homemarket NewsMarket setup: SGX Nifty hints at subdued start for Sensex, Nifty following weak global cues
market | Jun 9, 2022 9:02 AM IST

Market setup: SGX Nifty hints at subdued start for Sensex, Nifty following weak global cues


Domestic equity market benchmarks BSE Sensex and Nifty 50 were likely to open in red on Thursday, a day of weekly F&O expiry, as suggested by trends on SGX Nifty.

Wall Street and European stocks fell on Wednesday as the prospect of rate hikes soured sentiment, while bond yields rose after euro-zone GDP beat expectations, adding to bets of a more hawkish European Central Bank.

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The SGX Nifty indicated a lower start on Thursday, in line with what the global market hand-off from overnight was.
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Indian equity benchmarks failed to stay in the green on Wednesday after the Reserve Bank of India (RBI) gave the key lending rate a lift along expected lines, sending most of the rate-sensitive stocks rising. The Nifty50 gave up a key support level — 16,400 — decisively after the central bank's policy announcements.
European shares fell on Wednesday amid weakness in lenders after a profit warning from Credit Suisse. The pan-European Stoxx 600 index was down 0.6 percent at the last count. An European Central Bank (ECB) meeting on Thursday and Fed deliberations in the next week remained in focus.
S&P 500 futures were down 0.2 percent, suggesting a lower opening ahead on Wall Street.
Watch the accompanying video of CNBC-TV18's Prashant Nair for more details.
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