SGX Nifty down 60 points; here's what changed for market while you were sleeping

The domestic equity market was set to open on a muted note, tracking mixed cues from global peers. US stocks settled mixed in overnight trade, whereas some Asian peers rebounded after initial weakness. Crude continued to fall, giving some breather. Back home, all eyes will be set on the primary market action as two IPOs - Delhivery and Venus Pipes and Tubes - will kick off 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 63.5 points, or 0.39 per cent, lower at 16,147.50, signaling that Dalal Street was headed for a negative start on Wednesday.

• Tech View: Nifty50 on Tuesday fell for the third day and continued with its lower high-low formations. The index made an indecisive candle on the daily chart, with a long upper wick, as the bears thwarted the bulls' attempt to make a comeback.
• India VIX: The fear gauge jumped more than a per cent to 22.30 level on Tuesday over its close at 22.03 on Monday.

Asian shares trade mixed
Asian stocks opened slightly lower on Wednesday, before turning mixed and steadying after losses from Wall Street's rout on fears of economic risks from surging inflation. MSCI's index of Asia-Pacific shares outside Japan was up by 0.04 per cent.

• Japan's Nikkei dropped 0.16%
• Australia's ASX 200 tanked 0.32%
• South Korea's Kospi plunged 0.12%
• New Zealand's DJ shed 0.02%
• China's Shanghai advanced 0.73%
• Hong Kong's Hang Seng gained 0.34%

US stocks settle mixed
Stock indexes on Wall Street ended a choppy day of trading with a mixed finish Tuesday, after an afternoon rally in technology companies helped reverse an early slide.

• Dow Jones dropped 0.26% to 32,160.74
• S&P 500 gained 0.25% to 4,001.05
• Nasdaq advanced 0.98% to 11,737.67

Oil continues to fall
Oil edged lower in early Asian trade on Wednesday, sustaining the previous session's weakness that was caused by risks to demand from an economic recession and on uncertainty about an embargo on Russian oil by the European Union.

Brent crude was down 86 cents, or 1.1 per cent, at $101.60 a barrel. US West Texas Intermediate crude fell 80 cents, or 0.8 per cent, to $98.96 a barrel.

FIIs sell shares worth Rs 3,961 cr
Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 3,960.59 crore, data available with NSE suggested. DIIs turned net buyers to the tune of Rs 2,958.4 crore, data suggests.

Q4 earnings today
Adani Ports, Punjab National Bank, Petronet LNG Relaxo Footwears, Indian Bank, SKF India, BSE, Mangalore Refinery & Petrochem, Cholamandalam Financial Holdings, Balaji Amines, Lakshmi Machine Works, Birla Corporation and Kalyan Jewellers are among the companies which will announce their earnings today

Stocks in F&O ban today
Since it is the beginning of the May series contracts, none of the stocks are under the F&O ban for Wednesday. 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.

Delhivery IPO opens
The initial public offering of logistics and supply chain startup, Delhivery, will kick off for subscription on Wednesday. The company will raise Rs 5,235 crore through the primary route by selling its shares in the range of Rs 462-487 per equity share. The issue will remain open till Friday.

Venus Pipes IPO opens
The Rs 165.42 crore primary offering of Venus Pipes and Tubes will be launched for subscription on Wednesday. The company will raise the entire sum by issuing fresh equity shares. Its price band is fixed at Rs 310-326 apiece. The issue will close for subscription on Friday.

MONEY MARKETS
Rupee: Snapping two days of sharp losses, the rupee appreciated 10 paise to end at 77.34 against the US dollar on Tuesday, supported by a rebound in regional currencies and fall in crude oil prices.

10-year bonds: India 10-year bond tumbled sharply by 2.20 per cent to 7.30 after trading in 7.29 - 7.40 range on Wednesday.

Call rates: The overnight call money rate weighted average stood at 4.05 per cent on Wednesday, according to RBI data. It moved in a range of 2.30-4.30 per cent.