Nifty today: SGX Nifty up 80 points; here’s what changed for the market while you were sleeping
STATE OF THE MARKETS
SGX Nifty reports positive start
Nifty futures on the Singapore Stock Exchange traded 80 points, or 0.48%, at 16,919, signaling Dalal Street was heading for a positive start on Tuesday.
- Technical view: Nifty50 on Monday broke over 3% and closed below the 16,850 level. The index formed a bearish candle on the daily chart and at the day’s low it was close to its 200-day moving average. . Analysts said the bears are in charge and any further upside would be vulnerable to selling.
- India VIX: The Fear Gauge climbed more than 23% to the 22.98 level on Monday when it closed at 18.68 on Friday.
Asian stocks trade mixed
Asian stocks traded with mixed indices on Tuesday as investors feared Russia was invading Ukraine and worried about US monetary tightening. The MSCI Asia-Pacific ex-Japan equity index rose 0.11%.
- The Japanese Nikkei fell 0.26%
- South Korea’s Kospi added 0.03%
- Australia’s ASX 200 fell 0.29%
- Shanghai in China advanced 0.38%
- Hong Kong’s Hang Seng fell 0.07%
Wall Street ends lower
The S&P 500 index closed slightly lower on Monday, largely recovering from a sharp sell-off, as US plans to close its Kiev embassy in Ukraine boiled over simmering geopolitical tensions.
- The Dow Jones fell 0.49% to 34,566.17
- The S&P 500 fell 0.38% to 4,401.67
- Nasdaq slightly lower at 13,790.92
Tensions in Ukraine and talk of Fed hike dampen euro
Tensions in Eastern Europe weighed on the euro on Tuesday and pushed demand for the safe-haven dollar and yen, while the greenback was also helped by the debate over US interest rate hikes more aggressive.
- The dollar index was moved up to 96.244
- The euro retreated to $1.1308
- The pound stood at $1.3536
- The yen climbed to 115.33 per dollar
- The yuan traded hands at 6.3533 against the greenback
Oil falls on profit taking
Oil prices fell on Tuesday as investors took advantage of the previous day’s rally to hit seven-year highs and global stock markets tumbled, although losses were capped by fears that Russia could invades Ukraine and disrupts supplies.
Brent crude futures were at $96.19 a barrel at 02:05 GMT, down 29 cents, or 0.3%. U.S. West Texas Intermediate (WTI) crude fell 36 cents, or 0.4%, to $95.10 a barrel.
FII sell shares worth Rs 4,254 cr
Net-net, Foreign Portfolio Investors (REITs) became sellers of domestic equities to the tune of Rs 4,253.7 crore, according to data available with NSE. DIIs became net buyers to the tune of Rs 2,170.29 crore, according to the data.
Third quarter results today
Crisil, Enkei Wheels (India), Gujarat Credit Corporation, Garbi Finvest, Soma Textiles & Industries, Polo Hotels, Mitsh India and Advance Syntex are among the companies that will announce their December quarter results today.
Rupee: The rupee fell another 24 paise to close on Monday at a more than nine-week low of 75.60 against the US currency, in line with the steep losses in stock markets and a stronger dollar as investors rushed to safe-haven assets amid geopolitical tensions.
10-year bonds: Indian 10-year bonds fell 0.46% to 6.67 after trading in the 6.66-6.73 range on Monday.
Call rates: The weighted average overnight money rate stood at 3.27% on Friday, according to RBI data. It evolved within a range of 2.00 to 3.60%.