SGX Nifty up 300 points; here's what changed for market while you were sleeping

2 weeks ago 30

Synopsis

Investors are priming for a bounce across Asian equity markets Friday after slower-than-expected US inflation data indicated smaller Federal Reserve rate hikes and triggered the biggest jump for US shares in two years.

Shutterstock.comForeign portfolio investors (FPIs) net bought stocks worth Rs 36 crore on Thursday, provisional data showed. DIIs continued to book profits and net sold shares to the tune of Rs 967 crore.

Domestic equities are set to snap their two-day losing streak as a lesser-than-expected rise in inflation in the US has soothed the nerves and driven risk-on sentiment.

Here's breaking down the pre-market actions:

STATE OF THE MARKETS SGX Nifty signals a positive startNifty futures on the Singapore Exchange traded 299 points, or 1.65 per cent, higher at 18,396, signaling that Dalal Street was headed for a positive start on Friday.

  • Tech View: Nifty 50 has held above the key support level of 18000 points despite the recent correction. The index could move towards 18200 points if global markets are supportive. Option data suggests immediate trading range in between 17900 to 18300 zones.
  • India VIX: Despite the risk-off mood in the market, the volatility index fell amid closure of positions in the Nifty 50 options ahead of the weekly expiry. The ‘fear gauge’ ended 2.2% lower at 15.5675 points.

Asian markets to jumpInvestors are priming for a bounce across Asian equity markets Friday after slower-than-expected US inflation data indicated smaller Federal Reserve rate hikes and triggered the biggest jump for US shares in two years.

  • S&P 500 futures rose 0.1% as of 9:21 a.m. in Tokyo. The S&P 500 rose 5.5%
  • Nasdaq 100 futures rose 0.2%. The Nasdaq 100 rose 7.5%
  • Euro St...
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