SGX Nifty up 25 points; here’s what changed for market while you were sleeping

SGX Nifty up 25 points; here’s what changed for market while you were sleeping

Synopsis

Asian stocks opened mixed on Monday as few stocks opened higher whereas Chinese and other markets opened with more losses Monday morning after muted data, which saw a surprise contraction in July, adding to worries about the world’s number two economy. MSCI’s index of Asia-Pacific shares outside Japan was down by 0.34 per cent.

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India 10-year bond dropped about 0.16 per cent to 7.32 after trading in 7.25 – 7.33 range on Friday.

Indian equity markets are set to kick off the new month with mild gains, thanks to muted trade in global peers. Asian stocks were majorly mixed, whereas US stocks settled higher on Friday. Back home, traders will be keenly awaiting RBI’s monetary policy meeting scheduled later in the week amid the busy Q1 earnings season. 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 22.5 points, or 0.12 per cent, higher at 17,255, signaling that Dalal Street was headed for a positive start on Monday.

  • Tech View: Nifty50 on Friday climbed for the third straight day and topped the 17,100 level on a closing basis. During the day, the index took out its 200-day simple moving average with a gap-up start earlier in the day and reflected strength.
  • India VIX: The fear gauge plunged almost 3 per cent to 16.55 level on Friday over its close at 17.01 on Thursday.

Asian shares open mixed
Asian stocks opened mixed on Monday as few stocks opened higher whereas Chinese and neary markets opened with more losses Monday morning after muted data, which saw a surprise contraction in July, adding to worries about the world’s number two economy. MSCI’s index of Asia-Pacific shares outside Japan was down by 0.34 per cent.

  • Japan’s Nikkei advanced 0.48%
  • Australia’s ASX 200 gained 0.33%
  • New Zealand’s DJ jumped 0.77%
  • South Korea’s Kospi surged 0.34%
  • China’s Shanghai dropped 0.33%
  • Hong Kong’s Hang Seng fell 0.88%

Wall Street rose on Friday
US stocks added to their recent rally on Friday after upbeat forecasts from Apple and Amazon.com, and the S&P 500 and Nasdaq posted their biggest monthly percentage gains since 2020.

  • Dow Jones rallied 0.97% to 32,845.13
  • S&P 500 jumped 1.42% to 4,130.29
  • Nasdaq surged 1.88% to 12,390.69

Dollar wallows after Fed turns soft
The dollar hung near a three-week low to major peers on Monday as markets continued to wager that the Federal Reserve has less tightening to do with the US economy at risk of recession.

  • Dollar index pinned at 105.53
  • Euro traded flat at $1.0218
  • Pound hovered to $1.2186
  • Yen was recovered to 132.925 per dollar
  • Yuan exchanged hands at 6.7478 against the greenback

Oil prices slipped
Oil prices dropped early on Monday as investors braced for this week’s meeting of officials from OPEC and other top producers on supply adjustments.

Brent crude futures dropped 63 cents, or 0.6 per cent, to $103.34 a barrel by 0000 GMT. US West Texas Intermediate crude was at $97.87 a barrel, down 75 cents, or 0.7 per cent, after hitting a session low of $97.55.

FIIs buy shares worth Rs 1,046 cr
Net-net, foreign portfolio investors (FPIs) turned buyers of domestic stocks to the tune of Rs 1046.32 crore, data available with NSE suggested. However, DIIs turned net sellers to the tune of Rs 0.91 crore, data suggests. FPIs infused a net amount of Rs 4,989 crore in Indian equities in July. They were buyers for nine days in the month.

Q1 results today
ITC,

, UPL,

,

,

Kubota,

,

,

,

,

, Punjab &

,

and

are among the companies that will announce their earnings for the quarter ended June 2022.

Stocks in F&O ban today
As we are in the beginning of the new series, none of the stocks are under the F&O ban for Monday, August 1. 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.

MONEY MARKETS

Rupee: The rupee on Friday notched up its biggest single-day gain in nine months to close at a three-week high of 79.24 against the US dollar on fresh capital inflows and a weak green back in global markets.

10-year bonds: India 10-year bond dropped about 0.16 per cent to 7.32 after trading in 7.25 – 7.33 range on Friday.

Call rates: The overnight call money rate weighted average stood at 5.06 per cent on Thursday, according to RBI data. It moved in a range of 3.30-5.40 per cent.

Print Edition

Print EditionMonday, 01 August, 2022

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