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

Indian equities may extend gains made during muhurat trading session, but likely selling in few index heavyweights could limit the upside.

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 33.5 points, or 0.19 per cent, lower at 17,859, signaling that Dalal Street was headed for a negative start on Tuesday.

• Tech View: The upmove in Nifty 50 on Monday on the eve of Diwali has turned the trend positive and the index is poised to cross 17800 levels, according to technical charts.
• India VIX: The fear gauge ended 0.8% higher on Monday at 17.4225 points.

Asian shares slip
Asian equities fell to new 2-1/2-year lows on Tuesday as early gains inspired by a rally on Wall Street on hopes the Federal Reserve could be nearing the end of aggressive rate increases were offset by weakness in Chinese shares and the yuan.

MSCI's broadest index of Asia-Pacific shares lost 0.4% to 428.2 after dipping to 427.4 , the lowest since April 2020.



US stocks advance
U.S. stocks advanced on Monday, extending last week's gains as signs of economic softness suggested the effects of the Fed's aggressive policy aimed at cooling the economy, thereby curbing decades-high inflation, are beginning to take root.

• Dow up 1.34%
• S&P rises 1.19%
• Nasdaq gains 0.86%

Oil prices edge higher as U.S. dollar eases
Oil prices edged higher on Tuesday, reversing some of the previous session's losses, as the U.S. dollar eased, while weaker U.S. business activity data lowered expectations for more aggressive interest rate hikes in the world's biggest economy.

International benchmark Brent crude futures gained 12 cents to $93.38 per barrel by 0008 GMT, while U.S. West Texas Intermediate crude futures rose 22 cents to $84.80 per barrel.


Dollar eases amid bets on less hawkish Fed
The safe-haven U.S. dollar eased against peers on Tuesday amid signs Federal Reserve rate hikes are already putting the brakes on the world's biggest economy, while risk sentiment improved with Rishi Sunak about to become Britain's prime minister.

• The dollar index eased to 111.78
• The yen held firm on the stronger side of 149 per dollar
• Sterling added 0.24% to $1.13105
• The euro was 0.16% stronger at $0.98875.

FII/DII action
Foreign portfolio investors (FPIs) net sold domestic shares worth Rs 154 crore on Monday, provisional data showed. DIIs on the other hand, net bought stocks to the tune of Rs 80 crore.

Stocks in F&O ban today
Nil. 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.

Rupee: The rupee settled higher against the dollar on Friday amid renewed strength in the dollar. The Indian unit ended at 82.6750 a dollar, against 82.7600 in the previous close.

Earnings Tuesday
Four companies are scheduled to report earnings for the quarter ended September. Chennai Petroleum Corp is among the major ones.