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Two Federal Reserve officials said on Monday that the US economy is growing rapidly
SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 22 points at the opening bell on Tuesday.
Global markets: Overseas, Asian stocks traded mixed following overnight declines for the Dow Jones Industrial Average and S&P 500 on Wall Street. Worries about the impact of Covid on global growth continued to weigh on investor sentiment, with countries grappling with the spread of the highly transmissible delta variant of the virus.
In the US, the S&P 500 dipped on Monday, as fuel demand worries during a resurgent pandemic sent energy stocks lower but rising US Treasury yields lifted financials stocks, keeping Wall Street’s benchmark index near record levels.
Two Federal Reserve officials said on Monday that the US economy is growing rapidly and that while the labor market still has room for improvement, inflation is already at a level that could satisfy one leg of a key test for the beginning of interest rate hikes.
Domestic markets: Back home, the domestic equity benchmarks managed to end with decent gains on Monday. The barometer index, the S&P BSE Sensex, advanced 125.13 points or 0.23% to 54,402.85. The Nifty 50 index added 20.05 points or 0.12% to 16,258.25.
Foreign portfolio investors (FPIs) bought shares worth Rs 211.91 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 716.15 crore in the Indian equity market on 9 August, provisional data showed.
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