SGX Nifty up 55 points; here's what changed for market while you were sleeping

2 months ago 50

Equity markets broke the two-day losing streak on Monday with marginal gains, but the upside was capped as investors remained cautious over financial stress in the US and Europe.

The benchmark BSE Sensex rose 76.11 points, while the broader NSE index gained 37.95 points as authorities globally took steps to contain the banking turmoil, helping dispel some of the contagion fears.

"Going ahead the concerns remain with regards to the global banking crisis which would keep the markets on edge. This week investors would watch out for US and UK GDP data which could provide some cues with regards to Fed’s future course of action with regards to rate pause," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

Here's breaking down the pre-market actions:


SGX Nifty signals a positive start

Nifty futures on the Singapore Exchange traded 53 points, or 0.31 per cent, higher at 17,066, signaling that Dalal Street was headed for positive start on Tuesday.

  • Tech View: The short term trend of Nifty continues to be weak with high volatility. The market is showing lack of strength to sustain the highs. There is a possibility of Nifty revisiting the recent swing lows of 16800 is in the short term. Any attempt of upside bounce towards 17100-17150 levels could be a sell on rise opportunity.
  • India VIX: India VIX, which is a measure of the fear in the markets, rose 1.35% to settle at 15.44 levels.

US stocks mixedThe S&P 500 ended slightly higher on Monday as a deal for Silicon Valley Bank's assets helped to boost bank shares, while a decline in technology-related stocks limited the day's gains.

Asian shares advanceAsian equities opened hi...

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