SGX Nifty down 380 points; here's what changed for market while you were sleeping

4 weeks ago 43

In line with the bloodbath seen in global peers, Indian equity markets are set to kick off the new week on a gap-down note. US stocks settled sharply lower on Friday after Powell's speech, whereas Asian stocks felt the aftershocks on Monday as they traded with big cuts too. The US Fed has signalled more rate hikes in the near term. Back home, all eyes are set on

' 45th annual general meeting. Here's breaking down the pre-market actions:

STATE OF THE MARKETS SGX Nifty signals a negative startNifty futures on the Singapore Exchange traded 380.5 points, or 2.15 per cent, lower at 17,278.5, signalling that Dalal Street was headed for a negative start on Monday.

  • Tech View: Nifty50 on Friday settled higher but formed a small bearish candle on the daily chart. On the weekly chart, the index formed a bearish candle with a long lower wick. Analysts said that the index may face resistance near 17,720-725 level while they saw 17,400 to act as a strong support going ahead.
  • India VIX: The fear gauge plunged as much as 7 per cent to 18.22 level on Friday over its close at 19.57 on Thursday.

Asian stocks tumble at openMajor Asian stocks opened lower Monday after US Federal Reserve Chair Jerome Powell declared his commitment to rate hikes to fight inflation. MSCI's index of Asia-Pacific shares outside Japan was trading 1.81 per cent lower.

  • Japan's Nikkei plunged 2.80...
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