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At 07:30 am, the SGX Nifty quoted at 16,880, indicating an opening loss of around 100 points on the Nifty index.
Market action today may continue to be volatile as FII flows turn weak and monthly F&O expiry draws closer. That apart, the RBI’s three-day monetary policy committee meet will also kickoff today.
Among stocks, NDTV will be in focus as the Securities and Exchange Board of India (SEBI) has moved the Supreme Court against the media company. Read here
Dr Reddy’s will also be on the radar as it has received US FDA nod for marketing Timolol Maleate, which is used to treat Glaucoma.
Global Cues
In the US, the S&P 500 and Dow Jones reversed losses and ended lower as comments from Federal Reserve officials reaffirmed the central bank’s resolve to fight inflation. Nasdaq, however, managed to end higher.
The yield on the 10-year Treasury rose to 3.963 per cent, hitting fresh 12-year highs.
This morning in Asia, Nikkei and Hang Seng were down up to 1 per cent each, while Kospi and Taiwan declined around 0.5 per cent each.
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