Nifty today: SGX Nifty down 70 points; here’s what changed for market while you were sleeping – Blue Barrows

Domestic equity markets are likely to open lower on Friday amid weak cues from global and other Asian markets. Wall Street ended in the red overnight, falling for the third straight day amid Fed’s aggressive stance. Major Asian markets were also trading on a tepid note.

Here’s breaking down the pre-market actions:

STATE OF THE MARKETS


SGX Nifty signals negative start
Nifty futures on the Singapore Exchange traded 68 points, or 0.39 per cent, lower at 17,571, signaling that Dalal Street was headed for a negative start on Friday.

  • Tech View: The index closed above 17600 for the fourth consecutive day in a row despite intraday volatility. If the index fails to hold on to Thursday’s support of 17,532 then the next support is placed at 17500-17430 levels, suggest experts.

  • India VIX: The fear gauge dropped 2.64 per cent to 18.81 level on Thursday.

Asian markets down for 4th day
Asian stocks limped toward a fourth straight weekly decline on Friday and bonds nursed big losses as investors scrambled to catch up with the U.S. Federal Reserve’s interest rate outlook, while currency markets were on edge at the end of a wild week.

Oil prices rise as Iran deal stalls
Oil prices rose in early Asian trade on Friday on the prospect that a stalled Iran nuclear agreement and Moscow’s new mobilization campaign in its invasion of Ukraine would further restrict global supplies. Brent crude futures gained 16 cents, or 0.2%, to $90.62 per barrel by 0020 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 22 cents to $83.71 per barrel.

Wall Street ends down for third day
Nine of the 11 major S&P sectors fell, led by declines of 2.2% and 1.7%, respectively, in consumer discretionary and financial stocks. The Dow Jones Industrial Average fell 107.1 points, or 0.35%, to 30,076.68, the S&P 500 lost 31.94 points, or 0.84%, to 3,757.99 and the Nasdaq Composite dropped 153.39 points, or 1.37%, to 11,066.81.

FPIs sell equities worth Rs 2,509 crore
Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 2,509.55 crore, data available with NSE suggested. DIIs were buyers to the tune of Rs 263 crore, data suggests.