STATE OF THE MARKETS
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 51.5 points, or 0.29 per cent, higher at 17,992, signaling that Dalal Street was headed for a positive start on Monday.
- Tech View: Nifty50 on Wednesday faced selling pressure around 18,000 level for the second straight day. The index formed a bearish candle on the daily chart, the second in a row.
- India VIX: The fear gauge eased over 2 per cent to 15.75 level on Thursday over its close 16.11 on Wednesday.
Asian shares traded mostly lower
Asian stocks opened higher, only to give up their gains and slip lower on Monday following strong US jobs data that pushed Wall Street shares to new records. MSCI’s index of Asia-Pacific shares outside Japan was down by 0.20 per cent.
- Japan’s Nikkei declined 0.24%
- South Korea’s Kospi tanked 1.01%
- Australia’s ASX 200 eased 0.19%
- China’s Shanghai advanced 0.15%
- Hong Kong’s Hang Seng fell 0.67%
Wall Street settled higher
US stocks pushed further into record heights on Friday following an encouraging report on hiring across the country. Wall Street’s main indexes scored record closing highsnd booked solid gains for the week following a strong jobs report and positive data for Pfizer’s experimental pill against COVID-19.
- Dow Jones gained 0.56% at 36,327.95
- S&P 500 jumped 0.37% to 4,697.53
- Nasdaq added 0.20% at 15,971.59
Dollar firm as inflation poses next test
The dollar made a steady start to the week on Monday but was kept below Friday peaks, as currency traders seek a path between markets’ volatile interest rate projections and central bankers vowing to keep rates low even as inflation surges.
- Dollar Index was flat at 94.225
- Euro inched up to $$1.1566
- Pound fell to lows at $$1.3425
- Yen held slipped to 113.49 per dollar
- Yuan depreciated to 6.3951 against the greenback
Oil rises after Aramco raises crude selling price
Oil prices rose on Monday after Saudi Arabia’s state-owned oil producer Aramco raised the official selling price for its crude, suggesting demand remains strong at a time of tighter supplies. Brent crude was up by 90 cents or 1.1% at $83.64 a barrel. U.S. oil gained 87 cents or 1.1% to $82.14, having declined almost 3% through Friday.
FPIs sell shares worth Rs 328 cr
Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 328.11 crore, data available with NSE suggested. DIIs turned net buyers to the tune of 38.25 crore, data suggests.
Q2 earnings
Britannia Industries, Sobha, Aurobindo Pharma, Shyam Metalics and Energy, EID Parry (India), V-Mart Retail, 3i Infotech, Balrampur Chini Mills, KRBL, Elgi Equipments, Vijaya Diagnostics Centre, HG Infra Engineering and Wockhardt are among the companies that will announce their September quarter results today.
Three IPO to raise Rs 21,000 cr
Three companies vying for investor attention for raising a whopping Rs 21,000 crore via primary route. Paytm’s parent One 97 Communications will hit the market first, on Monday to raise Rs 18,300 crore. Plus two more names- Sapphire Foods and Latent View Analytics will open for subscription on Tuesday and Wednesday, respectively.
MONEY MARKETS
Rupee: Extending its winning run for a fifth straight session, the rupee rose further by 22 paise to close at a nearly one-month high of 74.46 against the US currency on Wednesday on the back of easing crude oil prices and foreign fund flows into domestic IPOs.
10-year bonds: India 10-year bond eased marginally 0.05 per cent to 6.36 after trading in 6.35 – 6.37 range on Wednesday.
Call rates: The overnight call money rate weighted average stood at 3.34 per cent on Wednesday, according to RBI data. It moved in a range of 2.00-3.50 per cent.
