Domestic equity markets are likely to open on a lower note on Thursday, as indicated by the SGX Nifty futures traded on the Singapore Exchange. Ahead of the opening of the capital markets in India, the SGX Nifty futures were last seen trading 23.00 points - or 0.20 per cent - lower at 11,650.50. The SGX Nifty, traded on the Singapore Exchange, is an early indicator of the National Stock Exchange (NSE) Nifty in India. On Wednesday, the domestic stock market benchmarks Sensex and Nifty had finished 0.22 per cent and 0.21 per cent higher respectively, rising for a third session in a row.
Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 16.97 crore on Wednesday, provisional data from the NSE showed.
Meanwhile, equities in other Asian markets fell amid concerns about global economic prospects and the ongoing US-China trade war.
Japan's Nikkei 225 benchmark index fell 1.6 per cent, while Hong Kong's Hang Seng index and the Shanghai Composite dipped 0.7 per cent each.
The losses in Asia followed a negative lead from Wall Street, where big-name firms including Caterpillar and United Technology sank on weak corporate reports.
Overnight on Wall Street, the Dow Jones industrial average finished 0.4 per cent lower.
With an expected Federal Reserve interest rate cut already priced in, having fuelled a healthy rally, and few other catalysts to drive buying, analysts said investors are also cashing out.
(With agency inputs)
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