Nifty Seen Opening Lower Around 16,350; CarTrade Tech In Focus

Foreign institutional investors sold shares worth Rs 595 crore on Wednesday while domestic institutional investors sold shares worth Rs 729 crore.

Nifty Seen Opening Lower Around 16,350; CarTrade Tech In Focus

Nifty is seen opening gap down as indicated by the Nifty futures on Singapore Exchange. Nifty futures on Singapore Exchange also known as the SGX Nifty futures was trading 2 points higher at 16,341 compared with Nifty's closing of 16,569 on Wednesday. Meanwhile, Asian shares extended losses on Friday from the 2021 low set a day earlier, while the dollar held onto its recent gains sitting at a nine-month high.

MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.75 per cent, with Chinese blue chips down 1.22 per cent and Hong Kong down 0.53 per cent.

Japan's Nikkei fell 0.53 per cent, and U.S. stock futures, the S&P 500 e-minis, were down 0.26 per cent.

A day earlier Asian and European stock markets and oil fell sharply and the dollar rose to a nine month high, after the prospect of the Federal Reserve cutting back bond purchases spooked investors.

Overnight, Wall Street, stocks ended the day mixed, with defensive and tech-heavy stocks regaining ground after two days of losses. The Dow Jones Industrial Average fell 0.19 per cent, while the S&P 500 climbed 0.13 per cent and the Nasdaq Composite added 0.11 per cent.

Back home, foreign institutional investors sold shares worth Rs 595 crore on Wednesday while domestic institutional investors sold shares worth Rs 729 crore.

CarTrade Tech shares will make their stock market debut at 10:100 am today. The IPO was subscribed 20 times.