Indian Shares Likely To Open Lower On Weak Global Cues
(RTTNews) - Lower SGX Nifty points to a negative start for Indian shares Friday morning. Weakness in Asian markets and the overnight lower close on Wall Street amid concerns over rate hikes and slowing growth are also expected to weigh on Indian shares.
Indian shares ended notably lower on Thursday, extending losses for a second straight session amid concerns the Federal Reserve will continue to raise rates aggressively to tackle high inflation.
The benchmark S&P/BSE Sensex ended the session down 412.96 points, or 0.68 percent, at 59,934.01, giving up initial gains. The broader NSE Nifty index slipped 1266.35 points, or 0.70 percent, to settle at 17,877.40.
U.S. stocks closed weak overnight on concerns over the likely impact another aggressive hike by the Fed next week might have on the pace of economic growth.
The Dow slid 0.6 percent, the Nasdaq shed 1.4 percent and the S&P slumped 1.1 percent.
European stocks closed broadly lower on Thursday.
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