STATE OF THE MARKETS
SGX Nifty reports negative start
Nifty futures on the Singapore Stock Exchange traded 44 points, or 0.25%, at 17,285, signaling Dalal Street was heading for a negative start on Monday.
- Technical view: Nifty50 on Wednesday fell for the third session in a row and thus formed a bearish candle on the daily chart with an upper wick, suggesting selling at highs. On a weekly scale, Nifty formed an Evening Doji Star-like candle, analysts said, who believe the index could suffer further.
- India VIX: The fear indicator fell more than 2% to the 17.78 level on Wednesday from its close at 18.16 on Tuesday.
Asian stocks are trading lower
Asian stocks traded mostly lower as markets opened cautiously, with few clues for the market after a Wall Street holiday. The MSCI Asia-Pacific ex-Japan equity index fell 0.36%.
- The Japanese Nikkei lost 2.13%
- The New Zealand DJ added 0.02%
- South Korean Kospi loses 0.08%
- Shanghai in China fell 0.88%
US stocks settle down
Wall Street stocks ended lower as bond yields and the dollar rose on Thursday as investors worried about the potential for aggressive US policy tightening as other central banks around the world moved to cut support .
- The Dow Jones lost 0.33% to 34,451.23
- The S&P 500 plunged 1.21% to 4,392.59
- The Nasdaq fell 2.14% to 13,351.08
Oil prices are rising
Oil prices rose on Monday as worries grew over a tighter global supply, with a worsening crisis in Ukraine raising the prospect of tougher Western sanctions against top exporter Russia.
Brent crude futures rose $1.50, or 1.3%, to $113.20 a barrel, and US West Texas Intermediate futures rose 98 cents, or 0.9 percent , at $107.93 a barrel.
FII sell shares worth Rs 2,061 cr
Net-net, Foreign Portfolio Investors (REITs) became sellers of domestic equities to the tune of Rs 2,061.04 crore, according to data available with NSE. DIIs became net buyers to the tune of Rs 1,410.85 crore, according to the data. REITs withdrew a net sum of Rs 4,518 crore from Indian stocks during the shortened April 11-13 holiday.
Fourth quarter results today
MindTree, Mishtann Foods, Sheetal Cool Products, Swiss Military Consumer Goods, Star Housing Finance, DRC Systems India, SM Gold and SE Power and Earum Pharmaceuticals are the companies to announce their March quarter results today.
F&O stocks are banned today
Only one stock – RBL Bank – is under the F&O ban for Monday. Blackout securities under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.
Rupee: Slipping for the second consecutive session, the rupee plunged 4 paise to close at 76.19 against the US dollar on Wednesday, following a firm greenback overseas and weak domestic macro data.
10-year bonds: Indian 10-year bonds jumped 0.36% to 7.22 after trading in the 7.21-7.28 range on Wednesday.
Call rates: The weighted average overnight money rate stood at 3.44% on Wednesday, according to RBI data. It evolved within a range of 2.20 to 3.80%.