SGX Nifty lost 60 points; here’s what changed for market while you were sleeping

Synopsis

Most Asian markets fell on Thursday as investors remained cautious ahead of the US debt ceiling deadline for the day fearing a possible government shutdown, analysts said.

MSCI’s broader index for Asia-Pacific stocks outside of Japan fell 0.35 percent.

Investors would expect some volatility today with the series derivatives contracts that expire in September. Concerns about a possible US government shutdown and a rising dollar have already clouded sentiment in Asia. A weak rupee and foreign outflows only add to the problems for domestic investors. Here are the pre-trade moves:

 STATUS OF THE MARKETS

 SGX Nifty indicates a negative start Nifty futures on the Singapore Stock Exchange traded 58 points, or 0.33 percent, lower at 17,684, suggesting that Dalal Street was heading off to a negative start Thursday.

 Tech View: Nifty50 formed a small bullish candle on Wednesday’s daily chart. Analysts said that the 13-day Simple Moving Average (SMA) could provide good support for the index going forward.

India VIX: The fear indicator rose 2 percent on Wednesday to 18.84 compared to its closing price of 18.53 on Tuesday.

 Asian stocks fall in early trading

 Most Asian markets fell on Thursday as investors remained cautious ahead of the US debt ceiling deadline later in the day, fearing a possible shutdown from the government, analysts said. MSCI’s broader index for Asia-Pacific stocks outside of Japan fell 0.35 percent.

  • Japan’s Nikkei down 0.06%
  • Australia’s ASX 200 up 1.18%
  • Korea’s Kospi down 0.10%
  • China’s Shanghai up 0.53% to
  • China’s Hang Seng Hong Kong down 1.01%

US stocks ended a shaky day. Wall Street ended Wednesday with a partial rebound from the previous day’s broad sell-off, with remarks from Fed Chairman Jerome Powell and the ongoing debt ceiling debate holding back gains.

  • Dow Jones rose 0.26% to 34,390.72
  • S&P 500 rose 0.16% to 4,359.46 
  • Nasdaq fell 0.24% 14,512.44

$ near annual highs The dollar held near a one-year high against major competitors Thursday after a two-day spike amid expectations that incentives from the Federal Reserve would decline starting in November and a possible rise in interest rates. It will be produced in late 2022.

  • Dollar index rose to 94.336
  • euros stable to 1.1602 US dollars
  • pounds rose to 1.34355 US dollars
  • yen weakened to 111.86 per dollar from
  • yuan unchanged at 6.4710 against the dollar

FPIS sells Net-net shares worth Rs 1,896.0 crore in foreign portfolio Investors (FPI) proposed to sellers of domestic equity at Rs 1,896.02 crore, data available from NSE. DIIs were net buyers of rR 3,262.16 billion, the data suggests.

MONEY MARKETS

The rupee lost 8 countries and closed Wednesday at a more than 1-month low of 74.14 against the dollar.

 10-Year Bond: India’s 10-year bond fell 0.35 percent to 6.21 after trading in the 6.206.22 area.

 call rates: The weighted average nightly rate was 3.19 percent based on RBI data on Wednesday. It was in a range of 1,953.40 percent.

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