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    SGX Nifty down 85 points; here's what changed for market while you were sleeping

    Synopsis

    Wall Street's main indexes gained on Tuesday, shaking off an unconfirmed report of Russian missiles crossing into Poland that sparked volatility, as investors seized on softer-than-expected inflation data that raised hopes of a pullback in rate hikes by the U.S. Federal Reserve.

    markets-shutterShutterstock.com
    The Indian unit rose against the dollar on Tuesday amid weakness in the dollar index. The rupee settled at 81.0950 a dollar, against 81.2600 in the previous session.
    The domestic equities are braced for a cautious open on Wednesday as global markets were rattled by media reports that said Russian missiles killed two people in Poland, news that raised fears of an escalation in the Ukraine war.

    Positioning in the options of Nifty 50 indicates a trading range of 18400-18800 levels.

    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 84 points, or 0.45 per cent, lower at 18,410.50, signaling that Dalal Street was headed for a negative start on Wednesday.


    • Tech View: Nifty 50 at a record closing high on Tuesday has turned the short-term trend positive, but some cautious trading is likely as the index moves further up. The index has to hold above 18350 points for a sustained upmove.
    • India VIX: Strength in the market pulled down the ‘fear gauge’ on Tuesday, as risk-on sentiment improved. The index ended 1.8% down at 14.6350 points.

    Wall Street gains
    Wall Street's main indexes gained on Tuesday, shaking off an unconfirmed report of Russian missiles crossing into Poland that sparked volatility, as investors seized on softer-than-expected inflation data that raised hopes of a pullback in rate hikes by the U.S. Federal Reserve.
    • Dow up 0.17%
    • S&P rises 0.87%
    • Nasdaq gains 1.45%

    Asian stocks signal caution
    Asian stocks dropped and the dollar gained on Wednesday after blasts in Poland that Ukraine and Polish authorities said were caused by Russian-made missiles. The potential for a further ratcheting up of geopolitical tensions saw MSCI's broadest index of Asia-Pacific shares outside Japan lose 0.6%.

    • Futures on the S&P 500 fell 0.2% as of 8:20 a.m. Tokyo time. The S&P added 0.9%
    • Nasdaq 100 futures fell 0.2%. The Nasdaq 100 rose 1.5%
    • Hang Seng futures fell 0.3%
    • Nikkei 225 futures fell 0.1%
    • Australia’s S&P/ASX 200 Index fell 0.3%

    Safe-haven dollar gains
    The safe-haven U.S. dollar edged higher against major peers on Wednesday as markets continued to assess news of a Russian-made rocket striking NATO-member Poland, and whether it could lead to an escalation of the Ukraine war.
    • The euro was 0.05% lower at $1.0345
    • Sterling sank 0.21% to $1.18435
    • The Aussie fell 0.24% to $0.6740
    • The New Zealand dollar dropped 0.41% to $0.6132.

    Oil prices steady
    Oil prices were little changed on Wednesday as COVID-19 cases in China continued to climb, sparking worries of lower fuel demand in the world's top crude importer, and outweighing concerns about an escalation of geopolitical tensions and tighter oil supply.


    FII/DII action
    After being net buyers in the last few sessions, foreign portfolio investors (FPIs) turned sellers on Tuesday. They net sold shares worth Rs 221.3 crore, provisional data showed. DIIs were also net sellers of shares, with they offloading stocks to the tune of Rs 549.3 crore.

    Stocks in F&O ban today
    Bharat Heavy Electricals, Delta Corp, Gujarat Narmada Fertilizers, Punjab National Bank, and Sun TV Network. 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 Indian unit rose against the dollar on Tuesday amid weakness in the dollar index. The rupee settled at 81.0950 a dollar, against 81.2600 in the previous session.

    IPO LISTING

    • Bikaji Foods International to debut on the exchanges on Wednesday. Trends in the grey market indicate moderate listing gains for the stock.
    • Global Health to list on the exchanges on Wednesday. Some listing gains likely for investors.

    (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)






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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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