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Trading could be volatile as traders roll over positions in the F&O segment from the near month June series to July series. The June 2021 F&O contracts will expire today, 24 June 2021.
SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 25 points at the opening bell.
Global markets: Overseas, Asian stocks traded steady Thursday after US shares moved in narrow ranges as traders digested commentary from Federal Reserve officials on the outlook for stimulus.
In the US, the S&P 500 erased modest gains earlier and closed in the red on Wednesday as the market’s comeback rally took a breather. The Nasdaq hovered near its all-time high on Wednesday.
Dallas Fed President Robert Kaplan, who’s pencilled in a rate hike next year, said the economy will likely meet the Fed’s threshold for tapering asset purchases sooner than people think. His Atlanta counterpart Raphael Bostic said the central bank could decide to slow such purchases in the next few months. Neither are currently voting members of the Fed’s rate setting committee.
A measure of US factory activity climbed to a record high in June. Data firm IHS Markit said on Wednesday its flash US manufacturing PMI rose to a reading of 62.6 this month. That was the highest since the survey was expanded to cover all manufacturing industries in October 2009 and followed a final reading of 62.1 in May.
The US current account deficit increased to a 14-year high in the first quarter. The Commerce Department said on Wednesday the current account deficit, which measures the flow of goods, services and investments into and out of the country, rose 11.8% to $195.7 billion last quarter. That was the largest shortfall since the first quarter of 2007.
Domestic markets: Back home, key indices reversed early gains and closed near the day’s low with modest losses on Wednesday. The barometer index, the S&P BSE Sensex, fell 282.63 points or 0.54% at 52,306.08. The Nifty 50 index lost 85.80 points or 0.54% at 15,686.95.
Foreign portfolio investors (FPIs) bought shares worth Rs 3,156.53 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,317.20 crore in the Indian equity market on 23 June, provisional data showed.
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