Market Live Updates Today: Trends on SGX Nifty indicate a positive opening for the broader index in India with a gain of 63 points.

The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the broader index in India with a gain of 63 points.

Indian stock markets seem to be ensnared by a bear trap as the benchmark indices slumped to fresh 52-week lows on June 16, stretching their losing streak to a fifth consecutive session. The BSE Sensex plunged 1,046 points or 2 percent to 51,496 while the Nifty50 tanked 332 points or 2.11 percent to 15,360.60.

The broader markets fell in line with the benchmarks. Nifty Midcap 100 and Smallcap 100 slumped more than 2 percent and 3 percent respectively.

Market breadth was largely in favour of the bears; about eight shares declined for every share rising on the NSE.

US Markets

US stock indexes closed sharply lower on Thursday in a broad sell-off as recession fears grew following moves by central banks around the globe to stamp out rising inflation after the Federal Reserve's largest rate hike since 1994.

The benchmark S&P 500 suffered its sixth decline in seven sessions. Stocks had rallied on Wednesday as the Fed delivered an aggressive 75 basis point rate hike, as expected, to help the index snap its longest daily losing streak since early January.

The Dow Jones Industrial Average fell 741.46 points, or 2.42%, to 29,927.07, the S&P 500 lost 123.22 points, or 3.25%, to 3,666.77 and the Nasdaq Composite dropped 453.06 points, or 4.08%, to 10,646.10.

Asian Markets

Shares in Asia-Pacific were lower in Friday morning trade, following sharp declines on Wall Street as investors weigh the possibility of aggressive monetary policy tightening leading to a recession. The Nikkei 225 in Japan fell 2.32% while the Topix index shed 2.25%. South Korea's Kospi declined 1.17%.