SGX Nifty fell by 35 points; this is how the market changes while you sleep

Synopsis

As the world market tried to digest the crisis of the Chinese real estate giant Evergrande, most Asian stock markets opened lower on Wednesday. Markets in South Korea and Hong Kong are closed. The MSCI Asia Pacific’s broadest index outside of Japan fell 0.30%.

As Asian market sentiment remains cautious before the results of the Fed’s two-day monetary policy meeting, the domestic stock market may open flat to negative on Wednesday. The performance of U.S. stocks was mixed overnight. The appreciation of the U.S. dollar and soaring crude oil prices may put pressure on the stock market. The following is a breakdown of pre-market promotions:

MARKET CONDITIONS

SGX Nifty signal began to be unfavorable. Singapore Exchange

 Nifty futures fell 34 points, or 0.19%, to close at 17,527.50, indicating that Dalal Street had an unfavorable start on Wednesday.

 Technical view: The bullish hammer candle of Nifty50 on the daily chart is encouraging, but some technical indicators are still negative, indicating that the index may be vulnerable to selling.

 India VIX: Compared with Monday’s closing price of 17.49, the fear indicator fell 6% to 16.52 on Tuesday. 4,444 Asian stock markets tend to fall. Most Asian stock markets opened lower on Wednesday as the world market tried to digest the crisis of the Chinese real estate giant Evergrande. Markets in South Korea and Hong Kong are closed. The MSCI Asia Pacific’s broadest index outside of Japan fell 0.30%.

Markets in South Korea and Hong Kong are closed. The MSCI Asia Pacific’s broadest index outside of Japan fell 0.30%.

 Japan’s Nikkei Index fell 0.06%

 Australia ASX 200 Index fell 0.49%

 New Zealand DJ Index fell 0.39%

 China Shanghai Index fell 0.73%

U.S. stocks closed flat overnight. After a large-scale sell-off of 4,444 U.S. stocks in the previous trading day, the market closed almost flat on Tuesday. Concerns about the developer China Evergrande and the cautiousness of Wednesday’s Fed news brought the market under control.

 Dow Jones Index fell 0.15% to 33,919.84

 S&P 500 Index fell 0.08% to 4,354.19

 Nasdaq Index rose 0.22% to 14,746.40 to

 USD A one-month high of 44 US dollars, as investors are concerned about 44 major risks, the Chinese real estate developer Evergrande defaults and the US currency tightening pace is expected.

• The US dollar index rose to 93.226

 euros and held steady at 1.1725 US dollars.

•The British pound fell to 1.3675 US dollars,

 yen rose to 109.165

 yuan against the US dollar, unchanged at 6.4662

 oil increased overnight gains

 Wednesday, oil prices rose about 1%,

 data showed that the decline in US crude oil inventories expanded overnight 444 gains, just as the industry last week As expected after the two hurricanes, supply is tight and demand is rising. US WTI crude oil futures rose 75 cents, or 1.1%, to US$71.24 per barrel. Brent crude oil futures rose 68 cents, or 0.9%, to $75.04 per barrel.

FPI purchased shares worth 10,420 crore rupees. The data shows that the net sellers of DII are 2,167.762 million.

 MONEY MARKETS

 rupee: Due to the strong rise in domestic stock markets and the weakening of the US dollar before the Federal Reserve announced the results, the rupee exchange rate rebounded by 13 paises on Tuesday, closing at 73.61 against the US dollar.

 10-year government bonds: India’s 10-year government bonds fell 0.26% to 6.12 after trading in the 6.11-6.14 range.

 Call rate: According to data from the Reserve Bank of India, the weighted average of Tuesday’s overnight rate is 3.21%. It is in the range of 1.953.40%.

View Date/Event

 CN Loan Prime Rate 1Y (7:00 am)

 AU RBA Bullock Speech (7:00 am)

 JP BOJ Interest Rate Decision (8:30 am)

 EA ECB Non-Monetary Policy Conference (1: 30 pm)

 US MBA 30 Year Mortgage Rate 17 / SEP (4:30 PM

 PM)

 EA Consumer Confidence Flash SEP (7:30 PM)

 US Existing Home Sales AUG (7:30 PM)

 US EIA Crude Oil Stock Change 17 / SEP (August) afternoon)

 Federal Open Market Committee economic forecast (11:30 pm)

 US Federal Reserve interest rate decision (11:30 pm)

Macros

 Inflation is a red flag for FMCG cos. Some of the largest fast-moving consumer goods (FMCG) companies in India have cited the increase in product prices due to high input, raw material and fuel costs as their biggest concern before the upcoming holidays. As the economy recovers from a devastating second wave of pandemics, this may dampen demand.

 MNC Guns Pending SC tax claims ruling as many as 19 Indian multinational gun companies stand in the Supreme Court to make the final decision on whether to tax most of the “Advertising, Marketing and Promotion” (AMP) considered by the Indian tax authorities on behalf of these companies Overseas parent company for brand promotion.

Real estate companies are excited about the holidays. Real estate developers expect that several leading banks and mortgage lenders will reduce housing loan interest rates during the holidays to convert real estate demand into sales.

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