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

    Synopsis

    Asian stocks zigzagged between positive and negative territory but opened mostly higher Tuesday, with market heavyweight Alibaba boosted by news it will seek a primary listing in the city, which would allow it to be traded by mainland investors. MSCI's index of Asia-Pacific shares outside Japan was up by 0.15 per cent.

    markets-shutterShutterstock.com
    India 10-year bond dropped about 0.31 per cent to 7.39 after trading in 7.36 - 7.40 range on Monday.
    Domestic equity markets are set to open on a muted note amid a lack of cues from global peers as all eyes are set on the US Fed's meet which kicks off today. US Stocks settled mixed, whereas Asian peers were swinging between gains and losses during the early hours. Rate hikes are likely to dictate the market's direction in the near term while back home India Inc's earnings could lead to stock-specific action. 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 0.24 per cent, lower at 16,579, signalling that Dalal Street was headed for a negative start on Tuesday.

    • Tech View: Nifty50 on Monday snapped a six-day losing streak, as the index formed a bearish candle on the daily chart and made a lower high-low formation. The negative candle had a minor upper and lower shadow.
    • India VIX: The fear gauge jumped more than 6 per cent to 17.68 level on Monday over its close at 16.65 on Friday.

    Asian shares trade mixed
    Asian stocks zigzagged between positive and negative territory but opened mostly higher Tuesday, with market heavyweight Alibaba boosted by news it will seek a primary listing in the city, which would allow it to be traded by mainland investors. MSCI's index of Asia-Pacific shares outside Japan was up by 0.15 per cent.

    • Japan's Nikkei dropped 0.07%
    • Australia's ASX 200 jumped 0.06%
    • New Zealand's DJ declined 0.82%
    • South Korea's Kospi surged 0.23%
    • China's Shanghai gained 0.54%
    • Hong Kong's Hang Seng added 0.84%

    US stocks settle choppy
    Wall Street capped a choppy day of trading with a mixed finish for stock indexes Monday, as investors brace for another sharp interest rate hike by the Federal Reserve this week as the central bank combats inflation.

    • Dow Jones added 0.28% to 31,990.04
    • S&P 500 gained 0.13% to 3,966.84
    • Nasdaq declined 0.43% to 11,782.67

    Fed keeps dollar propped up
    The dollar wobbled around just below multi-decade peaks on Tuesday, as traders waited on a rate hike from the U.S. Federal Reserve and for any clues about whether hints of a slowing economy will prompt a shift away from its focus on inflation.

    • Dollar index pinned at 106.32
    • Euro was trading at $1.0235
    • Pound dropped to $1.2065
    • Yen was struggled at 136.33 per dollar
    • Yuan exchanged hands at 6.7498 against the greenback

    Oil prices rise
    Oil rose on Monday on expectations Russia's reduction in natural gas supply to Europe could encourage a switch to crude, though concerns over weakening fuel demand because of an expected increase in US interest rates limited gains.

    Brent crude futures for September settlement climbed 45 cents, or 0.4 per cent, to $105.60 a barrel by 0112 GMT. US West Texas Intermediate (WTI) crude futures for September delivery increased 34 cents, or 0.4 per cent, to $97.04 a barrel.

    FIIs sell shares worth Rs 845 cr
    Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 844.78 crore, data available with NSE suggested. However, DIIs turned net sellers to the tune of Rs 72.26 crore, data suggests.

    Q1 results today
    Asian Paints, Larsen & Toubro, Bajaj Auto, Tata Power Company, United Spirits, Union Bank of India, Relaxo Footwears, Sanofi India, Aditya Birla Sun Life AMC, KEI Industries, India Grid Trust, SIS, Symphony and UTI Asset Management, are among the companies that will announce their earnings for the quarter ended June 2022.

    Stocks in F&O ban today
    Only one stock - Indiabulls Housing Finance - is under the F&O ban for Tuesday, July 26. 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 rose by 12 paise to close at 79.78 against the US dollar on Monday due to a weak dollar in overseas markets and an improved appetite for riskier assets.

    10-year bonds: India 10-year bond dropped about 0.31 per cent to 7.39 after trading in 7.36 - 7.40 range on Monday.

    Call rates: The overnight call money rate weighted average stood at 4.82 per cent on Thursday, according to RBI data. It moved in a range of 3.30-5.25 per cent.




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    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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