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MARKET EYE-SGX Nifty lower; pace of FII buying slows

  • Nifty futures on the Singapore Exchange down 0.54 percent, while the MSCI-Asia Pacific index excluding Japan is 1.07 percent lower.

 

  • Asian stocks stumbled and the dollar stood tall on Thursday after minutes from the U.S. Federal Reserve’s October meeting hinted at stimulus tapering, while the euro was pressured by speculation of more easing by the European Central Bank.

 

  • Foreign institutional investors bought shares worth 800 million rupees ($12.8 million) on Wednesday, exchange data shows.

 

  • However, dealers are worried the pace of flows has slowed down compared with more than 10 billion rupees on Monday and Tuesday.

 

  • Traders say sentiment remains volatile and the NSE index may test 6,000 levels if support at 6,090 is broken.

 [Source:Reuters]

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