SGX Nifty up 165 points; here's what changed for market while you were sleeping

6 days ago 27


Most Asian markets opened higher on Friday after a mixed close on Wall Street, despite prevailing concerns about growth given stubborn inflation and rising interest rates. MSCI's index of Asia-Pacific shares outside Japan was up 1.02 per cent.

Shutterstock.comIndia 10-year bond rose 0.40 per cent to 7.244 after trading in 7.192-7.293 range on Wednesday.

Domestic stocks may look to snap a five day losing run on Friday, after a late recovery helped US stocks cut losses overnight. Early trends in Asia also point towards a positive start. That said, sentiment may remain fragile at home, as data showed retail inflation in April jumped to an 8-year high of 7.79 per cent, raising bets of more rate hikes by the RBI. Here's breaking down the pre-market actions:

STATE OF THE MARKETS SGX Nifty signals a positive startNifty futures on the Singapore Exchange traded 166 points, or 1.05 per cent, higherat 15,982.50, signaling that Dalal Street was headed for a positive start on Friday.

  • Tech View: Nifty50 on Thursday formed a bearish candle on the daily scale and continued with its lower high-low formation. Even as the index is in oversold territory, as suggested by the 14-day RSI reading of 27, analysts said the trend broadly stays negative and the index could retest a swing low of 15,670 sooner than later.
  • India VIX: The fear gauge jumped more than 6.41 per cent to 24.27 level on Thursday over its previous day close of 22.80.

Read Entire Article