Futures contracts on the Nifty 50 index that are traded on the Singapore stock exchange show that the Nifty could rise 8 points at the opening bell.
global markets:
Following overnight losses on Wall Street, when the S&P 500 fell further into bear market territory, Asian stocks were flat on Wednesday.
China’s industrial output grew 0.7% annually in May, according to data issued by the government on Wednesday, following a decline of 2.9% in April. In May, retail sales were down 6.7% from the previous year.
Tuesday was a mixed day for U.S. stock indices, as investors were concerned that growing inflation might force the Federal Reserve to swiftly hike interest rates. The S&P 500 fell 0.38 percent to 3,735.48. The Dow Jones Industrial Average decreased by 151.91 points, or 0.5%, to 30,364.83. The Nasdaq Composite was up 0.18 percent at 10,828.35 at the end of the day. The NASDAQ 50 index
Fears of a US recession loomed large prior to Wednesday’s policy decision by the US Federal Reserve. According to a renowned international brokerage, Wednesday’s Fed policy meeting in June will result in a 75-basis-point (bp) increase in interest rates. According to sources, a 75-bp hike would be the largest since 1994.
