Nifty today: SGX Nifty down 50 points; here’s what changed for the market while you were sleeping
SGX Nifty reports a negative start
Astute futures on the Singapore Stock Exchange traded 52.5 points or 0.29% lower at 18,248, signaling that Dalal Street was heading for a negative start on Friday.
- Technical view: Nifty50 on Thursday traded within a narrow range of 108 points for another session and closed where it opened, forming an indecisive Doji candle on the daily chart. The bulls are showing signs of fatigue and given the overbought situation, it’s time to be cautious, analysts said.
- India VIX: The fear indicator was down about 3% to the 16.70 level on Thursday from its close at 17.18 on Wednesday.
Asian stocks in red
Asian stocks opened lower after US tech stocks plunged on higher interest rate expectations. The MSCI Asia-Pacific ex-Japan equity index fell 0.86%.
- The Japanese Nikkei fell 2.02%
- The South Korean Kospi fell 1.44%
- Australia’s ASX 200 lost 1.14%
- Shanghai in China fell 0.34%
- Hong Kong’s Hang Seng loses 0.59%
Wall Street ends down sharply
Wall Street’s major indexes closed lower on Thursday, with the Nasdaq’s 2.5% drop driving the losses as investors took profits, particularly in tech stocks after a three-day rally, while several industry officials the Federal Reserve were talking about inflation and interest rate hikes.
- The Dow Jones fell 0.49% to 36,113.62
- The S&P 500 fell 1.42% to 4,659.03
- The Nasdaq plunged 2.51% to 14,806.81
The dollar is heading for a weekly loss
The dollar headed for its biggest weekly decline in eight months as investors trimmed their long positions and felt, for now, that several rate hikes in the US this year are fully priced in.
- The dollar index fell to 94.849
- The euro rose to $1.1457
- The pound was at $1.3707
- The yen jumped to 114.13 per dollar
- The yuan traded hands at 6.3608 against the greenback
Oil eases as investors watch US oil release
Oil prices fell for a second session on Friday on growing worries that Washington could soon act to cool prices, while movement controls in China to curb a COVID-19 outbreak weighed on fuel demand. . Brent crude futures fell 30 cents, or 0.4%, to $84.17 a barrel. U.S. West Texas Intermediate crude fell 45 cents, or 0.6%, to $81.67.
REITs sell shares worth Rs 1,391 cr
Net-net, Foreign Portfolio Investors (REITs) turned domestic stock sellers to the tune of Rs 1,390.85 crore, according to data available with NSE. DIIs became net buyers to the tune of Rs 1,065.32 crore, according to the data.
Third quarter results
HCL Technologies, Tinplate Company of India, Onward Technologies, Swasti Vinayaka Synthetics, Indokem, International Travel House and Gujarat Hotels are among the companies to announce their December quarter results today.
Rupee: Strengthening for the fifth consecutive session, the rupee climbed 3 paise to close at 73.90 against the US dollar on Thursday, following a weak greenback overseas.
10-year bonds: India’s 10-year bond fell 0.49% to 6.56 after trading in the 6.56-6.60 range on Thursday.
Call rates: The weighted average overnight money rate stood at 3.33% on Thursday, according to RBI data. It evolved in a range of 2.10 to 3.55%.