STATE OF THE MARKETS
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 131 points, or 0.74 per cent, higher at 17,755 signaling that Dalal Street was headed for a positive start on Tuesday.
- Tech View: The Nifty50 formed a Hammer-like candle on the daily charts, a bullish sign provided we see a follow-through in Tuesday’s session as well. A Hammer is formed after a price decline. It has a small real body and a long lower shadow.
- India VIX: The fear gauge jumped about a per cent to 19.94 level on Monday over its close at 19.82 on Friday.
Asian stocks open mixed
Asian stocks started Tuesday slightly higher after two days of losses and following a positive lead from Wall Street, though traders remain nervous ahead of the Federal Reserve’s interest rate decision later this week. MSCI’s index of Asia-Pacific shares outside Japan was trading 0.73 per cent lower.
- Japan’s Nikkei gained 0.35%
- Australia’s ASX 200 jumped 0.94%
- New Zealand’s DJ advanced 0.42%
- South Korea’s Kospi surged 0.46%
- China’s Shanghai rallied 0.44%
- Hong Kong’s Hang Seng added 0.96%
Wall street settles higher
Wall Street’s main indexes ended a seesaw session higher on Monday, as investors turned their attention to this week’s policy meeting at the Federal Reserve and how aggressively it will hike interest rates.
- Dow Jones gained 0.64% to 31,019.68
- S&P 500 advanced 0.69% to 3,899.89
- Nasdaq jumped 0.76% at 11,535.02
Dollar firm ahead of Fed meet
The dollar remained firm below a two-decade high versus major peers on Tuesday, as investors braced for the Federal Reserve to continue its aggressive interest-rate-hiking campaign to rein in overheated inflation.
- Dollar index was pinned at 109.53
- Euro was little changed at $1.0030
- Pound was trading flat at $1.14295
- Yen was struggling at 142.96 per dollar
- Yuan exchanged hands at 7.0134 against the greenback
Oil prices hold steady
Oil prices were little changed on Tuesday, after rising in the previous session, on concerns that interest rate hikes in the United States to tame inflation will curb economic growth and fuel demand in the world’s biggest crude consumer.
Brent crude futures for November settlement fell 7 cents, or 0.1 per cent, to $91.93 a barrel by 0136 GMT. US West Texas Intermediate crude for October delivery was at $85.59 a barrel, down 14 cents, or 0.2 per cent.
FIIs buy shares worth Rs 312 cr
Net-net, foreign portfolio investors (FPIs) turned buyers of domestic stocks to the tune of Rs 312.31 crore, data available with NSE suggested. However, DIIs turned net setters to the tune of Rs 94.68 crore, data suggests.
Stocks in F&O ban today
Six stocks –
, Escort Kubota, , , PVR and – are under the F&O ban for Tuesday, September 20. 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.
Rupee: The rupee pared its initial gains and settled 3 paise lower at 79.81 against the US dollar on Monday, weighed down by the strength of the greenback in the overseas market.
10-year bonds: India 10-year bond gained 0.15 per cent to 7.27 after trading in 7.23 – 7.28 range on Monday.