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    SGX Nifty up 165 points; here's what changed for market while you were sleeping

    Synopsis

    Asian shares inched higher on Monday following a much-needed bounce on Wall Street, but nerves are stretched ahead of a near-certain rate hike in Europe and another round of corporate earnings reports. MSCI's index of Asia-Pacific shares outside Japan was up by 0.63 per cent.

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    Asian shares inched higher on Monday following a much-needed bounce on Wall Street, but nerves are stretched ahead of a near-certain rate hike in Europe and another round of corporate earnings reports. MSCI's index of Asia-Pacific shares outside Japan was up by 0.63 per cent.
    Domestic equity markets are set to kick off the week with a gap-up opening on Monday, thanks to strong gains seen by global peers. US stocks settled sharply higher during the weekend trade, whereas Asian peers followed the suit in Monday's trade. However, India Inc earnings would guide the markets back home. 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 167 points, or 1.04 per cent, lower at 16,207, signalling that Dalal Street was headed for a Positive start on Monday.

    • Tech View: The Nifty50 on Friday snapped a four-day losing streak and ended above its 50-day simple moving average. The index formed a bullish candle on the daily chart with a long-lower wick, suggesting a Hammer-like reversal candle. With this, the index has also negated the lower high-low it was making for the last couple of sessions.
    • India VIX: The fear gauge declined more than 4 per cent to 17.60 level on Friday over its close at 18.34 on Thursday.

    Asian shares trade with gains
    Asian shares inched higher on Monday following a much-needed bounce on Wall Street, but nerves are stretched ahead of a near-certain rate hike in Europe and another round of corporate earnings reports. MSCI's index of Asia-Pacific shares outside Japan was up by 0.63 per cent.

    • Japan's Nikkei jumped 0.54%
    • Australia's ASX 200 gained 0.51%
    • New Zealand's DJ dropped 0.44%
    • South Korea's Kospi rallied 1.44%
    • China's Shanghai added 0.61%
    • Hong Kong's Hang Seng added 0.82%

    US stocks settle higher
    Wall Street bounced back with a broad rally on Friday, as investor confidence was boosted by upbeat earnings, heartening economic data and waning fears of a larger-than-expected interest rate hike by the Federal Reserve.

    • Dow Jones zoomed 2.15% to 31,288.26
    • S&P 500 jumped 1.92% to 3,863.16
    • Nasdaq advanced 1.79% to 11,452.42

    Dollar lurks below highs
    The dollar began the week nudging down from multi-year highs, with a hotter-than-forecast inflation reading in New Zealand lending modest support to the kiwi, though fears about Europe's gas supply put a cap on dollar selling.

    • Dollar index pinned at 107.83
    • Euro was trading at $1.0094
    • Pound drifted up to $1.1890
    • Yen was struggled at 138.29per dollar
    • Yuan exchanged hands at 6.754 against the greenback

    Oil prices drop sharply
    Oil prices fell $1 in early trading in Asia on Monday, cutting into gains from Friday, as attention turned back to rising COVID-19 cases in China and the prospect of lockdowns again reducing fuel demand in the world's top oil importing nation.

    Brent crude futures for September settlement fell $1.47, or 1.5 per cent, to $99.69 a barrel. US West Texas Intermediate (WTI) crude futures for August delivery dropped $1.54, or 1.6 per cent, to $96.05 a barrel at 0055 GMT.

    FIIs buy shares worth Rs 1,649 cr
    Net-net, foreign portfolio investors (FPIs) turned buyers of domestic stocks to the tune of Rs 1,649.36 crore, data available with NSE suggested. However, DIIs turned net sellers to the tune of Rs 1,059.46 crore, data suggests. FPIs pulled out a net amount of Rs 7,432 crore from Indian equities during July 1-15.

    Stocks in F&O ban today
    Only one stock - Delta Corp - is under the F&O ban for Monday, July 18. 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.

    Q1 results today
    Bank of Maharashtra, Alok Industries, Heidelberg Cement (India), Ganesh Housing Corporation, Bhansali Engineering Polymers and Nelco are among the companies that will announce their quarterly earnings for the quarter ended June 2022.

    MONEY MARKETS
    Rupee: The rupee on Friday rebounded from the near-80 levels to close higher by 17 paise at 79.82 against the US currency following a recovery in the domestic stocks and weakness in the greenback in overseas markets.

    10-year bonds: India 10-year bond jumped about 0.73 per cent to 7.44 after trading in 7.40 - 7.45 range on Friday.

    Call rates: The overnight call money rate weighted average stood at 4.68 per cent on Friday, according to RBI data. It moved in a range of 3.30-4.85 per cent.







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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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