SGX Nifty down 150 points; here's what changed for market while you were sleeping

Domestic equities could open on a negative note tracking global cues as Fed Chairmain Jerome Powell soured the mood by saying it was "very premature" to think about pausing and that the peak for rates would likely be higher than previously expected.

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 147.5 points, or 0.81 per cent, lower at 18,015, signaling that Dalal Street was headed for a negative start on Thursday.

• Tech View: The physiologically-important level of 18000 is a make-or-break level for the Nifty 50. If the index sustains above this level, then it could move towards 18200 level.
• India VIX: The risk-off mood ahead of the US Fed’s meet outcome saw investors book profits, and this pushed the ‘fear gauge’ higher in trade on Wednesday. The volatility index ended 3.3% higher at 16.6625 points.

Asian stocks slide
Asian share markets slid on Thursday after the U.S. Federal Reserve laid the groundwork for a protracted tightening campaign that torpedoed market hopes for a pause, sank bonds and lifted the dollar. MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.9%, with South Korea down 1.5%.

• Futures on the S&P 500 fell 0.3% as of 9:06 a.m. Tokyo time. The S&P 500 fell 2.5%
• Nasdaq 100 futures fell 0.3%. The Nasdaq 100 fell 3.4%
• Australia’s S&P/ASX 200 index fell 2.3%
• South Korea’s Kospi fell 1.4%

US stocks fall
U.S. stocks ended sharply lower on Wednesday, as comments from Fed Chair Jerome Powell shattered initial optimism over a Fed policy statement that raised interest rates by 75 basis points but signaled that smaller rate hikes may be on the horizon.

• Dow down 1.55%
• S&P 500 dips 2.50%
• Nasdaq slips 3.36%

Oil slips
Oil futures fell early on Thursday as the dollar firmed on the Federal Reserve's hawkish stance, but concerns over looming supply risks kept a floor under prices. Brent crude shed 44 cents, or 0.5%, to $95.72 a barrel at 0146 GMT, while U.S. West Texas Intermediate (WTI) crude futures retreated 59 cents, or 0.7%, to $89.41.

Dollar gains
The dollar was on the front foot on Thursday after Federal Reserve Chair Jerome Powell signalled U.S. rates would likely rise further than expected, disappointing traders' hopes for a change in tone, and shifting the focus to Friday's jobs data.

FII/DII action
Foreign portfolio investors (FPIs) net bought stocks worth Rs 1,436 crore on Wednesday, provisional data showed. DIIs net sold shares to the tune of Rs 1,378 crore.

Stocks in F&O ban today
LIC Housing Finance 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 Indian unit fell in trade on Wednesday, as investors parked money in haven asset dollar ahead of the US Fed meet outcome. Rupee settled at 82.7800 against 82.6950 on Tuesday.


Earnings Thursday
79 companies are scheduled to report earnings for the quarter ended September. Adani Enterprises, Hero MotoCorp, Housing Development Finance Corp, Hindustan Petroleum Corp, and Vodafone Idea are among the major ones.


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