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Domestic stock markets will take cues from continuing foreign inflows in August even as local and global markets ended lower on Friday.
U.S. stocks fell as short-sellers resurfaced and investors turned cautious after Federal Reserve officials beat the drum on hiking rates. Treasury yields climbed and the dollar rose.
The S&P 500 Index extended losses, heading for its biggest daily decline since June. The tech-heavy Nasdaq 100 underperformed major benchmarks, with growth-related stocks among the hardest hit Friday.
Wall Street’s fear gauge, the Cboe Volatility Index, jumped the most in more than two weeks, back above 20.
The Nifty 50 snapped its longest winning streak in 21 months even as it gained for the fifth week in a row, aided by FMCG and energy stocks. The Sensex fell more than 650 points to close at 59,646.15. The gauge snapped a five-day winning streak.
Yet, foreign investors, after having turned net buyers in July for first time in 10 months, continued to pile into Indian stocks. They have so far net invested Rs 44,500 crore in equities in August so far.
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Image and article originally from www.bqprime.com. Read the original article here.