MARKET UPDATE: Indian equity markets are likely to open lower
Published On: Friday, July 1, 2022 | By: Team KnowMyStock
The Indian equity markets are likely to open lower in trade today(1 July 2022) amid unfavourable global sentiments. As of 7:50 AM, the SGX Nifty Futures quoted 15,722 levels, signaling a cut of 50-odd points on the Nifty50. The US markets continued to be under selling pressure yesterday. Fed's tough talks coupled with recession fears eroded investor sentiment and bogged down the S&P 500 to the path of the worst first half of the year since 1970. Both Dow Jones and the S&P 500 shed 0.8 percent each, whereas, NASDAQ Composite lost 1.3 percent.
Major markets in Asia-Pacfic followed the glum overseas on Friday morning. Japan's Nikkei 225 dropped 0.7 per cent and South Korea's Kospi shed 0.1 per cent.
Meanwhile, prices of crude oil were volatile in trade. Brent Crude fell 1.2 per cent to $114 a barrel and WTI Crude advanced 0.5 per cent to $106 per barrel.
In Indian domestic markets, investors will watch out monthly auto sales figures due on Friday, July 1 as they pin hopes of revival from chip crunch and supply disruptions to aid demand. That apart, Future Enterprises once again defaulted on interest of payment of Rs 6.1 crore for its NCDs.
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