July5 , 2022

Nifty today: SGX Nifty down 20 points; here’s what changed for market while you were sleeping

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Domestic equity markets are set to open on a muted note on Wednesday, tracking weakness in Asian peers. However, US Stocks resumed trading after an extended weekend with strong gains. Crude oil prices slipped, whereas the firm dollar weighed on the sentiments. Traders, across the globe, are awaiting the testimony of the US Fed chair Jerome Powell before the congress. Here’s breaking down the pre-market actions:

STATE OF THE MARKETS


SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 17.5 points, or 0.11 per cent, lower at 15,605, signalling that Dalal Street was headed for a negative start on Wednesday

  • Tech View: Nifty50 on Tuesday climbed nearly 2 per cent and formed a bullish candle on the daily chart. The index was stuck in a range of 15,200-15,400 for the last couple of sessions. But Tuesday’s gap up opening helped the index surpass the hurdle and has entered the resistance zone of 15,670-15,700.
  • India VIX: The fear gauge declined sharply by about 6 per cent to 21.14 level on Tuesday over its close at 22.41 on Monday.

Asian shares open mostly lower
Asian shares opened mostly lower in opening business Wednesday after a three-day run-up, with concerns about soaring inflation and rising interest rates ramping up fears of a potential recession. MSCI’s index of Asia-Pacific shares outside Japan was down by 0.76 per cent.

  • Japan’s Nikkei dropped 0.13%
  • Australia’s ASX 200 gained 0.10%
  • New Zealand’s DJ jumped 0.57%
  • South Korea’s Kospi plunged 1.72%
  • China’s Shanghai shed 0.15%
  • Hong Kong’s Hang Seng fell 0.56%

US stocks settled with gains
After bruising losses last week, Wall Street stocks bounced Tuesday starting a holiday-shortened week on a positive note as investors debated whether the rally could signify a market comeback.

  • Dow Jones rallied 2.15% to 30,530.25
  • S&P 500 gained 2.45% to 3,764.79
  • Nasdaq zoomed 2.51% to 11,069.30

Yen bruised badly
The yen hit a fresh 24-year low against the dollar on Wednesday, having taken another tumble overnight as US bond yields continued to rise, in stark contrast to Japan’s stubbornly low interest rates.

  • Dollar index pinned at 104.41
  • Euro ticked up to $1.053
  • Pound climbed to $1.2257
  • Yen was struggled at 136.4 per dollar
  • Yuan exchanged hands at 6.6895 against the greenback

Oil prices slide
Oil prices skidded in early trade on Wednesday amid a push by US President Joe Biden to bring down soaring fuel costs, including pressure on major US firms to help ease the pain for drivers during the country’s peak summer demand.

US West Texas Intermediate (WTI) crude futures fell $1.34, or 1.2 per cent, to $108.18 a barrel at 0031 GMT, while Brent crude futures dropped $1.33, or 1.2 per cent, to $113.32 a barrel.

FIIs sell shares worth Rs 2,701 cr
Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 2701.21 crore, data available with NSE suggested. However, DIIs remained net buyers to the tune of Rs 3,066.41 crore, data suggests.

Stocks in F&O ban today
Two stocks –

and – remain under the F&O ban for Wednesday, June 22. 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: Snapping its three-day rising streak, the rupee declined 15 paise to close at 78.13 against the US dollar on Tuesday as

foreign fund outflows and a jump in crude oil prices weighed on investor sentiment.

10-year bonds: India 10-year bond spiked by 0.74 per cent to 7.48 after trading in 7.45 – 7.48 range on Tuesday.

Call rates: The overnight call money rate weighted average stood at 4.58 per cent on Monday, according to RBI data. It moved in a range of 2.30-4.80 per cent.



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