INSUBCONTINENT EXCLUSIVE:
The Indian equity benchmarks are set to open marginally as indicated by the Nifty futures traded on the Singapore Exchange amid weak cues
The Nifty futures on Singapore Exchange fell 0.3 per cent or 48 points to 15,787
Meanwhile, other Asian markets were trading lower with Japan's Nikkei down 0.21 per cent, Hong Kong's Hang Seng fell 0.76 per cent,
Taiwan Weighted declined 0.3 per cent and South Korea's KOSPI fell 0.26 per cent.Overnight, Bond yields jumped and global share prices
slipped after posting new highs on Tuesday as the biggest hike in United States inflation in 13 years rattled investors who fear rising
interest rates could end a stock market rally that has doubled prices from 2020 lows.The yield on United States Treasury debt initially
fell on news the United States consumer price index in June jumped 5.4 per cent year over year, the largest gain since August 2008, the
Labor Department said.But a weak Treasury auction sparked a 4.7-basis-point jump in the benchmark 10-year note to 1.41 per cent after
initially falling to 1.343 per cent after the CPI data was released.The inflation spike followed a 5.0 per cent increase in the 12 months
through May, while CPI rose 0.9 per cent month over month after advancing 0.6 per cent in May, gains that unnerved investors.Stocks on Wall
Street at first took the CPI data in stride, bidding up technology stocks that typically thrive with low interest rates.Back home, foreign
institutional investors bought shares worth Rs 114 crore on Tuesday while domestic institutional investors bought shares worth Rs 344
crore.Shares of the country's second largest IT company, Infosys, will be in focus ahead of its June quarter earnings later in the day.L-T
Technology Services will also be in focus ahead of earnings.On the primary market front, Zomato's shares sale via initial public offering
(IPO) will open today and close on July 16.
