SGX Nifty indicates weak start for Indian equity indices; key things to know before opening bell

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 76 points at the opening bell. Overseas, Asian stocks traded mostly lower on Friday amid escalating coronavirus concerns. The surge in the covid infections worldwide has been relentless, with spiking cases in the US and Japan so much so that the world’s third-largest economy is set to expand the state of emergency on Friday to Tokyo’s three neighbouring prefectures of Osaka, Saitama, Chiba and Kanagawa.

Japan’s industrial output jumped 6.2% in June, sharply rising from a 6.5% drop in May. June retail sales rose 0.1% from a year earlier.

US stocks rose to record levels on Thursday as investors shrugged off economic data pointing to slower-than-expected growth.

The US economy expanded 6.5% annualized in the second quarter, according to government data released Thursday. The number of Americans collecting unemployment benefits slid last week. Jobless claims dropped by 24,000 to 400,000 last week, the Labor Department reported Thursday.

Domestic markets: Back home, the domestic equity benchmarks ended with modest gains after a volatile session on Thursday. The barometer index, the S&P BSE Sensex, advanced 209.36 points or 0.4% to 52,653.07. The Nifty 50 index added 69.05 points or 0.44% to 15,778.45.

Foreign portfolio investors (FPIs) sold shares worth Rs 866.26 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,046.96 crore in the Indian equity market on 29 July, provisional data showed.

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