STOCK EYE-SGX Nifty lower after slight pullback in Wall Street shares

  • Nifty futures on the Singapore Exchange down 0.33 percent, while the MSCI-Asia Pacific index .MIAPJ0000PUS excluding Japan is 0.4 percent lower
  • The dollar was under pressure but global shares found support on Wednesday after Federal Reserve Chairman Ben Bernanke reiterated the Fed’s commitment to easy policy, cementing expectations its stimulus will stay for the rest of year.
  • Foreign institutional investors bought shares worth 10.14 billion rupees ($162.78 million) on Tuesday, exchange data shows.
  • Traders say with the results season coming to an end, the market will focus on how developments on the global front and state elections impact foreign fund flows.
  • Bank stocks will be watched after Finance Minister Palaniappan Chidambaram on Tuesday called a recent spike in government bond yields temporary, while saying the central bank could take some steps to bring the yields down should food inflation moderate.
  • India’s foreign investment promotion board has approved 20 foreign direct investment proposals worth 9.16 billion rupees ($146.7 million), a finance ministry statement said on Tuesday.

Courtesy: Reuters

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