note
15-Jul-22   08:24 Hrs IST

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 77 points at the opening bell.

On the macro front, India's merchandise trade deficit rose to a record $26.1 billion in June 2022. Data released on July 14 showed that while exports in June rose by 23.5% to $40.13 billion, imports shot up by 57.5% to $66.31 billion.

Global markets:

Overseas, Asian stocks hit a two-year low on Friday as a fresh slew of rate hikes around the world deepened worry about the outlook for global economic growth.

China's second-quarter GDP missed expectations. China's GDP grew 0.4% in the second quarter, compared with 4.8% in the first quarter. The second-quarter report is China's weakest GDP print since the first quarter of 2020 when the Covid pandemic first hit.

Wall Street indexes fell after weaker-than-expected earnings from JPMorgan Chase & Co and Morgan Stanley fanned fears of a sharp economic downturn.

Fed Governor Christopher Waller and St. Louis Fed President James Bullard on Thursday said they favored another 75-basis-point interest rate increase at the U.S. central bank's policy meeting this month.

Domestic markets:

Back home, the frontline indices ended with minor cuts on Thursday amid negative global cues. The barometer index, the S&P BSE Sensex, was down 98 points or 0.18% to 53,416.15. The Nifty 50 index fell 28 points or 0.18% to 15,938.65.

Foreign portfolio investors (FPIs) bought shares worth Rs 309.06 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 556.40 crore in the Indian equity market on 14 July, provisional data showed.

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