MARKETS: Sensex down 500 pts, Nifty near 17,050 in pre-open

Pre-open session

LIVE market updates: The benchmark indices were seen in the negative territory amid weak global cues. The BSE Sensex was down 541 points at 57,316, while theb NSE Nifty was lower by 215 points at 17,062.

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LIVE market updates: The key benchmarks are likely to start sharply lower on Thursday as indicated by levels of SGX Nifty February futures, which were at 16,917 this morning, lower by over 350 points as compared to Nifty’s spot close the previous session.

The markets may remain volatile as domestic investors react tothe US Federal Reserve reaffirming its stance on a tighter monetary policy starting from March 2022.

In the primary market, the IPO of Adani Group joint venture-Adani Wilmar will open for subscription. The company has raised 940 Rs crores from anchor investors. It plans to raise up to Rs 3,600 crore by way of fresh issue of equity shares. The price band is fixed at Rs 218- 230.

Global cues

Overnight in the US, the key benchmark indices wiped-out solid gains in late trade soon after the US Federal Reserve released the policy minutes, which signaled that Fed was likely to raise rates and end its bond purchases in March itself.

The Dow Jones and the S&P 500 ended 0.4 per cent and 0.2 per cent lower at 34,168 and 4,350, respectively, as against the day’s high of 34,816 and 4,453, respectively. Similarly, Nasdaq erased more than 450 points from the day’s high, to end almost unchanged at 13,542.

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