The fresh week is likely to open on a negative note for domestic markets, amid mixed global cues. SGX Nifty at 18,200 indicates a downward bias for the Nifty and Sensex, as Nifty June futures and May futures on Friday closed at 18300 and 18231. Crucial factorsVinod Nair, Head of Research at Geojit Financial services, said: the domestic market’s rally, supported by FIIs & domestic investor inflows, faced headwinds this week from weak cues in global markets. According to him, the moderation in domestic inflation reaffirmed the central bank’s decision to maintain a pause on rate hikes. Despite market fluctuations, FIIs continued to provide support to the domestic market.

Source: The Hindu May 22, 2023 08:13 UTC