Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 5 points at the opening bell. Overseas, Asian stocks are trading higher on Friday following heavy losses for some regional markets in the previous trading day, as investors continue to assess the impact of a potentially faster-than-expected policy tightening by the U.S. Federal Reserve.
US stocks fell on Thursday to end a day of choppy trading, following the massive tech sell-off in the previous session. The Dow Jones Industrial Average fell 170.64 points, or 0.47%, to 36,236.47, the S&P 500 lost 4.53 points, or 0.10%, to 4,696.05 and the Nasdaq Composite dropped 19.31 points, or 0.13%, to 15,080.87.
Back home, the benchmark indices witnessed a sharp decline on Thursday, after a four-day rising streak. The barometer index, the S&P BSE Sensex, dropped 621.31 points or 1.03% at 59,601.84. The Nifty 50 index shed 179.35 points or 1% at 17,745.90.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,926.77 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 800.91 crore in the Indian equity market on 6 January, provisional data showed.
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