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    SGX Nifty down 50 points; here's what changed for market while you were sleeping

    Synopsis

    Asian stocks traded mostly lower after a decent winning streak and overnight falls of US shares. Those trading higher were supported by a pick-up in tech stocks. MSCI's index of Asia-Pacific shares outside Japan was down by 0.22 per cent.

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    India 10-year bond dropped about 0.32 per cent to 7.49 after trading in 7.43 - 7.56 range on Wednesday.
    After RBI's much-awaited monetary policy, the Indian equity market was set for another negative start on Thursday tracking negative cues from global peers. US stocks settled lower after a choppy session, whereas Asian stocks dropped in early hours. Crude firmed further amid the rising demand. All eyes are set on US inflation numbers, scheduled on Friday. Here's breaking down the pre-market actions:

    STATE OF THE MARKETS

    SGX Nifty signals negative start
    Nifty futures on the Singapore Exchange traded 51.5 points, or 0.32 per cent, lower at 16,297.50, signaling that Dalal Street was headed for a negative start on Thursday.

    • Tech View: After a volatile session, largely affected by rate hike and RBI commentary, the Nifty50 ended with a cut and formed a bearish candle on daily charts on Wednesday. The index opened on a positive note at 16,474.95 but slid to as low as the 16,293.35 level.
    • India VIX: The fear gauge plunged as much as 3 per cent to 19.84 level on Wednesday over its close at 20.42 on Tuesday.

    Asian shares open mostly lower
    Asian stocks traded mostly lower after a decent winning streak and overnight falls of US shares. Those trading higher were supported by a pick-up in tech stocks. MSCI's index of Asia-Pacific shares outside Japan was down by 0.22 per cent.

    • Japan's Nikkei dropped 0.02%
    • Australia's ASX 200 plunged 1.31%
    • New Zealand's DJ slumped 0.86%
    • South Korea's Kospi tanked 0.67%
    • China's Shanghai declined 0.16%
    • Hong Kong's Hang Seng added 0.01%

    US stocks settle lower
    Stocks fell broadly on Wall Street Wednesday, erasing most of their gains for the week, as investors were discouraged to see more evidence of inflation’s impact on businesses and another gloomy outlook on the global economy.

    • Dow Jones plunged 0.81% to 32,910.90
    • S&P 500 tanked 1.08% to 4,115.77
    • Nasdaq slumped 0.73% to 12,086.27

    Yen extends slide
    The yen dropped to a 20-year low on the dollar on Thursday, though most major currency pairs traded cautiously ahead of a highly-anticipated meeting by the European Central Bank, which should offer insights into its monetary policy tightening plans.

    • Dollar index climbed to 102.59
    • Euro was little changed at $1.07130
    • Pound held steady at $1.2534
    • Yen hit new fresh lows at 134.56 per dollar
    • Yuan exchanged hands at 6.6838 against the greenback

    Oil hovers near 13-week high
    Oil prices held near 13-week highs on Thursday, underpinned by robust demand in the world's top consumer United States while demand is expected to rebound in China as COVID-19 curbs across major cities are relaxed.

    Brent crude futures for August nudged up 12 cents to $123.70 a barrel by 0033 GMT, while US West Texas Intermediate crude for July was at $122.17 a barrel, up 6 cents.

    FIIs sell shares worth Rs 2,484 cr
    Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 2,484.25 crore, data available with NSE suggested. However, DIIs remained net buyers to the tune of Rs 1,904.33 crore, data suggests.

    Stocks in F&O ban today
    Only one stock- Delta Corp- remains under the F&O ban for Thursday, June 9. 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: Recovering from its lifetime low, the rupee advanced 10 paise to settle at 77.68 against the US dollar on Wednesday after the RBI raised the interest rate by 50 basis points to tame inflation.

    10-year bonds: India 10-year bond dropped about 0.32 per cent to 7.49 after trading in 7.43 - 7.56 range on Wednesday.

    Call rates: The overnight call money rate weighted average stood at 4.11 per cent on Wednesday, according to RBI data. It moved in a range of 2.35-4.40 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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