SGX Nifty down 65 points; here's what changed for market while you were sleeping

1 month ago 50

The hawkish stance of the US Federal Reserve on interest rate hikes dented the risk-on mood in equities globally. Domestic equities are likely to remain subdued on extended profit booking.

Here's breaking down the pre-market actions:

STATE OF THE MARKETS SGX Nifty signals a negative startNifty futures on the Singapore Exchange traded 64 points, or 0.35 per cent, lower at 18,395.50, signaling that Dalal Street was headed for a negative start on Friday.

  • Tech View: Nifty 50 on Thursday formed a large red candle on the daily charts. Now, till it remains below 18442, a further fall could be seen towards 18350 and 18200 levels, whereas resistances are placed at 18535 and 18650 levels
  • India VIX: The hawkish commentary of the US Fed on rate hikes saw risk-on sentiment taking a flight in the market on Thursday. The ‘fear gauge’ rose more than 6% to 13.73 points.

Wall Street slumps U.S. stock indexes closed sharply lower on Thursday, with each of the major averages suffering their biggest daily percentage drop in weeks, as fears intensified that the Federal Reserve's battle against inflation using aggressive interest rate hikes could lead to a recession.

  • Dow down 2.25%
  • S&P 500 dips 2.49%
  • Nasdaq falls 3.23%

Asian shares dropAsian stocks dropped Friday after hawkish signals from central banks sparked a rout in European and US equities.

  • S&P 500 futures were little changed as of 9:30 a.m. Tokyo time. The S&P 500 fell 2.5%
  • Nasdaq 100 futures were little changed. The Nasdaq 100 fell 3.4%
  • Japan’s Topix index fell 0.8%
  • South Korea’s Kospi index fell 0.7%
  • Australia’s S&P/ASX 200 Index fell 0.7%
  • Hong Kong’s Hang Seng futures fell 0.5%

Oil risesOil prices rose in early Asian trade on Friday after falling 2% in the previous session on central bank interest r...

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