GIFT Nifty up 33 points: Asian markets, crude oil prices, dollar movement & more
Nifty futures on the NSE International Exchange traded 33 points, or 0.16 per cent, higher at 20,179, hinting at a positive start for the domestic market on Thursday.
- Sep 14, 2023,
- Updated Sep 14, 2023 8:20 AM IST
Domestic equity indices are likely to open higher on Thursday, tracking positive global cues. Most Asian indices were up in the early trade, even as US stocks settled mixed overnight. The much awaited US Inflation data came in line with Street expectations. Back home, the IPOs of Zaggle Prepaid Ocean Services and SAMHI Hotels for kick-off for bidding on Tuesday. Here's what you should know before the Opening Bell: Nifty outlook The prevailing sentiment remains optimistic, contingent on Nifty put writers safeguarding the 19,900 level, said Rupak De, Senior Technical analyst at LKP Securities. "A drop below 19,900 could unsettling put writers, potentially triggering market corrections. On the upside, the 20,100-20,150 range is poised to act as resistance. A clear breakthrough above 20,150 might propel Nifty into a sustained upward trend," he added. GIFT Nifty signals a positive start Nifty futures on the NSE International Exchange traded 33 points, or 0.16 per cent, higher at 20,179, hinting at a positive start for the domestic market on Thursday. Most Asian indices rise in early trade Asian markets were off with a positive open on Thursday after investors interpreted the latest reading of US inflation as confirmation the Federal Reserve will not raise interest rates next week and could extend its pause further. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.25 per cent. Japan's Nikkei surged 0.96 per cent; Australia's ASX 200 gained 0.25 per cent; New Zealand's DJ dropped 0.89 per cent; and China's Shanghai added 0.01 per cent; Hong Kong's Hang Seng fell 0.18 per cent and South Korea's Kospi gained 0.71 per cent. Oil prices gain on hopes of tight supply Oil prices edged higher on Thursday, after dipping slightly in the previous session, as markets refocused on expectations of tight crude supply for the rest of 2023. International benchmark Brent futures climbed 17 cents to $92.05 a barrel at 12:02 GMT, while US West Texas Intermediate crude (WTI) rose 19 cents to $88.71. Dollar recovers against Japanese yen The US dollar recovered some of its recent losses on the yen, up 0.2 per cent to 147.35 yen after comments from Japan's top central banker on a possible early exit from its negative interest rate policy sent the yen soaring. The euro firmed 30 pips to $1.0765 on the Reuters story while markets moved to favour a rate hike from the ECB on Thursday with a 75 per cent probability, compared with a split chance previously. SAMHI Hotels IPO opens today The Rs 1,370 crore initial public offering (IPO) of SAMHI Hotels will open for bidding on Thursday, September 14. The hotel chain player is selling its shares in the range of Rs 119-126 apiece, with a lot size of 119 equity shares and in multiples thereof. The three-day bidding will conclude on Monday, September 18. Zaggle Prepaid IPO opens today The Rs 563.38 crore initial public offering (IPO) of Zaggle Prepaid Ocean Services kicks off for subscription today. The three-day bidding will conclude on Monday, September 18. The fintech player will be selling its shares in the range of Rs 156-164 apiece, with a lot size of 90 equity shares and in multiples thereof. 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 Thursday, September 14. New entrants, namely REC will join the retentions including including new entrants like Indian Energy Exchange (IEX), National Aluminium Company (Nalco), Manappuram Finance, Steel Authority of India (SAIL), Delta Corp, Hindustan Copper, Indiabulls Housing Finance and India Cements.
FPIs sell shares worth Rs 1,632 crore Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 1,631.63 crore on Wednesday. Domestic institutional investors (DIIs) were net buyers of Indian equities to the tune of Rs 849.86 crore. Rupee falls 6 paise against dollar The rupee depreciated by 6 paise to close at 83.01 against the US dollar on Wednesday, weighed down by a surge in crude oil prices and strong American currency overseas. However, a positive trend in domestic markets and upbeat macroeconomic data from India cushioned the downside for the local unit, forex traders said. Note: With inputs from PTI, Reuters and other agencies
Domestic equity indices are likely to open higher on Thursday, tracking positive global cues. Most Asian indices were up in the early trade, even as US stocks settled mixed overnight. The much awaited US Inflation data came in line with Street expectations. Back home, the IPOs of Zaggle Prepaid Ocean Services and SAMHI Hotels for kick-off for bidding on Tuesday. Here's what you should know before the Opening Bell: Nifty outlook The prevailing sentiment remains optimistic, contingent on Nifty put writers safeguarding the 19,900 level, said Rupak De, Senior Technical analyst at LKP Securities. "A drop below 19,900 could unsettling put writers, potentially triggering market corrections. On the upside, the 20,100-20,150 range is poised to act as resistance. A clear breakthrough above 20,150 might propel Nifty into a sustained upward trend," he added. GIFT Nifty signals a positive start Nifty futures on the NSE International Exchange traded 33 points, or 0.16 per cent, higher at 20,179, hinting at a positive start for the domestic market on Thursday. Most Asian indices rise in early trade Asian markets were off with a positive open on Thursday after investors interpreted the latest reading of US inflation as confirmation the Federal Reserve will not raise interest rates next week and could extend its pause further. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.25 per cent. Japan's Nikkei surged 0.96 per cent; Australia's ASX 200 gained 0.25 per cent; New Zealand's DJ dropped 0.89 per cent; and China's Shanghai added 0.01 per cent; Hong Kong's Hang Seng fell 0.18 per cent and South Korea's Kospi gained 0.71 per cent. Oil prices gain on hopes of tight supply Oil prices edged higher on Thursday, after dipping slightly in the previous session, as markets refocused on expectations of tight crude supply for the rest of 2023. International benchmark Brent futures climbed 17 cents to $92.05 a barrel at 12:02 GMT, while US West Texas Intermediate crude (WTI) rose 19 cents to $88.71. Dollar recovers against Japanese yen The US dollar recovered some of its recent losses on the yen, up 0.2 per cent to 147.35 yen after comments from Japan's top central banker on a possible early exit from its negative interest rate policy sent the yen soaring. The euro firmed 30 pips to $1.0765 on the Reuters story while markets moved to favour a rate hike from the ECB on Thursday with a 75 per cent probability, compared with a split chance previously. SAMHI Hotels IPO opens today The Rs 1,370 crore initial public offering (IPO) of SAMHI Hotels will open for bidding on Thursday, September 14. The hotel chain player is selling its shares in the range of Rs 119-126 apiece, with a lot size of 119 equity shares and in multiples thereof. The three-day bidding will conclude on Monday, September 18. Zaggle Prepaid IPO opens today The Rs 563.38 crore initial public offering (IPO) of Zaggle Prepaid Ocean Services kicks off for subscription today. The three-day bidding will conclude on Monday, September 18. The fintech player will be selling its shares in the range of Rs 156-164 apiece, with a lot size of 90 equity shares and in multiples thereof. 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 Thursday, September 14. New entrants, namely REC will join the retentions including including new entrants like Indian Energy Exchange (IEX), National Aluminium Company (Nalco), Manappuram Finance, Steel Authority of India (SAIL), Delta Corp, Hindustan Copper, Indiabulls Housing Finance and India Cements.
FPIs sell shares worth Rs 1,632 crore Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 1,631.63 crore on Wednesday. Domestic institutional investors (DIIs) were net buyers of Indian equities to the tune of Rs 849.86 crore. Rupee falls 6 paise against dollar The rupee depreciated by 6 paise to close at 83.01 against the US dollar on Wednesday, weighed down by a surge in crude oil prices and strong American currency overseas. However, a positive trend in domestic markets and upbeat macroeconomic data from India cushioned the downside for the local unit, forex traders said. Note: With inputs from PTI, Reuters and other agencies