GIFT Nifty signals weak opening

GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could slide 58 points at the opening bell.

Global markets:

Overseas, Asian stocks are trading mixed on Tuesday as markets await events due later this week for a better gauge of the global interest-rate outlook.

US stocks ended with modest losses on Monday, as the focus shifted after last week`s AI-fuelled rally to upcoming economic data that could affect the timing of the Federal Reserve`s expected interest rate cut.

Domestic markets:

Back home, the domestic stock market extended losses on Monday, dragged by select heavyweight stocks. The barometer index, the S&P BSE Sensex slipped 352.67 points or 0.48% to 72,790.13. The Nifty 50 index lost 90.65 points or 0.41% to 22,122.05.

Foreign portfolio investors (FPIs) sold shares worth Rs 285.15 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 5.33 crore in the Indian equity market on 26 February, provisional data showed.

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