Nifty today: SGX Nifty down 100 points; here’s what changed for market while you were sleeping – Blue Barrows

Domestic equity markets are likely to extend their losses on Friday on the back of weak global cues. US stocks plunged in overnight trade, while Asian peers were also trading with big cuts. However, a decline in crude oil may cap the downside for Indian stocks. Back home, Harsha Engineers IPO will close for subscription today.

Here’s breaking down the pre-market actions:

STATE OF THE MARKETS

Smart Talk


SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 98.5 points, or 0.55 per cent, lower at 17,780.50, signalling that Dalal Street was headed for a negative start on Thursday.

  • Tech View: The Nifty failed to hold on to 18,000 levels on Thursday and closed with a bearish candle on the daily charts. Even though the index failed to hold on to 18,000, it still managed to close above the crucial support above 17,800, a positive sign for the bulls.
  • India VIX: The fear gauge jumped about a per cent to 18.39 level on Thursday over its close at 18.28 on Wednesday.

Asian stocks open mostly lower
Major Asian stocks opened lower Friday after Wall Street shares slumped, battered again by worrying economic data and concerns about the impact of further aggressive Federal Reserve action next week. MSCI’s index of Asia-Pacific shares outside Japan was trading 0.89 per cent lower.

  • Japan’s Nikkei tumbled 1.09%
  • Australia’s ASX 200 tanked 1.08%
  • New Zealand’s DJ dropped 0.28%
  • South Korea’s Kospi declined 0.55%
  • China’s Shanghai retreated 0.44%
  • Hong Kong’s Hang Seng fell 0.92%

US stocks settle lower
Wall Street ended lower on Thursday, extending its losses in late afternoon trading as a raft of economic data failed to alter the expected course of aggressive tightening by the Federal Reserve amid growing warnings of global recession.

  • Dow Jones dropped 0.56% to 30,961.82
  • S&P 500 plunged 1.13% to 3,901.35
  • Nasdaq tumbled 1.43% at 11,552.36

Dollar holds ground
The dollar eased from multi-year highs on Friday after a strong rally earlier in the week, though expectations that the Federal Reserve would need to hike more to keep inflation in check sent Treasury yields higher and kept the greenback in demand.

  • Dollar index was pinned at 109.61
  • Euro gained up to $1.0008
  • Pound advanced to $1.1474
  • Yen was struggling at 142.96 per dollar
  • Yuan exchanged hands at 7.0182 against the greenback

Oil extends losses
Oil prices dipped in early trade on Friday, extending the week’s losses as concern over tight supply was outweighed by escalating fear of sharp interest rate hikes slamming global growth and hitting fuel demand.

Brent crude futures fell 22 cents, or 0.2 per cent, to $90.62 a barrel as at 0052 GMT. US West Texas Intermediate (WTI) crude futures lost 25 cents, or 0.3 per cent, to $84.85 a barrel.

FIIs sell shares worth Rs 1,271 cr
Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 1270.68 crore, data available with NSE suggested. However, DIIs turned net settlers to the tune of Rs 928.86 crore, data suggests.

Stocks in F&O ban today
Two stocks –

and – are under the F&O ban for Friday, September 16. 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: The rupee declined by 19 paise to close at 79.71 against the US dollar on Thursday, weighed down by a firm American currency and a negative trend in domestic equities.

10-year bonds: India 10-year bond spiked sharply by 1.16 per cent to 7.24 after trading in 7.14 – 7.26 range on Thursday.

Call rates: The overnight call money rate weighted average stood at 5.13 per cent on Wednesday, according to RBI data. It moved in a range of 3.80-5.35 per cent.