STATE OF THE MARKETS
SGX Nifty signals a negative start
Nifty futures on Singapore Exchange traded 27 points, or 0.16 per cent, lower at 16,653.50, signaling that Dalal Street was headed for a negative start on Thursday.
- Tech View: The larger degree trend for Nifty50 is still positive but the ‘rejection’ candle for Wednesday suggests there could be a pause in the ongoing rally.
- India VIX: The fear gauge gained more than 2 per cent to 13.50 level on Wednesday over its close at 13.19 on Tuesday.
Asian stocks mostly lower
Most Asian markets fell on Thursday amid concerns over virus spread. A record-high closing for US stocks failed to revive sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan declined 0.19 per cent.
- Japan’s Nikkei inched up 0.04%
- Korea’s Kospi declined 0.12%
- Australia’s ASX 200 tanked 0.50%
- China’s Shanghai shed 0.31%
- Hong Kong’s Hang Seng fell 0.52%
Nasdaq, S&P500 at new highs
Wall Street stocks gained overnight, with chipmakers and financials helping to push the S&P500 index and the Nasdaq Composite to record closing highs, as investors look to the upcoming Jackson Hole Symposium for assurances that Federal Reserve’s timeline for policy tightening remains intact.
- Dow Jones added 0.11% to 35,405.50
- S&P 500 gained 0.22% to 4,496.19
- Nasdaq climbed 0.15% to 15,041.86
Dollar on back foot as Delta worries ease
The dollar hovered near a one-week low against major peers on Thursday amid optimism the Delta coronavirus variant won’t derail a global economic recovery, with investors now eyeing the Fed’s Jackson Hole symposium on Friday for clues on the timing of a tapering of monetary stimulus.
- Dollar index edged up to 92.867
- Euro held steady at $1.1765
- Pound moved up to $1.3764
- Yen slipped to 110.06 per dollar
- Yuan gained to 6.4770 against the greenback
FPIs sell shares worth Rs 1,072 crore
Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 1,071.83 crore, data available with NSE suggested. DIIs were net sellers to the tune of Rs 151.39 crore, data suggests.
MONEY MARKETS
Rupee: The rupee on Wednesday declined by 5 paise to close at 74.24 against the US currency due to a stronger dollar in the overseas markets.
10-year bond: India 10-year bond yield eased 0.14 per cent to 6.24 after trading in 6.24 – 6.27 range.
Call rates: The overnight call money rate weighted average stood at 3.15 per cent on Tuesday, according to RBI data. It moved in a range of 1.95-3.40 per cent.
DATA/EVENTS TO WATCH
- JP Stock Investment by Foreigners 21/AUG (5:20 am)
- JP Foreign Bond Investment 21/AUG (5:20 am)
- DE GfK Consumer Confidence…
Read More: Nifty today: SGX Nifty down 25 points; here’s what changed for market