Nifty today: SGX Nifty up 45 points; here’s what changed for the market while you were sleeping

After a sharp decline on Monday, the Indian stock market was eyeing a positive start on Tuesday. Major Asian hubs opened with gains on Tuesday, while US equities posted slight declines ahead of earnings. Crude prices remained stable despite supply constraints from Libya. Domestic traders can deplete stocks at lower valuations. Here are the pre-marketing actions:

STATE OF THE MARKETS


SGX Nifty reports positive start
Nifty futures on the Singapore Stock Exchange traded 43.5 points, or 0.25%, at 17,269.50, signaling Dalal Street was heading for a positive start on Tuesday.

  • Technical view: On Monday, Nifty50 made a “death cross” as the 50-day simple moving average fell below its 200-day moving average. The last time the index made a “death cross” was in March 2020.
  • India VIX: The Fear Gauge climbed as much as 9% to the 19.34 level on Monday from its close at 17.78 on Wednesday.

Asian stocks trade mixed
Asian stocks opened mostly higher on Tuesday as investors looked to trade stocks that fell after modest falls on Wall Street. However, those who resumed trading on Tuesday after a holiday in the previous session were under selling pressure. The MSCI Asia-Pacific ex-Japan equity index fell 0.14%.

  • The Japanese Nikkei jumped 0.48%
  • Australia’s ASX 200 rebounded 0.78%
  • The South Korean Kospi gained 1.08%
  • Shanghai in China added 0.28%
  • Hong Kong’s Hang Seng plunged 2.46%

US stocks fall on Monday
U.S. stocks closed lower on Monday after a session in which all three benchmarks slid between positive and negative territory, as investors pitted positive Bank of America earnings against soaring bond yields ahead of new earnings indices this week.

  • The Dow Jones lost 0.11% to 34,411.69
  • The S&P 500 fell 0.02% to 4,391.69
  • The Nasdaq fell 0.14% to 13,332.36

Yen slips to 20-year low
The Japanese yen hit a 20-year low against the dollar on Tuesday, supported by strong US Treasury yields and likely relatively good US economic data this week.

  • The dollar index was pinned at 100.8
  • The euro fell to $1.0776
  • The pound fell to $1.3006
  • The yen fell to 127.44 per dollar
  • The yuan traded at 1.3006 against the greenback

Oil prices stable
Oil prices were little changed on Tuesday, after rising 1% in the previous session as Libya was forced to suspend some exports and Chinese manufacturers prepared to reopen factories after a nearly three-week COVID shutdown. -19 in Shanghai.

Brent crude futures rose 21 cents, or 0.2%, to $113.37 a barrel at 0020 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 2 cents to $108.19 a barrel.

Closure of Libya’s largest oil field
Tribal leaders in southern Libya have closed the country’s largest oil field, authorities said on Monday, the latest closure of an oil facility amid a bitter standoff between two rival governments.

FII sell shares worth Rs 6,387 cr
Net-net, Foreign Portfolio Investors (REITs) became sellers of domestic equities to the tune of Rs 6,387.45 crore, according to data available with NSE. DIIs became net buyers to the tune of Rs 3,341.96 crore, according to the data.

Fourth quarter results today
Larsen & Toubro Infotech, ACC, Mastek, PCBL, Tata Steel Long Products, Benares Hotels, Godavari Drugs and Longview Tea Company are the companies that will report their March quarter results today.

F&O stocks are banned today
Only one stock – Tata Power – is under the F&O ban for Tuesday. Blackout securities in the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

MONEY MARKETS

Rupee: The rupiah depreciated for the third consecutive session to close down 10 paise at 76.29 against the US dollar on Monday, following the greenback’s strength overseas coupled with foreign outflows.

10-year bonds: Indian 10-year bonds fell 0.86% to 7.16 after trading in the 7.15-7.26 range on Monday.

Call rates: The weighted average overnight money rate stood at 3.44% on Wednesday, according to RBI data. It evolved within a range of 2.20 to 3.80%.

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