Nifty today: SGX Nifty down 80 points; here’s what changed for market while you were sleeping – Blue Barrows

Domestic equity markets are set for a negative opening on Wednesday ahead of the US Federal Reserve’s policy meeting outcome. The sentiments remained muted across the globe as Asian peers were trading with big cuts during the early hours, whereas US stocks settled in the red during overnight trade. Here’s breaking down the pre-market actions:

STATE OF THE MARKETS


SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 83 points, or 0.47 per cent, lower at 17,712, signaling that Dalal Street was headed for a negative start on Wednesday.

  • Tech View: Nifty formed a small-bodied bullish candle with a long upper shadow on the daily scale, indicating buying interest from lows, but an absence of follow-up activity is seen at higher zones.
  • India VIX: The fear gauge slumped about 6 per cent to 18.80 level on Tuesday over its close at 19.94 on Monday.

Asian stocks drop at open
Asian stocks opened lower Wednesday, extending falls on Wall Street ahead of a Federal Reserve meeting widely expected to produce a three-quarter-point interest rate hike. MSCI’s index of Asia-Pacific shares outside Japan was trading 1.03 per cent lower.

  • Japan’s Nikkei tumbled 1.35%
  • Australia’s ASX 200 tanked 1.34%
  • New Zealand’s DJ dropped 0.84%
  • South Korea’s Kospi plunged 0.91%
  • China’s Shanghai retreated 0.62%
  • Hong Kong’s Hang Seng fell 1.33%

US stocks settle lower
Wall Street ended Tuesday lower as the eve of a US Federal Reserve meeting expected to bring another large interest rate hike brought further evidence of the impact on corporate America from the inflation that the US central bank wants to tame.

  • Dow Jones tanked 1.01% to 30,706.23
  • S&P 500 plunged 0.69% to 3,855.93
  • Nasdaq tumbled 0.95% at 11,425.05

Dollar continues to remain firm
The dollar hovered near a two-decade peak against a basket of currencies on Wednesday, after yields on US Treasuries leaped ahead of an interest rate decision that is likely to set the tone in financial markets for months to come.

  • Dollar index was pinned at 110.17
  • Euro edged lower to $0.9967
  • Pound was trading flat at $1.1381
  • Yen was struggling at 143.56 per dollar
  • Yuan exchanged hands at 7.0186 against the greenback

Oil prices hold steady
Oil prices slid on Wednesday, extending the previous day’s losses, as investors braced for another aggressive interest rate hike from the U.S. Federal Reserve that they fear could lead to recession and plunging fuel demand.

Brent crude futures dropped 26 cents, or 0.3 per cent, to $90.36 a barrel by 0040 GMT after falling $1.38 the previous day. US West Texas Intermediate crude was at $83.74 a barrel, down 20 cents, or 0.2 per cent.

FIIs buy shares worth Rs 1196 cr
Net-net, foreign portfolio investors (FPIs) turned buyers of domestic stocks to the tune of Rs 1196.19 crore, data available with NSE suggested. However, DIIs also turned net buyers to the tune of Rs 131.94 crore, data suggests.

Stocks in F&O ban today
Five stocks –

, Escort Kubota, , PVR and – are under the F&O ban for Wednesday. September 21. 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 consolidated in a narrow range and settled 7 paise higher at 79.74 against the US dollar on Tuesday, snapping its four-session falling streak as investors await the US Fed’s policy statement for further cues.

10-year bonds: India 10-year bond jumped 0.23 per cent to 7.29 after trading in 7.27 – 7.30 range on Tuesday.

Call rates: The overnight call money rate weighted average stood at 5.38 per cent on Monday, according to RBI data. It moved in a range of 4.00-5.80 per cent.