STATE OF THE MARKETS
SGX Nifty signals negative start
Nifty futures on the Singapore Exchange traded 140.5 points, or 0.87 per cent, lower at 16,027, signaling that Dalal Street was headed for a negative start on Thursday.
- Tech View: Nifty50 on Thursday fell for the fourth straight session and formed a Hammer-like candle on the daily chart that had a long lower wick, reflecting the intraday recovery. Such a candle has a bullish connotation if it is followed by a positive close in the next session, said analysts, who see immediate resistance in the 16,20-350 range and index support at 16,000.
- India VIX: The fear gauge jumped more than 2 per cent to 22.80 level on Wednesday over its close at 22.30 on Tuesday.
Asian shares trade lower
Asian stocks fell in early trade Thursday after overnight drops on Wall Street as investors fret over inflation and looming recession. MSCI’s index of Asia-Pacific shares outside Japan was down 0.92 per cent.
- Japan’s Nikkei dropped 0.92%
- Australia’s ASX 200 tanked 0.56%
- South Korea’s Kospi tumbled 0.34%
- New Zealand’s DJ plunged 1.55%
- China’s Shanghai shed 0.02%
US stocks settle lower
Wall Street stocks closed sharply lower and Treasury yields fell in Wednesday’s volatile session as oil prices rallied and investors worried about the potential for an economic slowdown. Wall Street has been transfixed on the nation’s high inflation.
- Dow Jones tanked 1.02% to 31,834.11
- S&P 500 tumbled 1.65% to 3,935.18
- Nasdaq plunged 3.18% to 11,364.24
US dollar stronger, commodity currencies hit
The dollar moved higher on a strong footing, buttressed by various reasons. Falling commodity prices dragged the Australian and Canadian currencies lower on Tuesday, although the dollar was steady against most other majors while bitcoin continued to tumble.
- Dollar index was pinned at 103.7
- Euro was dropped to $1.0561
- Pound ticked lower to $1.2329
- Yen struggled at 131.34 per dollar
- Yuan exchanged hands at 6.7306 against the greenback
Oil prices ease
Oil prices eased in early Asian trade on Thursday, taking a pause after rising more than 5% in the previous session following new Russian sanctions on some European gas companies. Brent crude futures fell 9 cents to $107.42 a barrel. WTI crude futures fell 13 cents to $105.58 a barrel.
FIIs sell shares worth Rs 3,609 cr
Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 3,609.35 crore, data available with NSE suggested. DIIs turned net buyers to the tune of Rs 4,181.2 crore, data suggests.
Q4 earnings today
Larsen & Toubro,
, , India, Tube Investment of India, , , , , Credit Access Grameen, , , Anupam Rasayan and are among the companies which will announce their earnings today.
Stocks in F&O ban today
Only one stock-
Housing Finance- is under the F&O ban for Thursday. 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.
Rupee: Rising for a second straight day, the rupee rose by 9 paise to settle at 77.25 against the US currency in a range-bound trade on Wednesday as the dollar retreated from its 20-year high levels and bond yields eased to below 3 per cent mark.
10-year bonds: India 10-year bond tumbled by 1.18 per cent to 7.21 after trading in 7.20 – 7.33 range on Wednesday.
Call rates: The overnight call money rate weighted average stood at 4.09 per cent on Wednesday, according to RBI data. It moved in a range of 2.30-4.35 per cent.