Home / Business / Money / Nifty likely to open in red following weak global cues

Nifty likely to open in red following weak global cues

S&P 500 saw its biggest decline in a month and closed well below the 2000 mark on fears that Fed may signal a change in stance at the upcoming FOMC meet. CBOE VIX rose over 6 percent to 13.5 percent. Asia too opens negative in today’s trade.

The News International Team

The Indian equity market is likely to open the day on a weak note. The SGX Nifty, an indicator of the market opening, was trading at 8139, down 38.50 points, at 7:50.

In the US, stocks closed lower on fears that Fed may signal a change in stance at the upcoming FOMC meet.

And in Europe, shares closed lower on the back of fears over an upcoming independence vote for Scotland spreading across the region and weak trade on Wall Street.

In the currency space, it was broad rally in the US dollar. The greenback hit a fresh six-year high versus the yen. However, some stability in euro and sterling eased the dollar gains marginally. The dollar index was holding just above the 84 mark.

In commodities, Brent crude oil prices fell below USD 100 per barrel in volatile trade , a fourth straight daily decline as ample supplies weighed.

In one of the most ambitious product launches in its history, Apple unveiled two new iPhones, a mobile payments system and a watch. Nevertheless, a five percent rally in Apple fizzled out with the stock ending in the red.

Back home, Dalal Street yesterday saw a day of consolidation with frontline indices ending in the red and defensives like FMCG and pharma cushioning the fall. The 30-share BSE Sensex fell 54.53 points to close at 27265.32 while the Nifty stayed above the 8150 level, down 20.95 points at 8152.95. ( Read more )

In other news, Reserve Bank of India widened the ambit of wilful defaulters as banks can term key executives of a defaulting company and even non-group entities as wilful defaulters if they refuse to pay up.

The Supreme Court reserved its judgment in the coal scam after hearing final arguments. The government made its case to save 40 operational mines. Coal and power producers seek the appointment of a judicial committee to look into all allotments before de-allocation.

Leave a Reply

x

Check Also

Rupee recovers 6 paise to 67.01

The rupee today recovered some lost ground by rising 6 paise to ...

Notes ban to have positive impact on economy

NEW DELHI: The government’s demonetisation move has led to widespread adoption of ...