Torrent hits `1 lakh-cr mcap mark
The SGX Nifty is indicating a slightly lower start for the broader index, with an expected loss of 60 points on Monday, as SGX futures stood at 18,814 points.
In the US markets, stock futures were relatively flat on Sunday evening, as investors looked for further momentum in the market rally during the final week of June. Futures tied to the Dow Jones Industrial Average inched up by 55 points, or less than 0.2 percent, while S&P 500 futures and Nasdaq 100 futures also saw modest gains of about 0.2 percent.
Last week, the market rally faltered, with the Nasdaq Composite falling 1.44 percent and breaking an eight-week winning streak. The S&P 500 dipped 1.01 percent, ending a five-week streak, while the Dow dropped 1.67 percent, halting a three-week positive run. Despite the recent pullback, certain segments of the market remain on track for a strong first half of the year. The tech-heavy Nasdaq Composite is up nearly 29 percent year-to-date, and the S&P 500 is up more than 13 percent, while the Dow has gained less than 2 percent.
In European markets, stocks closed lower on Friday after four consecutive sessions of declines. The Stoxx 600 index ended 0.3 percent lower, with most sectors in negative territory. Oil and gas stocks fell by 2.2 percent due to lower oil prices, and mining stocks dropped by 1.7 percent. However, health care and telecoms stocks recorded modest gains, each closing 0.7 percent higher. Siemens Energy, the spinoff of the German conglomerate, plunged 37 percent after abandoning its profit outlook for the year due to issues in its wind turbine division. The FTSE closed 0.54 percent lower at 7,461 points, while the DAX closed 0.99 percent lower at 15,829 points.
In Asia-Pacific markets, the start of the final week of June was mixed. Japan's Nikkei 225 fell by 0.38 percent, continuing its retreat, while the Topix dropped by 0.34 percent. South Korea's Kospi gained marginally, while the Kosdaq saw a larger gain of 0.14 percent. Australia's S&P/ASX 200 fell by 0.41 percent, dragged down by energy stocks. Hong Kong's Hang Seng index is also expected to decline, with futures at 18,764 compared to the HSI's previous close of 18,889.97.
Oil prices declined on Friday, heading for a weekly drop as traders expressed concerns over potential interest rate hikes dampening demand, despite signs of tighter supplies, including lower US crude stocks. Brent crude settled down 0.39 percent at $73.85 per barrel, while US West Texas Intermediate (WTI) crude fell by 0.50 percent to $69.16 per barrel.
The Dollar index traded 0.47 percent higher in futures at 102.87, while the value of one dollar remained near Rs 81.99.
Gold prices experienced their biggest weekly percentage fall in over four months, influenced by a stronger dollar and a hawkish stance on rate hikes from Federal Reserve officials. Spot gold was up 0.3 percent to $1,918.79 per ounce, after a 2.1 percent decline for the week, while US gold futures gained 0.3 percent to $1,928.90.
Foreign institutional investors (FII) sold shares worth Rs 344.81 crore, while domestic institutional investors (DII) offloaded shares worth Rs 684.01 crore on June 23, according to provisional data from the National Stock Exchange.