GIFT Nifty up 12 points: Asian markets, crude oil prices, dollar movement & more
Nifty futures on the NSE International Exchange traded 11.50 points, or 0.06 per cent, higher at 20,129.50 hinting at a positive start for the domestic market on Tuesday.
- Sep 12, 2023,
- Updated Sep 12, 2023 8:45 AM IST
Domestic equity markets are likely to open higher on Tuesday despite mixed global cues. Asian stocks dipped in the early trade while US stocks settled higher overnight. Global investors are awaiting key economic data from the US due this week, which may influence the Fed policy going ahead. Here's what you should know before the opening bell: Nifty outlook Momentum indicators for Nifty are in sync with the price action on the daily and hourly time frames, said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas. "Thus, we can expect the positive momentum to continue. On the upside, we expect Nifty to target levels of 21,000 from a short term perspective. In terms of levels, the 19,865-19,810 range is the crucial support while 20,200-20,250 shall act as an immediate hurdle," he said. GIFT Nifty signals a positive start Nifty futures on the NSE International Exchange traded 11.50 points, or 0.06 per cent, higher at 20,129.50, hinting at a positive start for the domestic market on Tuesday. Asian stocks fall in early trade Asian stock markets declined in early Tuesday trade. The MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.12 per cent. Japan's Nikkei advanced 0.60 per cent; Australia's ASX 200 declined 0.11 per cent; China's Shanghai shed 0.17 per cent; Hong Kong's Hang Seng tanked 0.64 per cent and South Korea's Kospi declined 0.44 per cent. Oil prices stable ahead of key economic data Brent crude futures hovered just above $90 a barrel on Tuesday, as investors awaited a slew of macroeconomic data due later this week that could indicate whether Europe and the US continue to hike interest rates. The international benchmark Brent contract dipped 6 cents to $90.58 a barrel at 0003 GMT, while US West Texas Intermediate crude futures edged 2 cents lower to $87.27. Dollar finds floor ahead of US inflation data The yen steadied near a one-week high on Tuesday as comments from Japan's top central banker on a possible end to its negative interest rate policy reverberated through markets, while the dollar regained some lost ground. The US dollar index rose 0.03 per cent to 104.60. The Japanese currency was last marginally lower at 146.61 per dollar. The euro touched a one-week high of $1.0771. Sterling steadied at $1.2508. US stocks settled higher The Nasdaq closed sharply higher on Monday as Tesla surged on optimism around artificial intelligence and investors awaited inflation data due later this week. Investors are looking to August consumer price index data due on Wednesday for clues about how close the Federal Reserve may be to ending its campaign of interest rate hikes. The S&P 500 climbed 0.67 per cent to end at 4,487.46 points. The Nasdaq gained 1.14 per cent at 13,917.89 points, while the Dow Jones Industrial Average rose 0.25 per cent to 34,663.72 points. Stocks in F&O ban As many as nine stocks have been put under the F&O segment ban by the National Stock Exchange (NSE) for Tuesday, September 12. New entrants, namely Bharat Heavy Electricals (BHEL) will join the retentions including new entrants like Manappuram Finance, Steel Authority of India (SAIL), Chambal Fertilisers and Chemicals, Punjab National Bank (PNB), Delta Corp, Hindustan Copper, Indiabulls Housing Finance and India Cements. FPIs buy shares worth Rs 1,473 crore Provisional data available with NSE suggest that FPIs turned net buyers of domestic stocks to the tune of Rs 1,473.09 crore on Monday. Domestic institutional investors (DIIs) were net buyers of Indian equities to the tune of Rs 366.24 crore. Rupee ends flat against dollar The rupee closed almost flat at 83.03 against the dollar on Monday as elevated crude oil prices and global inflation worries weighed on the local currency despite a record rally in equities fueled by FII inflows. A weak American currency against major rivals overseas also supported the domestic unit and restricted the fall, forex traders said. Note: With inputs from PTI, Reuters and other agencies
Also read: L&T, PowerGrid, Jupiter Wagons, HFCL, other stocks to watch on September 12, 2023
Domestic equity markets are likely to open higher on Tuesday despite mixed global cues. Asian stocks dipped in the early trade while US stocks settled higher overnight. Global investors are awaiting key economic data from the US due this week, which may influence the Fed policy going ahead. Here's what you should know before the opening bell: Nifty outlook Momentum indicators for Nifty are in sync with the price action on the daily and hourly time frames, said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas. "Thus, we can expect the positive momentum to continue. On the upside, we expect Nifty to target levels of 21,000 from a short term perspective. In terms of levels, the 19,865-19,810 range is the crucial support while 20,200-20,250 shall act as an immediate hurdle," he said. GIFT Nifty signals a positive start Nifty futures on the NSE International Exchange traded 11.50 points, or 0.06 per cent, higher at 20,129.50, hinting at a positive start for the domestic market on Tuesday. Asian stocks fall in early trade Asian stock markets declined in early Tuesday trade. The MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.12 per cent. Japan's Nikkei advanced 0.60 per cent; Australia's ASX 200 declined 0.11 per cent; China's Shanghai shed 0.17 per cent; Hong Kong's Hang Seng tanked 0.64 per cent and South Korea's Kospi declined 0.44 per cent. Oil prices stable ahead of key economic data Brent crude futures hovered just above $90 a barrel on Tuesday, as investors awaited a slew of macroeconomic data due later this week that could indicate whether Europe and the US continue to hike interest rates. The international benchmark Brent contract dipped 6 cents to $90.58 a barrel at 0003 GMT, while US West Texas Intermediate crude futures edged 2 cents lower to $87.27. Dollar finds floor ahead of US inflation data The yen steadied near a one-week high on Tuesday as comments from Japan's top central banker on a possible end to its negative interest rate policy reverberated through markets, while the dollar regained some lost ground. The US dollar index rose 0.03 per cent to 104.60. The Japanese currency was last marginally lower at 146.61 per dollar. The euro touched a one-week high of $1.0771. Sterling steadied at $1.2508. US stocks settled higher The Nasdaq closed sharply higher on Monday as Tesla surged on optimism around artificial intelligence and investors awaited inflation data due later this week. Investors are looking to August consumer price index data due on Wednesday for clues about how close the Federal Reserve may be to ending its campaign of interest rate hikes. The S&P 500 climbed 0.67 per cent to end at 4,487.46 points. The Nasdaq gained 1.14 per cent at 13,917.89 points, while the Dow Jones Industrial Average rose 0.25 per cent to 34,663.72 points. Stocks in F&O ban As many as nine stocks have been put under the F&O segment ban by the National Stock Exchange (NSE) for Tuesday, September 12. New entrants, namely Bharat Heavy Electricals (BHEL) will join the retentions including new entrants like Manappuram Finance, Steel Authority of India (SAIL), Chambal Fertilisers and Chemicals, Punjab National Bank (PNB), Delta Corp, Hindustan Copper, Indiabulls Housing Finance and India Cements. FPIs buy shares worth Rs 1,473 crore Provisional data available with NSE suggest that FPIs turned net buyers of domestic stocks to the tune of Rs 1,473.09 crore on Monday. Domestic institutional investors (DIIs) were net buyers of Indian equities to the tune of Rs 366.24 crore. Rupee ends flat against dollar The rupee closed almost flat at 83.03 against the dollar on Monday as elevated crude oil prices and global inflation worries weighed on the local currency despite a record rally in equities fueled by FII inflows. A weak American currency against major rivals overseas also supported the domestic unit and restricted the fall, forex traders said. Note: With inputs from PTI, Reuters and other agencies
Also read: L&T, PowerGrid, Jupiter Wagons, HFCL, other stocks to watch on September 12, 2023