Nifty today: SGX Nifty up 195 points; here’s what changed for the market while you were sleeping

Domestic stock markets are set to see an early gap on Thursday, following an overnight rally in US equities after the long-awaited print of US inflation eased in June from a 40-year high, raising hopes that the US Fed will slow its rate hikes. Here are the pre-marketing actions:

STATE OF THE MARKETS


SGX Nifty gets off to a great start
Nifty futures on the Singapore Stock Exchange traded 194 points, or 1.11%, at 17,740.50, signaling Dalal Street was heading for a strong start on Thursday.

  • Technical view: Nifty50 Wednesday ended nearly flat but remained above its 200-day simple moving average for the eighth day in a row. The index formed a Hanging Man candle on the daily chart but there were no signs of weakness, analysts said, who see good support for the index near the 17,350 level.
  • India VIX: The Fear Gauge rose 1.47% to the level of 19.59 on Wednesday from the previous day’s close at 7:30 p.m.

Asian markets up in early trade
Asian stocks rose at the open on Thursday after a slowdown in US inflation boosted hopes that the Federal Reserve will ease its pace of raising interest rates. The annual consumer price index in the United States fell to 8.5% in July, from a 40-year high of 9.1% the previous month, the Labor Department reported, while the monthly rate remained unchanged – a big surprise.

  • Hang Seng jumped 1.26%
  • Seoul’s Kospi climbed 1.41%
  • Australia’s ASX 200 added 0.92%
  • Shanghai Composite rose 0.43%

US stocks stabilized higher
Wall Street surged on Wednesday, putting the Nasdaq more than 20% above its June low, after US inflation slowed more than expected in July and raised hopes the Federal Reserve will become less aggressive in raising interest rates.

  • The Dow Jones jumped 1.63% to 33,309.51
  • The S&P500 gained 2.13% to 4,210.24
  • The Nasdaq added 2.89% to 12,854.81.

First quarter results today
Apollo Hospitals Enterprise, , , Bharat Forge, , , , and are among the companies to announce their June quarter results today.

REITs buy shares worth Rs 1,062 crore
Net-net, Foreign Portfolio Investors (REITs) have become buyers of domestic shares to the tune of Rs 1,061.88 crore, according to data available with NSE. DIIs were sellers at Rs 768.45 crore, according to the data.

Oil drop on demand concerns
Oil prices fell at the start of Asian trading on Thursday, as traders anticipated an increase in the supply of crude entering the market, coupled with weaker demand. Brent crude futures fell 53 cents, or 0.5%, to $96.87 a barrel, while US West Texas Intermediate crude futures fell 61 cents, or 0, 7%, to $91.32.

F&O stocks are banned today
two actions

and are under the F&O ban for Thursday August 11. Blackout securities under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

MONEY MARKETS

Rupee: The rupee rebounded 38 paise on Wednesday to close at 79.25 against the US currency on inflows of foreign funds and weakness in the greenback in global markets.

10-year bonds: India’s 10-year bond yield fell 0.52% to 7.31 after trading in the 7.307-7.366 range.

(Disclaimer: The recommendations, suggestions, views and opinions given by the experts belong to them. These do not represent the views of Economic Times)

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