SGX Nifty up 90 points; here's what changed for market while you were sleeping

Indian equities could rebound amid supportive global cues, but expiry of the September derivatives series is set to bring in some volatility. Options data indicate that Nifty 50 is likely to be in the 17500-18000 zone and may end the series within this range.

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 94.5 points, or 0.53 per cent, higher at 17,933, signaling that Dalal Street was headed for a positive start on Thursday.

• Tech View: The short-term trend for Nifty 50 remains positive and it could move towards the 17750-17850 zone. On the downside, major support is seen at 17500 points.
• India VIX: The fear gauge ended 3% lower on Tuesday at 16.88 points amid subdued trade in the market.

Asia shares jump
Asian shares rose on Thursday on growing expectations that major central banks could start slowing th pace of interest rate hikes in coming months, while the dollar's retreat lifted commodities and pushed treasury yields lower.

MSCI's broadest index of Asia-Pacific shares outside Japan was 1.59% higher and set for third straight session of gains. The index is down roughly 2% for the month.

• Australia's resources-heavy share index advanced 0.81%
• Japan's Nikkei opened 0.09% lower.
• China's stock market opened 0.1% higher
• Hong Kong's Hang Seng Index was up 2.6%

S&P 500 ends lower on mounting slowdown fears
The S&P 500 ended a three-day winning streak on Wednesday, closing in negative territory as gloomy earnings guidance added to growing fears of a global economic slowdown.

• Dow up 0.01%
• S&P off 0.74%
• Nasdaq down 2.04%

Oil prices climb
Oil prices continued to rise in early Asian trade on Thursday after surging more than 3% in the previous session, driven by record U.S. crude exports and a weaker U.S. dollar. Brent crude futures rose 25 cents, or 0.3%, to $95.94 a barrel by 0015 GMT. U.S. West Texas Intermediate (WTI) crude rose 19 cents, or 0.2%, to $88.10.

Dollar slips as bets mount for less hawkish Fed
The dollar retreated on Thursday as market expectations mounted that the Federal Reserve will tone down its aggressive stance on interest rate hikes, pushing the euro further above parity and lifting its other major peers to multi-week highs.



FII/DII action
Foreign portfolio investors (FPIs) net sold domestic shares worth Rs 247 crore on Tuesday, provisional data showed. DIIs on the other hand, net bought stocks to the tune of Rs 873 crore.

Stocks in F&O ban today
Bharat Heavy Electricals and Punjab National Bank. Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

Rupee: The rupee ended tad lower against the dollar on Tuesday. The Indian unit ended at 82.7250 a dollar, against 82.6750 in the previous session.


MACRO NEWS
According to the World Steel Association, India’s crude steel output rose 1.8% on year to 9.9 million tonne in September, whereas global steel output was 3.7% higher at 151.7 million tonne.


Earnings Thursday
38 companies are scheduled to report earnings for the quarter ended September. Aditya Birla Sun Life, Indus Towers, SBI Cards, and Tata Chemicals are among the major ones.


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