The Indian equity benchmarks are set to open lower as indicated by the Nifty Futures traded on Singapore Exchange amid weak cues from other Asian markets. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures fell 0.4 per cent or 74 points to 17,932. The dollar reached a four-and-a-half-year high against the yen on Wednesday after better-than-expected U.S. retail data, which also boosted Wall Street equities, although Asian shares failed to follow suit.MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.45 per cent edging off Tuesday’s near three-week closing high, with declines in most markets, while Japan’s Nikkei lost 0.4 per cent.The dollar reached a high of 114.97 yen in early Asian hours, its strongest since March 2017, while the euro languished at a 16-month low at $1.1320.The greenback was helped by Tuesday data which showed U.S. retail sales rose faster-than-expected in October, potentially encouraging the U.S. Federal Reserve to accelerate the tapering of its asset purchase programme, as inflation remains stubbornly high.Overnight on Wall Street, the Dow Jones Industrial Average rose 0.15 per cent, the S&P 500 gained 0.39 per cent and the Nasdaq Composite was up 0.76 per cent, supported by the retail sales figures.Back home, foreign institutional investors sold shares worth Rs 561 crore on Tuesday while domestic institutional investors bought shares worth Rs 577 crore.Biocon will be in focus after the company informed exchanges that Biocon Biologics and Viatris launched Interchangeable SEMGLEE (insulin glargine-yfgn) Injection and Insulin Glargine (insulin glargine-yfgn) Injection.Grindwell Norton wil be in focu after the company announced that it has made an investment of Rs 15 lakh in Cleanwin Energy Three LLP towards power purchase.
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