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Monday, June 27, 2022
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    HomeBusinessMARKET LIVE: Gap-down open likely on weak cues; SGX Nifty down 200...

    MARKET LIVE: Gap-down open likely on weak cues; SGX Nifty down 200 points

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    Traders, brokers, markets, stocks, shares, investments, funds

    A negative start is likely for Indian equity markets amidst weak global cues. As of 8:09 AM, the SGX Nifty Futures quoted at 16,240 levels, indicating a cut of 238-odd points on the Nifty50. All eyes will be on the US inflation data as it will set tone for the US Federal Reserve meet scheduled next week, on June 15. 

    Globally, the US markets saw a sharp decline as investors’ anxiety heightened ahead of the inflation data. The S&P 500 slid 2.3 per cent, while Dow Jones fell 1.9 per cent, and NASDAQ dropped 2.7 per cent. Besides that, european markets too, closed lower after the European Central Bank (ECB) indicated at a first rate hike in 11 years at their next monetary policy committtee meet in July.

    Prices of crude oil eased from their high as parts of Shanghai returned to lockdown after a week of reopening. While Brent Crude eased to $123 per barrel, WTI Crude hovered at $122 a barrel.

    That apart, back at home, Bajaj Auto will be under investors’ radar after the board plans to mull share buyback proposal on June 15.

    Banks, too, will be keenly watched as they raise their lending rates to keep up with the Reserve Bank of India’s (RBI) rate action. 

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