Indian equity benchmarks are set to open lower on Thursday as indicated by Nifty futures traded on the Singapore Exchange amid weak global cues. The Nifty futures traded on Singapore Exchange, also known as the SGX Nifty fell over 1 per cent or 137 points to 13,843. Meanwhile, Asian shares slid on Thursday while the safe-haven dollar rallied as a sudden sell-off on Wall Street and delays with coronavirus vaccines shook investor optimism about an early recovery for the global economy.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.2 per cent, with valuations looking stretched given the index had risen more than 6 per cent just this month.
Japan’s Nikkei fell 1.3 per cent, its sharpest drop since October, and Chinese blue chips 1.5 per cent. South Korea eased 0.9 per cent led by losses in Samsung after it reported earnings.
Even the tech darlings were not immune with Facebook down despite reporting earnings well above expectations. Apple Inc also handily beat forecasts, yet its shares lost 3 per cent after the bell.