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    SGX Nifty down 50 points; here's what changed for market while you were sleeping

    Synopsis

    Wall Street's benchmark S&P 500 index ended higher on Friday in a choppy trading session, as gains in defensive shares overshadowed energy declines, and investors shrugged off hawkish comments from Federal Reserve officials about interest rate hikes.

    market-shutterShutterstock.com
    After trading in a narrow range, the Indian unit settled at 81.6850 a dollar on Friday, against 81.6500 on Thursday.
    The key domestic indices may open with a negative bias as extended profit booking could keep trade subdued in domestic equities. Global markets will offer direction to traders.

    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 51.5 points, or 0.28 per cent, lower at 18,296, signaling that Dalal Street was headed for a negative start on Monday.

    Tech View: The short term momentum indicators have been showing negative divergence, which is a sign of weakness. Nifty 50 is expected to correct towards 18100-18000 in the short term. On the higher side, 18450 will remain a major resistance for the index.
    India VIX: Volatility was low in the market despite the weakness on Friday. The index ended 3.3% lower at 14.39 points.

    US stocks rise
    Wall Street's benchmark S&P 500 index ended higher on Friday in a choppy trading session, as gains in defensive shares overshadowed energy declines, and investors shrugged off hawkish comments from Federal Reserve officials about interest rate hikes.

    • Dow rises 0.59%
    • S&P up 0.48%
    • Nasdaq gains 0.01%

    Asian shares mixed
    Asian share markets turned hesitant on Monday as investors fretted about the economic fallout from fresh COVID-19 restrictions in China, while bonds and the dollar braced for more updates on U.S. monetary policy.

    • S&P 500 futures fell 0.2% as of 9:08 a.m. in Tokyo. The S&P 500 rose 0.5% Friday
    • Nasdaq 100 futures fell 0.1%. The Nasdaq 100 was little changed
    • Japan’s Topix index rose 0.3%
    • South Korea’s Kospi index fell 0.4%
    • Australia’s S&P/ASX 200 Index was little changed
    • Hong Kong’s Hang Seng futures fell 0.4%

    Oil prices dip
    Oil prices hovered near two-month lows on Monday as supply fears receded while concerns over China's fuel demand and rising interest rates weighed on prices.

    Brent crude futures for January had slipped 28 cents, or 0.3%, to $87.34 a barrel by 0103 GMT after settling at their lowest since Sept. 27.

    U.S. West Texas Intermediate (WTI) crude futures for December were at $80 a barrel, down 8 cents, ahead of the contract's expiry later on Monday. The more active January contract fell 21 cents to $79.90 a barrel.


    FII/DII action
    Foreign portfolio investors (FPIs) on Friday net sold shares worth Rs 751 crore, provisional data showed. DIIs, however, purchased shares to the tune of Rs 890.5 crore.

    Stocks in F&O ban today
    Balrampur Chini Mills, Bharat Heavy Electricals, Delta Corp, Gujarat Narmada Fertilisers, Indiabulls Housing Finance, 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: After trading in a narrow range, the Indian unit settled at 81.6850 a dollar on Friday, against 81.6500 on Thursday.

    IPO LISTING
    • Archean Chemical Industries to debut on the exchanges today. The stock is likely to list at 30-31% premium to the IPO price of Rs 407.
    • Five Star Business Finance to also list on the bourses today. The stock is likely to see muted listing gains, according to the trends in the grey market.

    (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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