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Indian stock markets will track global cues and foreign inflows as they open after the weekend on Monday.
The U.S. markets are witnessing a selloff after the hawkish commentary by the Fed even as it slowed the pace of rate hikes amid signs of easing U.S. inflation. The European Central Bank and Bank of England also maintained a similar stance while increasing rates last week.
A new wave of Covid in Beijing has also damped sentiment.
The S&P 500 fell 1.1% on Friday, while the Nasdaq 100 declined 0.9%.
Meanwhile, foreign portfolio investors have continued to buy domestic equities in December. Having invested more than Rs 36,200 crore in November, they have net injected Rs 10,555 crore into Indian stocks so far this month.
The Indian benchmarks, however, fell for the second straight week and closed lower on Friday. The Sensex ended 461 points, or 0.75%, lower, at 61,337.81, while the Nifty 50 was down 146 points, or 0.79%, at 18,266.
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Image and article originally from www.bqprime.com. Read the original article here.