SGX Nifty falls 30 points; here's what changed for market while you were sleeping

The domestic equity market was headed for a muted opening on Wednesday, tracking mixed cues from its Asian peers. However, US stocks rallied during overnight trade. Trades are cautious over the rising inflation in India and across the world. Back home, Ethos' IPO will open for subscription. Here's breaking down the pre-market actions:

STATE OF THE MARKETS

SGX Nifty signals negative start
Nifty futures on the Singapore Exchange traded 28 points, or 0.17 per cent, lower at 16,241, signaling that Dalal Street was headed for a negative start on Wednesday.

• Tech View: Nifty50 on Tuesday formed a large bullish candle on the daily chart after making what looked like a Bullish Harami candle in the previous day, sending signs of reversal. With this, the index has chalked out a new range after offering strong support at the lower end of the 15,750-16,150 range in the last few sessions.

• India VIX: The fear gauge dropped more than 7 per cent to 22.74 level on Tuesday over its close at 24.53 on Monday.

Asian shares trade mixed
Asian stocks trade with mixed cues on Wednesday, despite strong gains on Wall Street, over weak economic data from China and rising inflationary worries. MSCI's index of Asia-Pacific shares outside Japan was up 0.30 per cent.

• Japan's Nikkei gained 0.63%
• Australia's ASX 200 jumped 0.78%
• South Korea's Kospi added 0.03%
• New Zealand's DJ rallied 0.75%
• China's Shanghai shed 0.27%
• Hong Kong's Hang Seng dropped 0.67%

US stocks end higher
Wall Street finished sharply higher on Tuesday, lifted by Apple, Tesla and other mega cap growth stocks after strong retail sales in April eased worries about slowing economic growth.

• Dow Jones gained 1.34% to 32,654.59
• S&P 500 jumped 2.02% to 4,088.85
• Nasdaq surged 2.76% to 11,984.52

Dollar knocked from 20-year high
Overnight surges left the euro and pound sitting pretty in early Asia helped by good UK jobs data and a general improvement in investor sentiment on solid US retail sales and hopes of easing lockdowns in China.

• Dollar index dropped to 103.18
• Euro was rose to $1.0563
• Pound held steady to $1.2501
• Yen moved up to 129.28 per dollar
• Yuan exchanged hands at 6.7506 against the greenback

FIIs sell shares worth Rs 2,192 cr
Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 2192.44 crore, data available with NSE suggested. DIIs turned net buyers to the tune of Rs 2,294.42 crore, data suggests.

Q4 earnings today
ITC, Pidilite Industries, InterGlobe Aviation, Indian Overseas Bank, Lupin, Indraprastha Gas, Aditya Birla Fashion & Retail, LIC Housing Finance, Route Mobile, Manappuram Finance, Finolex Industries, Shyam Metalics and Energy, Westlife Development and Granules India are among the companies which will announce their earnings today.

Stocks in F&O ban today
Three stocks - GNFC, Indiabulls Housing Finance and Punjab National Bank - are under F&O ban for Wednesday, May 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.

Ethos IPO opens today
The Rs 472.29 crore initial public offering (IPO) of India's largest premium and luxury watch retailer Ethos will open for subscription on Wednesday. The issue is open and can be subscribed till Friday, May 20. The company is selling its shares in the range of Rs 836-878 apiece.

MONEY MARKETS
Rupee: The rupee on Tuesday hit its life-time intra day low of 77.79 before closing 11 paise higher against the US currency on a stellar rally in the domestic stock markets and a pullback in the dollar.

10-year bonds: India 10-year bond jumped 0.66 per cent to 7.36 after trading in 7.34 - 7.36 range on Tuesday.