Equity indices likely to open flat amid Powell's speech

67
1
Equity indices likely to open flat amid Powell's speech

Share Market Updates Today: Indian equity benchmarks are expected to open on a flat note today as investors wait for gross domestic product GDP data and US Federal Reserve Chairman Jerome Powell's speech, which is due later in the day, to hear about future interest rate hikes. GDP data for the July-September quarter is scheduled to be released on Wednesday at 5: 30 pm. Wall Street equities fell overnight, ahead of Powell's speech on the outlook for the US economy and the labour market. Asian markets were mixed as Japan's Nikkei fell 0.61 per cent, South Korea's Kospi went 0.51 per cent, China's Shanghai Composite rose 0.25 per cent and Hong Kong's Hang Seng index moved 0.24 per cent higher. US crude futures rose 1.2 per cent on expectations of China easing strict Covid 19 controls and a fall in crude stocks, but concerns that OPEC would keep production unchanged in its meeting on December 4, capped gains. Foreign institutional investors bought net of Rs 1,242 crore equities on Tuesday, while domestic investors sold Rs 744 crore worth of shares, as per provisional NSE data.