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Market may open slightly lower

·2-min read

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 11 points at the opening bell.

Global markets:

Overseas, Asian stocks are mostly up on Thursday, with U.S. markets reversing their losses from Wednesday's U.S. big tech stocks selloff during the previous session.

In US, Wall Street's main indexes ended higher on Wednesday to snap a three-session losing skid as investors jumped back in to take advantage of the pullback in technology-related stocks.

Stay-at-home companies such as Facebook Inc and Google-parent Alphabet Inc climbed, while electric-car maker Tesla Inc rebounded nearly 11% after suffering its biggest one-day percentage drop.

US employers advertised more jobs but hired fewer workers in July. The Labour Department said Wednesday that the number of US job postings on the last day of July rose to 6.6 million from 6 million at the end of June. A year earlier, employers posted 7.2 million job openings. Hiring dropped to 5.8 million from 7 million in June. The number of Americans laid off or discharged fell to 1.7 million from nearly 2 million in June.

Later on Thursday, the European Central Bank (ECB) is expected to announce its interest rate decision as well as monetary policy statement. The ECB is reportedly expected to make no policy changes and reiterate it stands ready to adjust all of its instruments, as appropriate, at its policy meeting.

Domestic markets:

Back home, key equity benchmarks ended with modest losses on Wednesday. The S&P BSE Sensex, slipped 171.43 points or 0.45% at 38,193.92. The Nifty 50 index lost 39.35 points or 0.35% at 11,278.

Foreign portfolio investors (FPIs) sold shares worth Rs 959.09 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 263.97 crore in the Indian equity market on 9 September, provisional data showed.



Source: Capitalmarket.com