Market LIVE: Lower open on cards as SGX Nifty slips 100pts amid weak cues
At 8 am, the SGX Nifty futures were trading at 16,495 level, indicating a gap-down open of 100 points for the Nifty 50 index.
Global share markets slid on Thursday as US inflation hit almost 8 per cent, confirming that the Federal Reserve will most likely raise interest rates next week.
On Thursday, the benchmark indices logged strong gains in tandem with global peers, with assembly election victory for BJP in 4 out of 5 states also aiding the sentiment.
Back home, market will also take note of the monthly IIP and manufacturing numbers to be announced post market hours today.
Among individual stocks, Lupin may be in focus as it has launched its first Reference Laboratory in East India in Kolkata. It is also setting up laboratories in West Bengal, Assam, Bihar, Jharkhand and Orissa to comprehensively cater to the East India region.
Major markets in Asia were down sharply in trades on Friday morning as the pull-back rally fizzled out. Nikkei and Shanghai Composite tumbled 2 per cent each, while Hang Seng plunged 3 per cent. Kospi slipped over a per cent. Taiwan and Straits Times were down 0.7 per cent and 0.3 per cent, respectively.