Weak opening on the cards
02-Aug-23   08:20 Hrs IST

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 51 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading lower Wednesday after ratings agency Fitch cut the US credit rating.

Wall Street stocks ended mostly lower on Tuesday amid a slew of corporate earnings results, while manufacturing sector data supported hopes that the central bank could skip another rate hike in September.

Fitch Ratings lowered the United States' long-term foreign currency issuer default rating to AA+ from AAA Tuesday night, citing ?expected fiscal deterioration over the next three years.?

Domestic markets:

Back home, domestic equity barometers ended with minor cuts on Tuesday. The barometer index, the S&P BSE Sensex slipped 68.36 points or 0.10% to 66,459.31. The Nifty 50 index lost 20.25 points or 0.10% to 19,733.55.

Foreign portfolio investors (FPIs) sold shares worth Rs 92.85 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,035.69 crore in the Indian equity market on 1 August, provisional data showed.

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