Nifty to extend gains or fall below 17,700? Check US, Asia stocks, SGX Nifty, FII/DII data, more before market opens

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Indian benchmark indices are likely to open on a flat note, hinted SGX Nifty. Here are eight key things to know before the share market opens for trade on Thursday.

Indian benchmark indices are likely to open on a flat note, hinted SGX Nifty. On the Singapore Exchange, Nifty futures were mildly in the green, up 9 points, at the 17,809 level. Markets extended their rally on Wednesday, ending higher after trading with cuts for most of the session. Nifty gained 42 points to settle at 17,754, while Sensex added 21%, to close at 60,348.

“The global market has fallen back into the grip of uncertainty as the Fed chief signalled the possibility of a prolonged and faster rate hike, contradicting a dovish comment made by another Fed official last week. The market now anticipates a 50 bps rate hike, which has pushed the dollar index to a three-month high. However, a strong recovery was seen in the domestic market towards the end of the day, which kept the bulls on the move,” said Vinod Nair, Head of Research, Geojit Financial Services.

Key things to know before the share market opens

Wall Street Overnight

The Wall Street indices ended mixed on Wednesday as Federal Reserve Chair Jerome Powell concluded his congressional testimony, reiterating that the central bank would continue to raise policy rates until inflation subsides. The Dow Jones Industrial Average fell 0.18%, the S&P 500 gained 0.14% and the Nasdaq Composite added 0.4%.

US Treasury Yields

U.S. Treasury yields wavered on Wednesday. The two-year yields notched their third straight gain while benchmark 10-year notes last fell in price to yield 3.9795%, from 3.975% on Tuesday. The 30-year bond last rose in price to yield 3.8803%, from 3.888% on Tuesday, according to Reuters.

Asian Markets

Stocks in Asia-Pacific were mixed on Thursday. Japan’s Nikkei 225 traded up by 0.55%, and South Korea’s Kospi lost 0.23% in its first hour of t...

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