SGX Nifty tanks 159 points: Wall Street selloff, hawkish Fed comments, weak Asian markets & more
Nifty futures on the Singapore Exchange extended morning slide and were trading 159 points, or 0.89 per cent, lower at 17,694, hinting at a gap-down for the domestic market on Wednesday.
- Mar 8, 2023,
- Updated Mar 8, 2023 8:40 AM IST
Domestic stock indices are likely to see a gap-down opening on Wednesday, as hawkish comments by the US Federal Reserve Chairman Jerome Powell sent Wall Street shares tumbling overnight. Most Asian markets were trading lower, as the dollar hit a three-month high. Here's what you should know before the opening bell: Nifty outlook
Nifty on Monday failed to surpass the key resistance of 17,800. On the daily chart, it closed within the falling channel following an intraday breakout from the said channel, said Rupak De of LKP Securities. A fall below the 17,650 level may trigger a steep correction in NIfty, De said. A sustained trade above 17,750 may induce buying, he said. SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange extended morning slide and were trading 159 points, or 0.89 per cent, lower at 17,694, hinting at a gap-down for the domestic market on Wednesday. Fed signals faster rate hikes
The US Federal Reserve will likely need to raise interest rates more than expected in response to recent strong data and is prepared to move in larger steps if the "totality" of incoming information suggests tougher measures are needed to control inflation, the US Federal Reserve Chairman Jerome Powell told US lawmakers on Tuesday. The remarks were his first since inflation unexpectedly jumped in January and the US government reported an unusually large increase in payroll jobs for the month. Asian shares mostly lower
Asian shares fell in Wednesday's trade on fears the US Fed may increase interest rates aggressively going ahead. MSCI's broadest index of Asia-Pacific shares outside Japan was down 1.55 per cent. Hong Kong's Hang Seng tumbled 2.6 per cent; China's Shanghai Composite was down 0.56 per cent; Korea's Kospi tanked 1.16 per cent; Taiwan's key index was down 0.4 per cent. Japan's Nikkei edged 0.20 per cent higher.Dollar index edges higher
The dollar hit a fresh three-month month high against a basket of currencies on Wednesday after Federal Reserve Chair Jerome Powell's hawkish commentary on interest rates. The index, which measures dollar movement against a basket of six major world currencies, rose 0.04 per cent to 105.653 level. US stocks settle sharply lower
US stock indices settled sharply lower on Tuesday after Federal Reserve Chair Jerome Powell told Congress the central bank will likely need to raise interest rates more than previously expected as it seeks to rein in stubbornly high inflation. Dow Jones tanked 574.98 points, or 1.72 per cent, to 32,856.46. S&P500 declined 62.05 points, or 1.53 per cent, to 3,986.37. Nasdaq Composite dropped 145.41 points, or 1.25 per cent, to 11,530.33. Stocks in F&O ban
No stock would be under F&O ban today. Derivative contracts in a security are banned when they cross 95 per cent of the market-wide position limit (MWPL). No new positions can be created in the derivative contracts of the said security. This prohibition is lifted when the open interest in the stock drops below 80 per cent of the MWPL across exchanges. DIIs buy shares worth Rs 757 crore
Provisional data available with NSE suggests FPIs were buyers of domestic stocks to the tune of Rs 721.37 crore on Monday. Domestic institutional investors (DIIs) were buyers of equities to the tune of Rs 757.23 crore. Rupee rises 5 paise against dollar
The rupee appreciated 5 paise to close at 81.92 against the US dollar on Monday as a positive trend in domestic equities and fresh foreign fund inflows boosted investor sentiment. A decline in crude oil prices and the US dollar edging down in early trade following a rise in risk sentiment also bolstered the local unit. (With Agency inputs)
Also read: SBI, Tata Steel, Infosys: What should be your strategy amid market volatility
Domestic stock indices are likely to see a gap-down opening on Wednesday, as hawkish comments by the US Federal Reserve Chairman Jerome Powell sent Wall Street shares tumbling overnight. Most Asian markets were trading lower, as the dollar hit a three-month high. Here's what you should know before the opening bell: Nifty outlook
Nifty on Monday failed to surpass the key resistance of 17,800. On the daily chart, it closed within the falling channel following an intraday breakout from the said channel, said Rupak De of LKP Securities. A fall below the 17,650 level may trigger a steep correction in NIfty, De said. A sustained trade above 17,750 may induce buying, he said. SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange extended morning slide and were trading 159 points, or 0.89 per cent, lower at 17,694, hinting at a gap-down for the domestic market on Wednesday. Fed signals faster rate hikes
The US Federal Reserve will likely need to raise interest rates more than expected in response to recent strong data and is prepared to move in larger steps if the "totality" of incoming information suggests tougher measures are needed to control inflation, the US Federal Reserve Chairman Jerome Powell told US lawmakers on Tuesday. The remarks were his first since inflation unexpectedly jumped in January and the US government reported an unusually large increase in payroll jobs for the month. Asian shares mostly lower
Asian shares fell in Wednesday's trade on fears the US Fed may increase interest rates aggressively going ahead. MSCI's broadest index of Asia-Pacific shares outside Japan was down 1.55 per cent. Hong Kong's Hang Seng tumbled 2.6 per cent; China's Shanghai Composite was down 0.56 per cent; Korea's Kospi tanked 1.16 per cent; Taiwan's key index was down 0.4 per cent. Japan's Nikkei edged 0.20 per cent higher.Dollar index edges higher
The dollar hit a fresh three-month month high against a basket of currencies on Wednesday after Federal Reserve Chair Jerome Powell's hawkish commentary on interest rates. The index, which measures dollar movement against a basket of six major world currencies, rose 0.04 per cent to 105.653 level. US stocks settle sharply lower
US stock indices settled sharply lower on Tuesday after Federal Reserve Chair Jerome Powell told Congress the central bank will likely need to raise interest rates more than previously expected as it seeks to rein in stubbornly high inflation. Dow Jones tanked 574.98 points, or 1.72 per cent, to 32,856.46. S&P500 declined 62.05 points, or 1.53 per cent, to 3,986.37. Nasdaq Composite dropped 145.41 points, or 1.25 per cent, to 11,530.33. Stocks in F&O ban
No stock would be under F&O ban today. Derivative contracts in a security are banned when they cross 95 per cent of the market-wide position limit (MWPL). No new positions can be created in the derivative contracts of the said security. This prohibition is lifted when the open interest in the stock drops below 80 per cent of the MWPL across exchanges. DIIs buy shares worth Rs 757 crore
Provisional data available with NSE suggests FPIs were buyers of domestic stocks to the tune of Rs 721.37 crore on Monday. Domestic institutional investors (DIIs) were buyers of equities to the tune of Rs 757.23 crore. Rupee rises 5 paise against dollar
The rupee appreciated 5 paise to close at 81.92 against the US dollar on Monday as a positive trend in domestic equities and fresh foreign fund inflows boosted investor sentiment. A decline in crude oil prices and the US dollar edging down in early trade following a rise in risk sentiment also bolstered the local unit. (With Agency inputs)
Also read: SBI, Tata Steel, Infosys: What should be your strategy amid market volatility