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Nifty opens below 17,500 on weak global cues

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Indian equity benchmarks are set to open lower as indicated by Nifty futures traded on the Singapore Exchange. Nifty futures contracts also known as SGX Nifty futures, also known as SGX Nifty futures, fell 0.93 per cent or 164 points to 17,438 on the Singapore Exchange amid weak global cues. In Asian markets, Japan’s Nikkei was trading with a decline of 2 per cent, Hong Kong’s Hang Seng Index by 0.4 per cent and Taiwan Weighted Index by 1.4 per cent.

Overnight, Wall Street eased sharply on Thursday and the S&P 500 posted its worst month since the start of the global health crisis, a month beset by concerns over COVID-19, inflation fears and the budget wrangling in Washington. And that was after the quarter.

The Nasdaq index fell 0.44 percent, the S&P 500 index fell 1.2 percent and the Dow Jones index fell 1.6 percent.

Back home, foreign institutional investors sold shares worth Rs 2.225.6 crore on Thursday, while domestic institutional investors bought shares worth Rs 97 crore.

Shares of Paras Defense will be in focus today as the company will make its stock market debut at 10:00 am today.

Maruti Suzuki will be on investors’ radar after the company informed the exchanges that it is expecting an adverse impact on vehicle production in the month of October in Haryana and Gujarat due to shortage of semiconductors.

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