Home / Business / Money / SGX Nifty hints at a weak opening for market today

SGX Nifty hints at a weak opening for market today

Despite a strong session on Thursday, the SGX Nifty is indicating a weak opening for the market. Sensex yesterday rallied over 300 points to move closer to the 26,000 mark. Nifty, as well, soared past the 7,800 level.

TheNewsInternational Team

Despite a strong session on Thursday, the SGX Nifty is indicating a weak opening for the market. Sensex yesterday rallied over 300 points to move closer to the 26,000 mark. Nifty, as well, soared past the 7,800 level.

SGX Nifty was trading at 7,809 level, down about 50 points at the time of writing the copy.

On the domestic front, the Reserve Bank of India (RBI) released norms to calculate base rate by using marginal cost of funds.

Automobile giant, Maruti won its shareholders approval to allow Suzuki to own the Gujarat plant. 90 percent of the shareholders accepted the proposal.

Also, the US Visa is set to get expensive for Indian IT firms as a special visa fee will hike costs by a whopping 50 percent. The Indian companies could face a 400 million dollar bill.

Asian markets opened lower by half to around one percent due to profit booking.

In US, stocks closed near sessions lows as investors eye oil prices and economic data post the expected rate hike by the Federal Reserve.

In other asset classes, crude remains under pressure on oversupply concerns..in currencies, dollar gains but argentina’s peso plunges over 26 percent as new government floats the currency

In currency space, the US dollar stands its highest in two weeks.

In commodities, crude remained under pressure due to relentless oversupply. Gold fell over two percent to USD 1050 an ounce as the dollar surged.

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 ...