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Indian shares set to open lower after Wall Street slide

11/28/2022 | 09:41pm EST
FILE PHOTO: A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai

BENGALURU (Reuters) - Indian stocks were on Tuesday set to ease from all-time highs hit in the previous session, following an overnight slide in Wall Street on worries about China's COVID-19 management and as oil prices pared losses.

India's NSE stock futures listed on the Singapore exchange were down 0.34% at 18,667.50 as of 0730 IST.

Wall Street equities fell overnight on Monday, on COVID protests in China and ahead of commentary from Federal Reserve for any clues on its future rate hiking path. Asian markets recovered from a weak start on Tuesday, with the MSCI Asia ex-Japan index rising 0.96%.

Meanwhile, global oil benchmarks erased some losses after sliding to their lowest levels in nearly a year on Monday, aided by speculation that OPEC+ could cut production due to weakness in demand in China, the world's biggest crude oil importer. U.S. crude rose 1.3% to $77.24 per barrel, while Brent crude trimmed losses to close above $83 per barrel.

On Monday, the NSE Nifty 50 index rose 0.27% to settle at 18,562.75, and the S&P BSE Sensex climbed 0.34% to end at 62,504.80, with both notching closing highs for the third straight session.

Foreign institutional investors bought net of 9.36 billion rupees ($114.65 million) equities on Monday, while domestic investors purchased 879.3 million rupees ($10.66 million) worth of shares, as per provisional NSE data.

Stocks To Watch:

** NDTV: NDTV said an entity backed by its founders had issued shares to a unit of Adani Group.

** Can Fin Homes: Company declared an interim dividend of 1.50 rupees per share.

** Lupin: Company's Brazilian unit acquired rights to nine brands from Bausch Health

** NBCC: Company secured work orders worth 2.72 billion rupees in two projects in Amrapalli group.

($1 = 81.6400 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Dhanya Ann Thoppil)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BAUSCH HEALTH COMPANIES INC. -6.68% 7.82 Delayed Quote.24.52%
BRENT OIL -1.15% 83.43 Delayed Quote.-1.80%
CAN FIN HOMES LIMITED 0.09% 540.55 End-of-day quote.1.02%
MSCI AC ASIA EX JAPAN (STRD) -0.74% 679.459 Real-time Quote.10.54%
MSCI SINGAPORE (GDTR) -0.99% 5886.2 Real-time Quote.6.90%
NIFTY 50 0.07% 17662.15 Delayed Quote.-2.52%
NIFTY 500 0.55% 14935.5 Delayed Quote.-3.85%
S&P GSCI BRENT CRUDE INDEX -1.28% 709.788 Real-time Quote.0.57%
S&P GSCI CRUDE OIL INDEX -1.48% 420.64 Real-time Quote.-0.72%
SENSEX BSE30 0.08% 59549.9 Real-time Quote.-2.20%
WTI -1.44% 76.775 Delayed Quote.-0.08%
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