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Nifty today: SGX Nifty down 15 points; here’s what changed for market while you were sleeping

Weakness in global equities could see Indian markets extend the losing streak to the 3rd straight session. However, the downside is likely to be limited as bulls continue to hold the strings strong. Positioning in the options of Nifty 50 too, indicate chances of a reversal, as open interest in out-of-the-money call options of Nifty 50 is double of what they are in out-of-the-money put options. They indicate a trading range of 18500-18800 for the index.

Here’s breaking down the pre-market actions:


SGX Nifty signals a muted start
Nifty futures on the Singapore Exchange traded 15 points, or 0.08 per cent, lower at 18,656.50, signaling that Dalal Street was headed for a muted start on Thursday.

  • Tech View: Nifty 50 index has made lower lows in the last four sessions and needs to negate to commence a fresh leg of rally. As long as the index is trading below 18650, the correction is likely to continue.
  • India VIX: Despite selling in the market, the volatility gauge remained steady, indicating that the underlying bias for the market remains positive. The volatility index ended 0.2% higher at 14.0775 points.

US stocks extend losing streaks
The S&P 500 and Nasdaq closed down on Wednesday after a choppy session on Wall Street, as investors struggled to grasp a clear direction as they weighed how the Federal Reserve’s monetary policy tightening might feed through into corporate America.

  • Dow flat
  • S&P down 0.19%
  • Nasdaq falls 0.51%

Asian stocks mixed
Asian equities were mixed on Thursday as growing fears of an economic slowdown and worries over the pace of the Federal Reserve’s interest rate hikes weighed on sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.19%, set to snap a two-day losing streak. China’s stock market was 0.12% higher, with Hong Kong’s Hang Seng Index surging nearly 2%.

Oil prices steady
Oil prices steadied in early Asian trade on Thursday after sinking to their lowest level this year as U.S. production and gasoline inventories ticked up at the same time concerns grew that economic slowdowns would weaken fuel demand. Brent crude futures were up 62 cents or 0.8% at $77.79 per barrel by 0130 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 69 cents or 1% to $72.70 per barrel.

Dollar struggles
The U.S. dollar remained weak on Thursday after sliding against major peers overnight for the first time this week as investors fretted about the potential for recession in the United States.

FII/DII action
Foreign portfolio investors (FPIs) on Wednesday net sold shares worth Rs 1,242 crore, provisional data showed. DIIs net bought shares to the tune of Rs 389 crore.

Stocks in F&O ban today

, , and Gujarat . Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

Rupee: After hitting a 1-month low in the previous session, the rupee rose sharply against the dollar on Wednesday amid dollar sales by exporters. The Indian unit settled at 82.4700 a dollar, compared with 82.61 on Tuesday.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)


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