SGX Nifty down 40 points; here's what changed for market while you were sleeping

After a day's hiatus, domestic equity markets are set to open on a muted note, tracking the tune of their global peers. US Stocks settled down due to selling in tech counters, whereas Asian peers were also trading with cuts. All eyes are set on US inflation numbers later in the day for the cues over Fed's next move to curb the rising prices. Here's breaking down the pre-market actions:

STATE OF THE MARKETS

SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 39.5 points, or 0.23 per cent, lower at 17,501, signaling that Dalal Street was headed for a negative start on Wednesday.

• Tech View: Nifty50 on Friday ended on a flattish note for the second straight session. The index formed an indecisive candle on the daily chart. On the weekly scale, the index formed a small bullish candle. Analysts said the index might be losing momentum after recent strong gains. They see 17,500 as an immediate resistance level.
• India VIX: The fear gauge spiked more than 2 per cent to 19.30 level on Monday over its close at 18.92 on Friday.

Asian stocks trade in red
Asian stocks opened on the back foot Wednesday morning, following overnight falls of Wall Street tech shares ahead of key US inflation data later in the day. MSCI's index of Asia-Pacific shares outside Japan was down by 0.73 per cent.

• Japan's Nikkei plunged 0.70%
• Australia's ASX 200 shed 0.05%
• New Zealand's DJ dropped 0.68%
• South Korea's Kospi slumped 0.78%
• China's Shanghai retreated 0.25%
• Hong Kong's Hang Seng fell 1.42%

US stocks settle lower
Stocks are closing lower on Wall Street as disappointing earnings reports weighed on technology and travel companies. The Nasdaq closed down on Tuesday after a dismal forecast from Micron Technology pulled chip makers and tech stocks lower as investors await US inflation data.

• Dow Jones dropped 0.18% to 32,774.41
• S&P 500 plunged 0.42% to 4,122.47
• Nasdaq retreated 1.19% to 12,493.93

Dollar trades firm
The dollar traded firmly on Wednesday in anticipation of U.S. inflation data, which even if it comes in softer-than-expected is still likely to be so red hot that steep U.S. interest rate rises will be required to rein it in.

• Dollar index pinned at 106.172
• Euro held firm to $1.0208
• Pound exchanged at $1.2072
• Yen was struggled at 135.14 per dollar
• Yuan exchanged hands at 6.7568 against the greenback

Oil prices dip
Oil prices edged lower on Wednesday, after industry data showed U..crude inventories unexpectedly rose last week, signaling a potential hiccup in demand.

Brent crude futures fell 6 cents to $96.25 a barrel by 0002 GMT. US West Texas Intermediate crude futures declined 16 cents to $90.34 a barrel.

FIIs buy shares worth Rs 1,450 cr
Net-net, foreign portfolio investors (FPIs) turned buyers of domestic stocks to the tune of Rs 1449.7 crore, data available with NSE suggested. However, DIIs turned net sellers to the tune of Rs 140.73 crore, data suggests.

Q1 results today
Bharti Airtel, Adani Ports & SEZ, Power Grid Corporation of India, Samvardhana Motherson International, Delhivery, Indian Hotels Company, UNO Minda, Vedant Fashions, Torrent Power, Whirlpool of India and National Aluminum are among the companies that will announce their earnings for the quarter ended June 2022.

Stocks in F&O ban today
Three stocks - Escorts Kubota, Delta Corp and Balrampur Chini Mills - are under the F&O ban for Monday, August 8. 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 depreciated by 39 paise to close at 79.63 against the US currency on Monday, pressured by dollar demand and waning risk appetite among investors.

10-year bonds: India 10-year bond spiked wildly 0.66 per cent to 7.35 after trading in 7.33 - 7.36 range on Monday.