Pre-Mkt Cues on Last Day of Q2: RBI MPC Decision Due, Global Equities & More

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Pre-Mkt Cues on Last Day of Q2: RBI MPC Decision Due, Global Equities & More
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The Nifty 50 Futures listed on the Singapore-based Exchange SGX, an early indicator for Nifty50 , traded 0.2% or 33.5 points lower at 8:35 am on Friday, indicating a lower opening on Dalal Street on the last day of the second quarter.

Further, the Dow Jones Futures dipped 0.12% and Nasdaq 100 Futures traded muted.

RBI’s Monetary Policy Committee will deliver its three-day policy meet decision today. Economists widely expect the central bank to deliver a 50 basis point rate hike, taking the benchmark lending rate to a three-year high of 5.9%.

Read Also: RBI MPC Outlook: When, Announcement Timing, Rate-Hike Expectations & Headwinds

Major indices on Wall Street made sharp losses on Thursday on rising worries of the US economy approaching recession amid the Fed’s aggressive monetary policy to fight decades-high inflation. Tech heavyweights like Nvidia and Apple (NASDAQ: AAPL ) plunged over 4%.

Nasdaq Composite plummeted 2.84%, hovering at its lowest level of 2022, S&P 500 plunged 2.1%, recording its lowest since Nov 2020 and Dow Jones fell 1.54%.

Stocks across Asian markets fell on Friday, heading for the worst month since the Covid-19 pandemic began, tracking the overnight Wall Street crash, along with jitters in currency and bond markets.

India’s CAD has widened to $23.9 billion in the April-June period from $13.4 billion in the previous quarter.

At 8:30 am, Japan’s Nikkei tanked 1.67%, South Korea’s Kospi slipped 0.17%, China’s Shanghai Composite traded flat, Hong Kong’s Hang Seng index gained 0.3% and Australia's ASX 200 declined 0.7%.

Oil traded flat, with Brent crude at $87.17/barrel and WTI Futures at $81.2/barrel at the time of writing. Natural Gas Futures slipped 0.5%.

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