Nifty today: SGX Nifty down 70 points; here’s what changed for market while you were sleeping

Domestic stock markets may open lower on Friday amid weak signals from global and other Asian markets. Wall Street ended overnight on the red mark, falling for the third consecutive day amid the Fed’s aggressive stance. Major Asian markets also traded lower.

Here’s a breakdown of the pre-market actions:

market conditions

SGX Nifty signs off negative
Nifty futures were trading 68 points or 0.39 per cent lower at 17,571 on the Singapore Exchange, indicating that Dalal Street was headed for a negative start on Friday.

  • Tech View: Despite intraday volatility, the index closed above 17600 for the fourth consecutive day. If the index fails to sustain the support level of 17,532 on Thursday, then the next support is placed at the level of 17500-17430, suggest experts.

  • India VIX: On Thursday, the fear gauge fell by 2.64 percent to a level of 18.81.

Asian markets fall for the fourth day
Asian stocks posted a fourth straight weekly decline on Friday and bonds took major losses as investors scrambled to hold on to the US Federal Reserve’s interest rate outlook while currency markets were on the edge of a wild weekend.

Oil prices rise as Iran deal stalls
Oil prices rose in early Asian trade on Friday on the possibility that a stalled Iran nuclear deal and Moscow’s new mobilization campaign in the invasion of Ukraine would further restrict global supplies. Brent crude futures were up 16 cents, or 0.2%, at $90.62 a barrel by 0020 GMT, while US West Texas Intermediate (WTI) crude futures rose 22 cents to $83.71 a barrel.

Wall Street ends third day
Nine of the 11 major S&P sectors fell, with consumer discretionary and financial stocks falling 2.2% and 1.7%, respectively. The Dow Jones Industrial Average fell 107.1 points, or 0.35%, to 30,076.68, the S&P 500 fell 31.94 points, or 0.84%, to 3,757.99, and the Nasdaq Composite fell 153.39 points, or 1.37%, to 11,066.81.

FPIs sold equity worth Rs 2,509 crore
Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks worth Rs 2,509.55 crore, suggested data available with the NSE. The data shows that DII was the buyer of Rs 263 crore.


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