SGX Nifty falls 315 points; here's what changed for markets while you were sleeping

1 month ago 30

Synopsis

Asian stocks tracked a steep Wall Street selloff on Thursday, as investors fretted over rising global inflation, China's zero-COVID policy and the Ukraine war, while the safe-haven dollar held most of its strong overnight gains. MSCI's index of Asia-Pacific shares outside Japan was down by 2.14 per cent.

iStockFour stocks - GNFC, Indiabulls Housing Finance, Punjab National Bank and Delta Corp - are under the F&O ban for Thursday, May 19.

The domestic equity market was headed for another gap-down start on Thursday, tracking pessimistic global cues. Asian peers dropped sharply lower in early hours, whereas US stocks closed in deep red overnight. Rising inflationary concerns and fear of global economic slowdown is hurting the market sentiments. Here's breaking down the pre-market actions:

STATE OF THE MARKETS SGX Nifty signals negative startNifty futures on the Singapore Exchange traded 317.5 points, or 1.96 per cent, lower at 15,918, signaling that Dalal Street was headed for a negative start on Thursday.

  • Tech View: Nifty50 on Wednesday failed to capitalise on a firm start, as it ended up forming a small bearish candle on the daily chart, with a long upper wick, reflecting selling pressure near the 16,400 level. But analysts are unfazed and see no major impact on the positive momentum post Tuesday's big bullish candle.
  • India VIX: The fear gauge dropped close to 2 per cent to 22.30 level on Wednesday over its close at 22.74 on Tuesday.

Asian shares trade in deep redAsian stocks tracked a steep Wall Street selloff on Thursday, as investors fretted over rising global inflation, China's zero-COVID policy and the Ukraine war, while the safe-haven dollar held most of its strong overnight gains. MSCI's index of Asia-Pacific shares outside Japan was down by 2.14 per cent.

  • Japan's Nikkei tanked 2.54%
  • Australia's ASX 200 plunged 1.50%
  • South Korea's Kospi retreated 1.54%
  • New Zealand's DJ dropped 1.22%
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