MARKET LIVE: SGX Nifty hints faint start amid weak global cues, up 40 pts
A flat start is likely for the Indian equity markets as global cues turn unsupportive and investors fear aggressive rate hikes down the road. As of 7:47 AM, the SGX Nifty Futures quoted 15,984 levels, up 46-odd points on the Nifty50.
Globally, the US markets were mixed on Thursday as Dow Jones and the S&P 500 slipped 0.4 per cent and 0.3 per cent, respectively. However, investors turned their focus to growth stocks as NASDAQ Composite gained 0.03 per cent.
That said, Asia-Pacific markets traded on a volatile note on Friday morning. While Japan’s Nikkei 225 gained 0.3 per cent, Hong Kong’s Hang Seng Index dropped 0.9 per cent.
Meanwhile, prices of crude oil inched up on Friday amid uncertainity around rate hikes by the US Fed. Brent Crude advanced 0.9 per cent to $100 per barrel and WTI Crude climbed 0.7 per cent to $96 per barrel.
Back home, shares of L&T Technology Services and Oberoi Realty will be in focus as they report their June quarter 2022 results. Besides, cement maker – ACC reported 60.7 per cent YoY decline in consolidated net profit to Rs 227 crore from Rs 569 crore, a year ago.
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