SGX Nifty down 150 points; here’s what changed for market while you were sleeping

STATE OF THE MARKETS


SGX Nifty signals negative start
Nifty futures on the Singapore Exchange traded 151.5 points, or 0.93 per cent, lower at 16,140, signaling that Dalal Street was headed for a negative start on Tuesday.

• Tech View: Nifty50 on Monday saw a gap-down start, but the index managed to close above the opening level, forming a small bullish candle on the daily scale. The formation, made after a Doji in Friday’s trade, made some analysts hopeful, even as the index continued its lower-high low formations. Avoid shorts for now, they suggested.
• India VIX: The fear gauge jumped about 4 per cent to 22.03 level on Monday over its close at 21.25 on Friday.

Asian shares tumble at open
Asian stocks open lower Tuesday, tracking another Wall Street rout on stubborn fears over rising US interest rates and inflation, with investors eyeing earnings reports. MSCI’s index of Asia-Pacific shares outside Japan was down by 1.93 per cent.

• Japan’s Nikkei dropped 1.83%
• Australia’s ASX 200 tanked 2.18%
• South Korea’s Kospi plunged 1.60%
• New Zealand’s DJ tumbled 1.45%
• China’s Shanghai slumped 0.96%
• Hong Kong’s Hang Seng bled 3.28%

US stocks slump
US stocks ended sharply lower on Monday, led by declines in mega-cap growth shares as the benchmark 10-year yield hit fresh 3-1/2 year highs and investors grew more concerned about the interest rate outlook.

• Dow Jones plummeted 1.99% to 32,245.70
• S&P 500 tanked 3.20% to 3,991.24
• Nasdaq plunged 4.29% to 11,623.25

US dollar stronger, commodity currencies hit
The dollar moved higher on a strong footing, buttressed by various reasons. Falling commodity prices dragged the Australian and Canadian currencies lower on Tuesday, although the dollar was steady against most other majors while bitcoin continued to tumble.

• Dollar index was pinned at 103.7
• Euro was dropped to $1.0561
• Pound ticked lower to $1.2329
• Yen struggled at 131.34 per dollar
• Yuan exchanged hands at 6.7306 against the greenback

Oil slips further on demand
Oil prices edged lower in early Asian trade on Tuesday, adding to a 6 per cent slump in the previous session, as coronavirus lockdowns in top oil importer China and potential economic ructions in Europe fed worries about the demand outlook.

Brent crude fell 36 cents, or 0.3 per cent, to $105.58. US West Texas Intermediate crude fell 23 cents, or 0.2 per cent, to $102.86 a barrel. Prices dropped over $1 earlier in the session but pared their losses.

FIIs sell shares worth Rs 3,362 cr
Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 3,361.8 crore, data available with NSE suggested. DIIs turned net buyers to the tune of Rs 3,077.24 crore, data suggests.

Q4 earnings today

& SEZ, Bank, , , , , BSE, & Petrochem, , , Lakshmi , and Kalyan Jewellers are among the companies which will announce their earnings today.

Listing of Rainbow Children’s Medicare
Rainbow Children’s Medicare, the pediatric and gynaecology hospital chain, will make its debut at the bourses on Tuesday. The company raised Rs 1,580.85 crore between April 27-29 by selling its shares in the range of Rs 516-542 apiece. The issue was subscribed 12.4 times.

Stocks in F&O ban today
Since it is the beginning of the May series contracts, none of the stocks are under the F&O ban for Tuesday. 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: Extending its losses for a second day, the rupee on Monday slumped by 54 paise to close at a record low of 77.44 against the US dollar, pressured by the strength of the American currency overseas and unabated foreign fund outflows.

10-year bonds: India 10-year bond spiked about 0.19 per cent to 7.47 after trading in 7.42 – 7.49 range on Monday.

Call rates: The overnight call money rate weighted average stood at 4.06 per cent on Friday, according to RBI data. It moved in a range of 2.30-4.35 per cent.