JKB Financial Services Ltd.

As on : 27-Jun-2023

Market Commentary - Pre-Session
27-Jun-2023 08:07

SGX Nifty hints at positive opening

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 30 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Tuesday as investors held tight ranges awaiting clues on the interest rate outlook and wary of risks about China's shaky economic recovery and developments in Russia after an aborted mutiny.

S&P Global on Monday cut its forecast for China's economic growth to 5.2% in 2023, down from an earlier estimate of 5.5%, underscoring the uneven nature of the country's recovery from the pandemic.

US stocks slid on Monday amid concern that the Federal Reserve and its peers around the world will push economies into recession. The technology sector led the declines on Wall Street, as AI-favorite Nvidia Corp. and Facebook-parent company Meta Platforms Inc. dipped.

Domestic markets:

Back home, the key equity benchmarks ended the day near unchanged. The barometer index, the S&P BSE Sensex fell 9.37 points or 0.01% to 62,970. The Nifty 50 index added 25.70 points or 0.14% to 18,691.20.

Foreign portfolio investors (FPIs) sold shares worth Rs 409.43 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 250.12 crore in the Indian equity market on 26 June, provisional data showed.

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