SGX Nifty down 310 points; here's what changed for market while you were sleeping

2 weeks ago 39

Synopsis

Asian stocks sank on Monday and bond yields ticked higher, as red-hot US inflation reignited worries about even more aggressive Federal Reserve policy tightening, and a COVID-19 warning from Beijing added to concerns about global growth. MSCI's index of Asia-Pacific shares outside Japan was down by 1.99 per cent.

Shutterstock.comIndia 10-year bond gained about 0.31 per cent to 7.52 after trading in 7.50 - 7.53 range on Friday.

Indian equity markets are set to kick off the new week on a gloomy note, tracking the broad-based selloff in the global equity markets. The inflationary numbers across the economies are spooking the traders. Asian stocks were trading in deep red in the early hours, whereas US shares dropped sharply over the weekend trade. India's inflation and the Fed's meeting would be key factors for this week. Here's breaking down the pre-market actions:

STATE OF THE MARKETS SGX Nifty signals a negative startNifty futures on the Singapore Exchange traded 312 points, or 1.93 per cent, lower at 15,873, signalling that Dalal Street was headed for a negative start on Monday.

  • Tech View: NSE Nifty index crumbled under selling pressure thanks to the declining rupee and caution ahead of US inflation data. The index filled the gap on the downside. Some analysts believe, the Nifty has turned bearish now.
  • India
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