Here’s breaking down the pre-market actions:
STATE OF THE MARKETS
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 93 points, or 0.54 per cent, per cent higher at 17,432, signalling that Dalal Street was headed for a positive start on Thursday.
- Tech View: The Headline index Nifty on Tuesday formed a long bullish candle on the daily charts as it ended with a gain of 387 points. The index has been forming higher bottoms for the last two sessions, indicating the continuation of the uptrend in the near future.
- India VIX: The fear gauge plunged sharply over 8 per cent to 19.57 level on Tuesday over its close at 21.36 on Monday.
Asian shares open mixed
Major Asian shares opened higher, before turning mixed, on Thursday, bucking the trend after Wall Street faltered on profit-taking as recent global rallies fizzled out. MSCI’s index of Asia-Pacific shares outside Japan was trading 0.19 per cent higher.
- Japan’s Nikkei advanced 0.90%
- Australia’s ASX 200 shed 0.13%
- New Zealand’s DJ dropped 0.70%
- South Korea’s Kospi rallied 1.18%
- China’s Shanghai decelined 0.55%
- Hong Kong’s Hang Seng fell 0.50%
US stocks settle lower
Wall Street stocks closed lower on Wednesday, unable to sustain a late-day surge, after data showed US labor demand remained strong and as Federal Reserve officials stuck to their hawkish message that interest rates will stay higher for longer.
- Dow Jones shed 0.14% to 30,273.87
- S&P 500 declined 0.20% to 3,783.28
- Nasdaq dropped 0.25% at 11,148.64
Dollar clings to gains
The dollar fought for a footing in choppy trade on Thursday, with support from upbeat US data and hawkish policymaker comments, while the prospect of higher energy prices helped exporters’ currencies and weighed on those of importers.
- Dollar index wobbled near 110.86
- Euro was little changed to $0.9916
- Pound was just below $1.15
- Yen was struggling at 144.57 per dollar
- Yuan exchanged hands at 7.1160 against the greenback
Oil prices rise
Oil prices edged up in early Asian trade on Thursday after OPEC+ agreed to further tighten global crude supply with a deal to slash oil production by about 2 million barrel per day. The agreement between the Organization of Petroleum Exporting Countries and allies including Russia, a group known as OPEC+, would squeeze supplies.
Brent crude futures rose 46 cents, or 0.5 per cent, to $93.83 per barrel by 0027 GMT, while US West Texas Intermediate (WTI) crude futures were up 45, or 0.5 per cent, cents at $88.21 per barrel.
FIIs buy shares worth Rs 1,345 cr
Net-net, foreign portfolio investors (FPIs) turned buyers of domestic stocks to the tune of Rs 1,344.63 crore, data available with NSE suggested. However, DIIs turned net buyers to the tune of Rs 945.92 crore, data suggests.
Stocks in F&O ban today
No stocks are under the F&O ban for Thursday, October 6. 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 appreciated by 20 paise to end at 81.62 against the US dollar on Tuesday as heavy buying in domestic equities and weakness in the greenback strengthened investor sentiment.
10-year bonds: India 10-year bond tanked sharply by 1.42 per cent to 7.36 after trading in 7.36 – 7.45 range on Tuesday.
Call rates: The overnight call money rate weighted average stood at 5.77 per cent on Tuesday, according to RBI data. It moved in a range of 4.10-5.85 per cent.