STATE OF THE MARKETS
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 50 points, or 0.28 per cent, higher at 18,189, signaling that Dalal Street was headed for a positive start on Tuesday.
- Tech View: NSE’s Nifty50 failed to capitalise on the gap up opening and succumbed to the selling pressure in Monday’s trade. Eventually, it formed an indecisive candle, resembling a Spinning Top pattern.
- India VIX: The fear gauge gained 2 per cent to 15.46 level on Monday over its close at 15.22 on Friday.
Asian shares traded mostly higher
Asian Stocks traded mixed, mostly higher, after opening flat on Tuesday following a choppy US session, with investors shifting their focus to a US-China summit. MSCI’s index of Asia-Pacific shares outside Japan was up by 0.18 per cent.
- Japan’s Nikkei advanced 0.08%
- South Korea’s Kospi added 0.10%
- Australia’s ASX 200 tanked 0.54%
- China’s Shanghai gained 0.15%
- Hong Kong’s Hang Seng added 0.56%
US stocks settled higher
Stocks closed mostly lower after wobbling most of Monday on Wall Street as the market comes off its first weekly loss in six weeks and investors move past the recent round of mostly solid corporate earnings. However, the fall was marginal.
- Dow Jones slipped 0.04% to 36,087.45
- S&P 500 edged lower to 4,682.80
- Nasdaq declined 0.04% at 15,853.85
Euro crumbles, eyes on US consumer test
The euro was huddled at a 16-month low on Tuesday while the dollar was firm as traders awaited U.S. retail sales data, wary a strong reading could stoke inflation and add pressure on the Federal Reserve to hike rates.
- Dollar Index moved up to 95.595
- Euro slipped down to $1.1361
- Pound held to $1.3411
- Yen traded at 114.14 per dollar
- Yuan held steady to 6.3812 against the greenback
Oil prices drop on demand worries
Oil prices slipped on Tuesday as a rebound in COVID-19 cases in Europe raised concerns over demand amid expectation that supply will rise, while some in the market still fear the United States may release crude reserves to stop a rally in gasoline prices. Brent futures fell 9 cents, or 0.1%, to $81.96 a barrel, while U.S. West Texas Intermediate (WTI) crude slid 10 cents, or 0.1%, to $80.78 a barrel.
FPIs buy shares worth Rs 425 cr
Net-net, foreign portfolio investors (FPIs) turned buyers of domestic stocks to the tune of Rs 424.74 crore, data available with NSE suggested. DIIs turned net buyers to the tune of 1524.67 crore, data suggests.
MONEY MARKETS
- Rupee: The rupee pared initial gains to settle nearly flat at 74.46 against the US dollar on Monday amid a muted trend in the domestic equity market. However, lower crude prices in the international market supported the rupee.
- 10-year bonds: India 10-year bond jumped eased 0.41 per cent to 6.34 after trading in 6.34 – 6.36 range on Monday.
