Nifty today: SGX Nifty up 35 points; here’s what changed for market while you were sleeping
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 36 points, or 0.20 per cent, higher at 18,413.50, signaling that Dalal Street was headed for a positive start on Tuesday.
- Tech View: Nifty 50 on Monday formed a bearish candle on the daily charts, indicating indecisiveness between the bulls and bears. The index has to hold above 18300 for an upmove towards 18500-18600 levels.
- India VIX: Profit booking in shares after Friday’s strong upmove pushed the volatility gauge higher in trade on Monday. The index ended 3.5% higher at 14.9100 points.
Wall Street ends lower
Wall Street’s main indexes ended lower on Monday, with real estate and discretionary sectors leading broad declines, as investors digested comments from U.S. Federal Reserve officials about plans for interest rate hikes and looked for next catalysts after last week’s big stock market rally.
- Dow dips 0.63%
- S&P 500 slips 0.89%,
- Nasdaq down 1.12%
Asian stocks eke out gains
Asian stocks opened slightly higher Tuesday amid fragile sentiment following a choppy session on Wall Street and ahead of a slew of Chinese economic data.
- S&P 500 futures rose 0.2% as of 9:07 a.m. in Tokyo. The S&P 500 fell 0.9%
- Nasdaq 100 futures rose 0.3%. The Nasdaq 100 fell 1%
- Japan’s Topix index rose 0.2%
- South Korea’s Kospi index rose 0.3%
- Australia’s S&P/ASX 200 Index fell 0.2%
- Hong Kong’s Hang Seng futures rose 0.5%
Dollar rebounds
The U.S. dollar climbed versus the yen and stayed firm against other major peers on Tuesday as more Federal Reserve officials made the case for even tighter U.S. monetary policy.
- Sterling declined 0.08% to $1.1750
- The euro was little changed at $1.03215
- Australian dollar eased 0.13% to $0.66935
- Chinese yuan was little changed at 7.0461 per dollar
Oil prices slip on OPEC cut in demand forecast, China COVID cases
Oil prices extended losses in early Asian trade on Tuesday after OPEC cut its 2022 global demand forecast, while rising COVID-19 case numbers in China clouded the outlook for fuel consumption in the world’s top crude importing nation.
Brent crude futures fell 39 cents, or 0.4%, to $92.75 a barrel by 0133 GMT after settling down 3% on Monday. U.S. West Texas Intermediate crude was at $85.31 a barrel, down 56 cents, or 0.7%, after tumbling 3.5% in the previous session.
FII/DII action
Foreign portfolio investors (FPIs) net bought stocks worth Rs 1,089.4 crore on Monday, provisional data showed. DIIs bought shares to the tune of Rs 47.2 crore.
Rupee: The Indian unit ended sharply lower against the dollar on Monday after rising the most in four years in the previous session. The rupee settled at 81.2600 a dollar, against 80.7950 in the previous session.
MACRO NEWS
- India’s consumer price inflation eased to a three-month low of 6.77% in October from 7.41% in September. This was mainly due to the statistical effect of a high base.
- The Organization of Petroleum Exporting Countries (OPEC) has cut its projection for global oil demand growth by 100,000 bpd for both 2022 and 2023 from its previous estimate.
Earnings Tuesday
13 companies are scheduled to report earnings for the quarter ended September.
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