Nifty today: SGX Nifty down 170 points; here’s what changed for market while you were sleeping

Domestic stock markets are poised for another gap-down open on Wednesday, tracking negative leads from Asian peers, which fell sharply during the early hours of trading. US stocks also continued to fall, finishing mixed after shaky trading. The strength of the dollar is a concern for emerging markets, hurting other currencies. Here’s a breakdown of the pre-market promotions:

STATE OF THE MARKETS


SGX Nifty signals a negative start
Slick futures on the Singapore Stock Exchange traded 173 points, or 1.01 percent, lower at 16,882, suggesting Dalal Street was heading for a negative start on Wednesday.

  • Tech View: The Nifty50 broke below its key short-term support at 50-DMA placed at 17,340. It bounced off its long-term support at 200-DMA at 16,993. It formed a bearish candle on the daily charts. The index has made lower highs and lower lows on the daily charts and the SuperTrend indicator has also triggered a sell off on the daily charts.
  • India VIX: The fear meter fell almost 2 percent on Tuesday to 21.56 from Monday’s close of 21.89.
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Asian stocks open with big cuts
Asian stocks fell sharply again as traders started a new trading day on Wednesday, tracking losses in New York and Europe fueled by prolonged recession fears. The MSCI index of Asia Pacific equities outside Japan was down 1.54 percent.

  • Japan’s Nikkei fell 2.07%
  • Australia’s ASX 200 fell 0.53%
  • New Zealand’s DJ fell 0.56%
  • South Korea’s Kospi down 2.32%
  • China’s Shanghai plunged 0.71%
  • Hong Kong’s Hang Seng fell 2.23%

US stocks are mostly lower
Wall Street sank deeper into a bear market on Tuesday, with the S&P 500 posting its lowest close in almost two years, as Federal Reserve policymakers showed an appetite for more rate hikes, even at the risk of sending the economy into a downturn .

  • The Dow Jones fell 0.43% to 29,134.99
  • The S&P 500 fell 0.21% to 3,647.29
  • Nasdaq rose 0.25% to 10,829.50
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Dollar advances on the hawkish Fed talk
The pound languished near a record low on Wednesday on continued concerns over the UK’s sweeping tax cuts to boost growth, while the dollar rallied after US Treasury yields rose overnight.

  • The dollar index rose to 114.35
  • The euro surged south to $0.95735
  • The pound fell to $1.0693
  • The yen struggled at 144.79 per dollar
  • Yuan exchanged hands with the greenback at 7.2191

Oil prices remain stable
Oil prices were mixed in early Asian trade Wednesday as support from US production cuts caused by Hurricane Ian struggled with crude stockpiling and a strong dollar.

Brent crude futures were down 4 cents, or 0.1 percent, to $86.23 a barrel by 0022 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 22 cents to $78.03 a barrel.

FIIs are selling shares worth Rs 2,824 cr

Net to net, foreign portfolio investors (FPIs) turned to sellers of domestic shares Rs 2,823.96 crore, data available at NSE suggests. However, data suggests that DIIs became net buyers of Rs 3,504.76 crore.

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Stocks in F&O ban today
Two stocks –

and Zee Entertainments – subject to F&O ban for Wednesday 28 September. Stocks on hold in the F&O segment include companies where the stock has exceeded 95 percent of the market-wide position limit.

MONEY MARKETS

Rupee: The rupee consolidated in a tight range, trading 14 paise higher at 81.53 against the US dollar on Tuesday as the US currency pulled back from its high levels.

10-year bonds: 10-year Indian bonds fell sharply, down 0.91 percent to 7.29 after trading in a 7.28-7.41 range on Tuesday.

Call charges: The weighted average overnight rate stood at 5.35 percent on Monday, according to RBI data. It ranged from 3.80 to 5.75 percent.