Nifty today: SGX Nifty up 180 points; here’s what changed for market while you were sleeping

After a sharp beat-down, Indian benchmark indices are set to open in the green, tracking cues from global peers. Asian stocks posted a strong start following hefty gains in US stocks during the overnight trade on the dip in bond yields. However, a firm US dollar is likely to dent sentiments. Back home, the expiry of September series derivatives may add to the volatility. Here’s breaking down the pre-market actions:

STATE OF THE MARKETS


SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 179.5 points, or 1.06 per cent, higher at 17,066, signaling that Dalal Street was headed for a positive start on Thursday.

• Tech View: The Nifty50 not only failed to protect the 17,000 mark but also slipped below its 200-DMA to end 149 points lower near the 16,850 mark on Wednesday. The index formed a small bodied bearish candle on the daily scale with a long upper shadow, indicating pressure at higher zones.
• India VIX: The fear gauge jumped more than 2 per cent, to 22.09 level on Wednesday over its close at 21.56 on Tuesday.

Asian stocks open higher
Asian stocks opened higher on Thursday extending gains on Wall Street, where investors were reassured by the Bank of England’s intervention that helped push bond yields lower. MSCI’s index of Asia-Pacific shares outside Japan was trading 1.30 per cent higher.

• Japan’s Nikkei jumped 0.79%
• Australia’s ASX 200 surged 1.65%
• New Zealand’s DJ gained 1.05%
• South Korea’s Kospi rallied 1.54%
• China’s Shanghai advanced 1.03%
• Hong Kong’s Hang Seng added 1.51%

US stocks end with big gains
Wall Street ended sharply higher on Wednesday following its recent sell-off, helped by falling Treasury yields. Stocks rallied to their first gain in more than a week, as some calm returned to markets around the world Wednesday.

• Dow Jones surged 1.88% to 29,683.74
• S&P 500 rallied 1.97% to 3,719.04
• Nasdaq jumped 2.05% at 11,051.64

Sterling slips back with euro
Sterling retreated again on Thursday from a sharp bounce against the dollar overnight, after the Bank of England announced unlimited bond purchases to shore up Britain’s financial markets battered by the government’s radical plans to cut taxes.

• Dollar index moved higher to 113.11
• Euro edged southwards to $0.97065
• Pound dropped lower to $1.0831
• Yen was struggling at 144.43 per dollar
• Yuan exchanged hands at 7.1814 against the greenback

Oil prices drop
Oil prices fell in early Asian trade on Thursday as a strong dollar and economic woes outweighed optimism over consumer demand.

Brent crude futures fell 59 cents, or 0.7 per cent, to $88.73 per barrel by 0016 GMT while US crude futures fell by 54 cents, or 0.7per cent, to $81.59. Both benchmarks rebounded in the prior two sessions amid volatile trade.

FIIs sell shares worth Rs 2,772 cr
Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 2,772.49 crore, data available with NSE suggested. However, DIIs turned net buyers to the tune of Rs 2,544.17 crore, data suggests.

Stocks in F&O ban today
Only one stock –

– is under the F&O ban for Thursday, September 29. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 per cent of the market-wide position limit.

MONEY MARKETS

Rupee: The rupee plunged below the 82 mark for the first time in day trade before settling down by 40 paise at 81.93 against the US dollar on Wednesday due to heavy forex outflows amid strengthening US treasury yields.

10-year bonds: India 10-year bond jumped 0.56 per cent to 7.33 after trading in 7.32 – 7.35 range on Wednesday.

Call rates: The overnight call money rate weighted average stood at 5.44 per cent on Tuesday, according to RBI data. It moved in a range of 3.80-5.75 per cent.