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    SGX Nifty down 100 points; here's what changed for market while you were sleeping

    Synopsis

    Asian stocks opened mostly lower after the yen trended lower, offering tailwind to exporters, while investors eyed rising US yields. Markets followed a strong run-up the day before, with traders awaiting the release of key US and Chinese inflation data later in the week. MSCI's index of Asia-Pacific shares outside Japan was down by 0.94 per cent.

    Financial Markets Wall StreetAP
    India 10-year bond jumped about 0.60 per cent to 7.50 after trading in 7.49 - 7.51 range on Monday.
    The Indian equity market was set for another negative start ahead as RBI's monetary policy members continued to discuss ways to tame inflation on Day 2. Weakness in Asian markets also dented sentiments. However, US stocks posted mild gains in overnight trade. Firm dollar and rising crude weigh on sentiments for EMs like India. Here's breaking down the pre-market actions:

    STATE OF THE MARKETS

    SGX Nifty signals negative start
    Nifty futures on the Singapore Exchange traded 103.5 points, or 0.62 per cent, lower at 16,468.50, signaling that Dalal Street was headed for a negative start on Tuesday.

    • Tech View: Nifty50 on Friday erased intraday gains to end lower, forming a long bearish candle on the daily chart. On the weekly scale, it formed a small bullish candle with a long upper wick, suggesting selling pressure at higher levels. Analysts see support at 16,400 while they see resistance at 17,000 level.
    • India VIX: The fear gauge gained more than a per cent to 20.20 level on Monday over its close at 19.98 on Friday.

    Asian shares trade mostly lower
    Asian stocks opened mostly lower after the yen trended lower, offering tailwind to exporters, while investors eyed rising US yields. Markets followed a strong run-up the day before, with traders awaiting the release of key US and Chinese inflation data later in the week. MSCI's index of Asia-Pacific shares outside Japan was down by 0.94 per cent.

    • Japan's Nikkei gained 0.40%
    • Australia's ASX 200 dropped 0.88%
    • New Zealand's DJ slipped 1.34%
    • South Korea's Kospi takned 1.37%
    • China's Shanghai declined 0.27%
    • Hong Kong's Hang Seng slipped 0.49%

    Wall Street ends with mild gains
    US stocks ended slightly higher on Monday with gains in Amazon.com and other mega-cap growth shares offset by persistent worries over inflation. Wall Street keeps wrestling with whether the economy will successfully avoid a recession amid rising interest rates and high inflation.

    • Dow Jones added 0.05% to 32,915.78
    • S&P 500 gained 0.31% to 4,121.43
    • Nasdaq jumped 0.40% to 12,061.37

    Dollar extends 20-year high
    The dollar continued its overnight rally into Asian trading hours on Tuesday, hitting fresh two-decade highs versus the yen, as worries about persistent inflation pushed up US bond yields.

    • Dollar index climbed to 102.51
    • Euro was slipped down to $1.0686
    • Pound edged lower to $1.2523
    • Yen struggled at 132.305 per dollar
    • Yuan exchanged hands at 6.6668 against the greenback

    Oil prices rise
    Oil prices inched higher on Tuesday on expected demand recovery in China as it relaxed tough COVID curbs and doubts a higher output target by OPEC+ producers would ease tight supply.

    Brent crude futures were up 19 cents, or 0.2 per cent, at $119.70 barrel at 0050 GMT. US West Texas Intermediate crude futures were up 25 cents, or 0.2%, at $118.75 a barrel. The benchmark hit a three-month high of $120.99 on Monday.

    FIIs sell shares worth Rs 2,398 cr
    Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 2,397.65 crore, data available with NSE suggested. DIIs remained net buyers to the tune of Rs 1,940 crore, data suggests.

    Stocks in F&O ban today
    No stocks are under the F&O ban for Tuesday, June 7. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 per cent of the market-wide position limit.

    MONEY MARKETS
    Rupee: The rupee closed unchanged at 77.66 against the US dollar in muted trade on Monday as participants largely stayed on the sidelines ahead of the RBI's policy decision later this week.

    10-year bonds: India 10-year bond jumped about 0.60 per cent to 7.50 after trading in 7.49 - 7.51 range on Monday.

    Call rates: The overnight call money rate weighted average stood at 4.07 per cent on Friday, according to RBI data. It moved in a range of 2.35-4.45 per cent.





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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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