SGX Nifty up 21 points: Asian markets, crude oil prices, dollar movement, Nifty outlook & more
Nifty futures on the Singapore Exchange traded 21 points, or 0.11 per cent, higher at 18,725, hinting at a positive start for the domestic market on Tuesday.
- Jun 27, 2023,
- Updated Jun 27, 2023 8:08 AM IST
Domestic stock indices are likely to open with mild gains on Tuesday amid mixed global cues. Asian markets were trading higher with some caution amid geopolitical concerns. US indices settled lower overnight on fall in growth stocks. Back home, the IPO of Cyient DLM will kick off for subscription today. Here's what you should know before the Opening Bell:
Nifty outlook
Nifty’s trend remains complex as long as it stays within the band of 18,500-18,800, said Rupak De, Senior Technical analyst at LKP Securities. A decisive breakout on either side might trigger a directional move, De said. “ Till then. we expect a market where the dips would be bought and rises would be sold into," he added.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 21 points, or 0.11 per cent, higher at 18,725, hinting at a positive start for the domestic market on Tuesday.
Asian stocks rise in early trade
Most Asian markets rose in Tuesday's trade despite concerns over after a brief uprising in Russia and its impact on the oil market. The MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.71 per cent. Australia's ASX 200 gained 0.64 per cent; China's Shanghai rose 0.48 per cent; Hong Kong's Hang Seng surged 1.44 per cent . South Korea's Kospi was flat but Japan's Nikkei declined 0.78 per cent.
Oil prices edge higher for 2nd day
Oil prices edged higher for the second consecutive session on Tuesday, as worries about political instability in Russia and potential supply disruptions counter-balanced concerns about global demand. Brent crude futures rose 6 cents to $74.24 a barrel, while US West Texas Intermediate (WTI) futures gained 10 cents to $69.47 a barrel. On Monday, Brent had climbed 0.5 per cent and the WTI 0.3 per cent.
Dollar index at 102.70 level
The US dollar held its ground against major currencies on Tuesday as tension in Russia simmered and traders looked ahead to US data that may determine the timing of interest rate hikes. The dollar index rose 0.04 per cent to 102.770. The rouble was flat at 84.40 per dollar after hitting its weakest level since March 2022. The greenback traded at 143.43 yen, down 0.06 per cent from late US levels. The euro was flat at $1.09055.
Wall Street stocks settle lower
US stocks closed lower on Monday, as investors were wary of betting on riskier assets before seeing the outcome of Russia's aborted weekend mutiny. Growth stocks were among the biggest weights on the main indexes. The Dow Jones Industrial Average fell 12.72 points, or 0.04 per cent, to 33,714.71; the S&P500 index lost 19.51 points, or 0.45 per cent, at 4,328.82; and the Nasdaq Composite dropped 156.74 points, or 1.16 per cent, to 13,335.78.
Cyient DLM IPO opens today
The Rs 592 crore-initial public offering (IPO) of Cyient DLM kicks off for subscription on Tuesday. The company would sell its shares in the price band of Rs 250-265 apiece with a lot size of 56 equity shares. The three-day stake sale of up to 2,23,39, 623 fresh equity shares will conclude on Friday, June 30.
Stocks in F&O ban
Two stocks- RBL Bank and Hindustan Copper - have been put under the ban by National Stock Exchange (NSE) for Tuesday, June 27. Derivative contracts in a security are banned when it crosses 95 per cent of the market-wide position limit (MWPL). No new positions can be created in the derivative contracts of said security. This prohibition is lifted when the open interest in the stock drops below 80 per cent of the MWPL across exchanges.
FPIs sell shares worth Rs 409 crore
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 409.43 crore on Monday. However, domestic institutional investors (DIIs) turned net buyers of Indian equities to the tune of Rs 250.12 crore.
Rupee falls 8 paise against dollar
The rupee declined by 8 paise to close at 82.04 against the US dollar on Monday amid geopolitical concerns and firming crude oil prices. Volatility in equity markets and FII outflows also weighed on the market sentiment, analysts said.
Note: With inputs from PTI, Reuters and other agencies
Also read: Tata Communications, Infosys, PB Fintech: How should you trade these buzzing stocks?
Also read: Adani Enterprises, Adani Ports, 3 other shares may see $129 million inflows on NSE indices rejig
Domestic stock indices are likely to open with mild gains on Tuesday amid mixed global cues. Asian markets were trading higher with some caution amid geopolitical concerns. US indices settled lower overnight on fall in growth stocks. Back home, the IPO of Cyient DLM will kick off for subscription today. Here's what you should know before the Opening Bell:
Nifty outlook
Nifty’s trend remains complex as long as it stays within the band of 18,500-18,800, said Rupak De, Senior Technical analyst at LKP Securities. A decisive breakout on either side might trigger a directional move, De said. “ Till then. we expect a market where the dips would be bought and rises would be sold into," he added.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 21 points, or 0.11 per cent, higher at 18,725, hinting at a positive start for the domestic market on Tuesday.
Asian stocks rise in early trade
Most Asian markets rose in Tuesday's trade despite concerns over after a brief uprising in Russia and its impact on the oil market. The MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.71 per cent. Australia's ASX 200 gained 0.64 per cent; China's Shanghai rose 0.48 per cent; Hong Kong's Hang Seng surged 1.44 per cent . South Korea's Kospi was flat but Japan's Nikkei declined 0.78 per cent.
Oil prices edge higher for 2nd day
Oil prices edged higher for the second consecutive session on Tuesday, as worries about political instability in Russia and potential supply disruptions counter-balanced concerns about global demand. Brent crude futures rose 6 cents to $74.24 a barrel, while US West Texas Intermediate (WTI) futures gained 10 cents to $69.47 a barrel. On Monday, Brent had climbed 0.5 per cent and the WTI 0.3 per cent.
Dollar index at 102.70 level
The US dollar held its ground against major currencies on Tuesday as tension in Russia simmered and traders looked ahead to US data that may determine the timing of interest rate hikes. The dollar index rose 0.04 per cent to 102.770. The rouble was flat at 84.40 per dollar after hitting its weakest level since March 2022. The greenback traded at 143.43 yen, down 0.06 per cent from late US levels. The euro was flat at $1.09055.
Wall Street stocks settle lower
US stocks closed lower on Monday, as investors were wary of betting on riskier assets before seeing the outcome of Russia's aborted weekend mutiny. Growth stocks were among the biggest weights on the main indexes. The Dow Jones Industrial Average fell 12.72 points, or 0.04 per cent, to 33,714.71; the S&P500 index lost 19.51 points, or 0.45 per cent, at 4,328.82; and the Nasdaq Composite dropped 156.74 points, or 1.16 per cent, to 13,335.78.
Cyient DLM IPO opens today
The Rs 592 crore-initial public offering (IPO) of Cyient DLM kicks off for subscription on Tuesday. The company would sell its shares in the price band of Rs 250-265 apiece with a lot size of 56 equity shares. The three-day stake sale of up to 2,23,39, 623 fresh equity shares will conclude on Friday, June 30.
Stocks in F&O ban
Two stocks- RBL Bank and Hindustan Copper - have been put under the ban by National Stock Exchange (NSE) for Tuesday, June 27. Derivative contracts in a security are banned when it crosses 95 per cent of the market-wide position limit (MWPL). No new positions can be created in the derivative contracts of said security. This prohibition is lifted when the open interest in the stock drops below 80 per cent of the MWPL across exchanges.
FPIs sell shares worth Rs 409 crore
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 409.43 crore on Monday. However, domestic institutional investors (DIIs) turned net buyers of Indian equities to the tune of Rs 250.12 crore.
Rupee falls 8 paise against dollar
The rupee declined by 8 paise to close at 82.04 against the US dollar on Monday amid geopolitical concerns and firming crude oil prices. Volatility in equity markets and FII outflows also weighed on the market sentiment, analysts said.
Note: With inputs from PTI, Reuters and other agencies
Also read: Tata Communications, Infosys, PB Fintech: How should you trade these buzzing stocks?
Also read: Adani Enterprises, Adani Ports, 3 other shares may see $129 million inflows on NSE indices rejig