GIFT Nifty down 15 points: Asian markets, crude oil prices, dollar movement & more

Domestic benchmark indices are likely to open lower on Thursday ahead of the expiry of monthly futures and options contracts. Crude oil prices hit $97 a barrel and Asian stocks opened mostly lower in the early trade, following the suspension of trading in China’s realtor Evergrande in Hong Kong.  US stocks settled mixed overnight. Back home, the listing of Yatra Online will be keenly followed. Here's what you should know before the Opening Bell:

Nifty outlook
Nifty on Wednesday found support at the 50-EMA. The day concluded with the formation of a Bullish Engulfing pattern, said Rupak De, Senior Technical analyst at LKP Securities.  "On the upper side, a resistance is placed at 19,750. A clear breakout is necessary to expect a meaningful rally. A decisive move beyond 19,750 could potentially push the index towards the 19,900 level. On the downside, a support is established at 19,600," he said.

GIFT Nifty signals a tepid start
Nifty futures on the NSE International Exchange traded 15 points, or 0.01 per cent, lower at 19,705 hinting at a muted start for the domestic market on Thursday

Asian stocks open mostly lower
Asian stocks opened mostly lower on Thursday amid the mixed global cues dented by rising US bond yields, a rampant dollar, higher oil prices, tightening financial conditions, deepening growth fears, decreasing risk appetite and increasingly fragile equity markets. The MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.28 per cent. Japan's Nikkei dropped 0.92 per cent; Australia's ASX 200 gained 0.23 per cent; New Zealand's DJ fell 0.22 per cent; China's Shanghai added 0.08 per cent; Hong Kong's Hang Seng tumbled 0.86 per cent; South Korea's Kospi rose 0.09 per cent.

Oil prices nudge higher
US oil jumped nearly $1 a barrel on Thursday to its highest in more than a year as a steep drop in crude stocks in the United States added to worries of tight global supplies from OPEC+ cuts led by Saudi Arabia. US West Texas Intermediate crude futures (WTI) led the charge, rising above $95 for the first time since August last year. WTI was at $94.60 a barrel, up 92 cents, or 1 per cent, by 0145 GMT. Brent crude futures climbed 77 cents, or 0.8 per cent, to $97.32 a barrel after hitting levels not seen since November.

US dollar sticks near 10-month high
The dollar clung near a 10-month high against a basket of its peers on Thursday, keeping the yen under pressure near a key intervention zone as investors size up upbeat US economic data and fresh comments from Federal Reserve officials. The US dollar index hovered around 106.58. The yen last sat at 149.48. The euro was off Wednesday's low of $1.04880, while sterling stood just above its lowest level since March 17.

US stocks settled mixed
S&P 500 eked out a fractional gain on Wednesday after a see-saw session, as investors weighed whether to start bargain hunting following a sell-off fueled by elevated Treasury yields and uncertainty about the path ahead for interest rates. The Dow Jones Industrial Average fell 68.61 points, or 0.2 per cent, to 33,550.27, the S&P 500 gained 0.98 points, or 0.02 per cent, at 4,274.51 and the Nasdaq Composite rose 29.24 points, or 0.22 per cent, to 13,092.85.

Yatra Online to make market debut
Shares of Yatra Online will be listed at the bourses today. The travel and tourism services player raised Rs 775 crore from its primary stake sale. The isse was sold in the range of Rs 135-142 per share with a lot size of 105 equity shares. The issue was open for bidding between September 15-20. The issue was overall subscribed only 1.66 times.

Stocks in F&O ban list
Only two stocks- Delta Corp and India Cements have been put under the F&O segment ban by the National Stock Exchange (NSE) for Thursday, September 28.  Companies where derivative contracts cross 95 per cent of the market-wide position limit are put under bad in the F&O segment.

FPIs sell shares worth Rs 354 crore
Provisional data available with NSE suggest that FPIs were net sellers of domestic stocks to the tune of Rs 354.35 crore on Wednesday. Domestic institutional investors (DIIs) were net buyers of Indian equities to the tune of Rs 386.28 crore.

Rupee rises 6 paise against dollar
The rupee on Wednesday staged a recovery after two days of steep losses to end 6 paise higher at 83.22 against the US dollar on positive cues from domestic equity markets. However, selling pressure from foreign equity investors amid a strong greenback against major crosses overseas and surging crude oil prices weighed on the local unit and restricted the gain, forex traders said.

Note: With inputs from PTI, Reuters and other agencies

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