GIFT Nifty up 11 points: Asian markets, crude oil prices, dollar movement & more

Domestic benchmark indices are likely to open flat on Wednesday amid a lack of directional cues. Asian peers were undecisive in the early trade while US stocks settled sharply lower overnight. The US dollar continued to gain momentum while crude prices also inched up. Back home, listing of Sai Silk (Kalamandir) and Signature Global (India) will be keenly tracked. The IPO of Valiant Labs will open for bidding today. Here's what you should know before the Opening Bell:

Nifty outlook
Nifty remained largely range-bound on Tuesday, as traders appeared uncertain. The short-term sentiment remains bearish, said Rupak De, Senior Technical analyst at LKP Securities. "The trend is expected to stay bearish as long as Nifty remains below 19,750. A support level is established at 19,600, below which the index may decline further towards 19,250," he added.

GIFT Nifty signals a flat start
Nifty futures on the NSE International Exchange traded 11 points, or 0.06 per cent, higher at 19,619, hinting at a flattish start for the domestic market on Wednesday.

Asian stocks mixed in early trade
Asia stocks traded mixed as benchmark US Treasury yields hit multi-year highs. The MSCI's broadest index of Asia-Pacific shares outside Japan was flat, down 0.01 per cent. Japan's Nikkei dropped 0.56 per cent; Australia's ASX 200 shed 0.23 per cent; New Zealand's DJ declined 0.33 per cent; China's Shanghai gained 0.28 per cent; Hong Kong's Hang Seng surged 0.80 per cent; South Korea's Kospi fell 0.31 per cent.

Oil prices edge higher
Oil prices ticked up in early trade on Wednesday, as markets focused on supply tightness heading into winter and a 'soft landing' for the US economy. Brent crude futures rose 33 cents, or 0.4 per cent, to $94.29 a barrel by 0015 GMT, while US West Texas Intermediate crude futures climbed 31 cents, or 0.3 per cent, to $90.70.

Dollar nears 10-month high

The dollar traded near a 10-month high against its major peers on Wednesday as Treasury yields stayed elevated on the prospect of higher-for-longer US rates, while the yen stumbled towards a closely-watched intervention zone. The US dollar index last stood at 106.20. Sterling slid to a fresh six-month low of $1.2145 in early Asia trade, while the euro languished near Tuesday's six-month low and last bought $1.0569. The elevated US yields have spelt trouble for the yen, which edged marginally higher to 149.01 per dollar.

US stocks tumble as yields rise
Wall Street's main indices ended down over 1 per cent on Tuesday as 10-year Treasury yields held their multi-year highs, with investors still wrestling with prospects for a long period of high interest rates and the economic fallout. The Dow Jones Industrial Average fell 388.00 points, or 1.14 per cent, to 33,618.88, the S&P 500 lost 63.91 points, or 1.47 per cent, to 4,273.53 and the Nasdaq Composite dropped 207.71 points, or 1.57 per cent, to 13,063.61.

Signature Global to make market debut
Shares of Signature Global (India) make its Dalal Street debut today. The Delhi-NCR focused realty firm raised Rs 730 crore from its primary stake sale. The issue was sold in the range of Rs 366-385 per share with a lot size of 38 equity shares. Investors could bid for the issue between September 20-22.

Sai Silk (Kalamandir) to list today
Shares of Sai Silk (Kalamanadir) will be listed at the bourses today. The ethnic apparel player raised Rs 1,201 crore from its primary stake sale. The issue was sold in the range of Rs 210-222 per share with a lot size of 67 equity shares. The issue was open for bidding between September 20-22.

Valiant Laboratories IPO to kick off
The Rs 156.5 crore- initial public offering (IPO) of Valiant Laboratories will open for bidding on Wednesday, September 27 and can be subscribed till Friday, September 29. The pharmaceutical ingredient manufacturing company is offering its shares in the price band of Rs 133-140 apiece with a lot size of 105 equity shares.

Stocks in F&O ban
As many as six stocks have been put under the F&O segment ban by the National Stock Exchange (NSE) for Wednesday, September 27. New entrants- Delta Corp and India Cements will join retentions namely- Balrampur Chini Mills, Canara Bank, Hindustan Copper and Indiabulls Housing Finance in the ban list of NSE.

FPIs sell shares worth Rs 693 crore
Provisional data available with NSE suggest that FPIs were net sellers of domestic stocks to the tune of Rs 693.47 crore on Tuesday. Domestic institutional investors (DIIs) were net buyers of Indian equities to the tune of Rs 714.75 crore.

Rupee falls 15 paise against dollar
The rupee stayed on the downward track for the second straight day to settle 15 paise lower at 83.28 against the US dollar on Tuesday due to a firm greenback against major currencies overseas and persistent foreign capital outflows. Besides, weak equity market sentiment and elevated levels of crude oil prices - hovering above $92 a barrel - weighed on the domestic currency, forex traders said.

Note: With inputs from PTI, Reuters and other agencies

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