The markets are likely to open on a flat note as investors fear economic slowdown. As of 8:05 AM, the SGX Nifty quoted at 15,261 levels, indicating a downside of 32-odd points on the Nifty50. Going forward, recession fears coupled with aggravated foreign outflows from Indian equities will likely keep markets on tenter hooks.
Though the US equity futures reflected sombre mood, shares of Asia-Pacific inched up on Monday morning. Japan’s Nikkei 225 was up 0.5 per cent and South Korea’s Kospi advanced 0.1 per cent. The US markets shall remain closed on Monday, June 20, on account of Juneteenth holiday.
Back home, foreign portfolio investors (FPIs) pulled out Rs 31,430 crore worth of equities so far in June. With this, the net foreign outflows from equities has reached Rs 1.98 lakh crore in 2022 till now.
Among individual stocks, public sector banks’ will be focus as Finance Minister Nirmala Sitharaman is scheduled to meet the heads of public sector banks to review their performance and progress. That apart, Coal India will hog limelight after production inched up 28 per cent in June so far, from a year-ago period.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
CATCH ALL THE LIVE UPDATES