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    SGX Nifty down 55 points; here's what changed for market while you were sleeping

    Synopsis

    Radiant Cash Management Services is set to make its debut on the bourses on Wednesday. Trend in the grey market indicates that the stock could list at a marginal premium to the issue price of Rs 99. In the unofficial market, the stock was trading at a premium of Rs 7.

    market-shutterShutterstock.com
    Companies in the UK saw output declining amid lesser number of orders and higher prices. The manufacturing PMI came in at 45.3 in December, down from 46.5 in November.
    Domestic equities will continue to follow global markets for direction, but stock-specific action will be seen in the broader market, as companies release their provisional business updates for the December quarter. Positioning in the options of Nifty 50 suggests a narrow trading range of 18000-18300 for the Nifty 50.

    Here's breaking down the pre-market actions:

    STATE OF THE MARKETS

    SGX Nifty signals a negative start
    Nifty futures on the Singapore Exchange traded 53.5 points, or 0.29 per cent, lower at 18,252.50, signaling that Dalal Street was headed for a negative start on Wednesday.

    • Tech View: The Nifty formed a bullish candle on the daily charts on Tuesday. It has to continue to hold above 18181 level, for an upmove towards 18350 and then 18442 levels, whereas supports are placed at 18150 and 18081 levels.
    • India VIX: The volatility gauge fell further on Tuesday amid the thin trade in markets. The index ended 2% down at 14.3850 points.

    Asian stocks mixed
    Shares in Asia were mixed Wednesday after a decline in US stocks and the price of oil signaled unease about the dimming outlook for the global economy. Treasuries, the dollar and the yen all stabilized after rallying Tuesday.

    MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.91%, set for a third straight day of gains for the year. The index fell 20% in 2022. Japan's Nikkei lost 1.12% in early trade, while Australia's S&P/ASX 200 index rose 1.28%.

    • S&P 500 futures were little changed as of 9:32 a.m. Tokyo time. The S&P 500 fell 0.4%
    • Nasdaq 100 futures rose 0.2%. The Nasdaq 100 fell 0.7%
    • Hang Seng futures rose 0.5%
    • Japan’s Topix fell 1%
    • Australia’s S&P/ASX 200 rose 1.3%
    • Euro Stoxx 50 futures were little changed

    US stocks fall
    Wall Street's main indexes closed lower on the first trading day of 2023 with the biggest drags from Tesla and Apple, while investors worried about the Federal Reserve's interest-rate hiking path as they awaited minutes from its December meeting.

    • Dow dips 0.03%,
    • S&P down 0.40%,
    • Nasdaq falls 0.76%

    Dollar rises
    The euro nursed losses on Wednesday and has helped the dollar to make a strong start to 2023, after a surprise slowdown in German inflation rallied bunds and sent the common currency sliding.

    Oil steady
    Oil prices held their ground on Wednesday after tumbling in the previous session as markets braced for minutes from the U.S. Federal Reserve's December policy meeting.

    FII/DII action
    Foreign portfolio investors (FPIs) on Tuesday net sold shares worth Rs 628 crore, provisional data showed. DIIs, however, net bought shares to the tune of Rs 351 crore.

    Rupee: The Indian currency fell to an over 10-week low against the dollar on Tuesday amid the rise in the dollar index. The rupee settled at 82.88 a dollar, compared with 82.7375 in the previous session.


    Macro news
    * Companies in the UK saw output declining amid lesser number of orders and higher prices. The manufacturing PMI came in at 45.3 in December, down from 46.5 in November.

    IPO watch
    * Radiant Cash Management Services is set to make its debut on the bourses on Wednesday. Trend in the grey market indicates that the stock could list at a marginal premium to the issue price of Rs 99. In the unofficial market, the stock was trading at a premium of Rs 7.

    (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)




    ( Originally published on Jan 03, 2023 )
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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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