News
     

Market may decline in early trade
11-Mar-22   08:31 Hrs IST

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 78 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower on Friday tracking losses on Wall Street as the Russia-Ukraine war continues to keep investors cautious.

Negotiations between Russian and Ukrainian foreign ministers reportedly ended with little progress on matters including a cease-fire or a safe passage for civilians trying to flee the besieged city of Mariupol.

Wall Street resumed its slide on Thursday, ending in the red as inflation hit a four-decade high, cementing expectations that the US Federal Reserve would hike key interest rates at the conclusion of next week's monetary policy meeting to prevent the economy from overheating.

U.S. Treasury Secretary Janet Yellen warned Thursday that America is set for another year of “very uncomfortably high” inflation amid the Russia-Ukraine war.

US consumer prices surged in February, culminating in the largest annual increase in 40 years. The consumer price index increased 0.8% last month after gaining 0.6% in January, the Labor Department said on Thursday. In the 12 months through February, the CPI shot up 7.9%, the biggest year-on-year increase since January 1982. That followed a 7.5% jump in January and was the fifth straight month of annual CPI readings north of 6%.

In Europe, investors weighed the European Central Bank's decision to unwind stimulus measures sooner than expected. The bank said Thursday it will end its bond-buying program in the third quarter of this year, if the economic data allows for it.

Domestic markets:

Back home, the benchmark indices settled with robust gains on Thursday, rising for the third straight day. The barometer index, the S&P BSE Sensex, jumped 817.06 points or 1.50% at 55,464.39. The Nifty 50 index advanced 249.55 points or 1.53% at 16,594.90.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,981.15 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 945.71 crore in the Indian equity market on 10 March, provisional data showed.

Powered by Capital Market - Live News