scorecardresearch
Clear all
Search

COMPANIES

No Data Found

NEWS

No Data Found
Sign in Subscribe
SGX Nifty up 10 points: Asian stocks, crude prices, dollar movement, Q4 earnings & more

SGX Nifty up 10 points: Asian stocks, crude prices, dollar movement, Q4 earnings & more

Nifty futures on the Singapore Exchange traded 10 points, or 0.05 per cent, higher at 18,700, hinting at a flat start for the domestic market on Tuesday.

 Both price and momentum indicators are pointing towards a continuation of the positive momentum and we expect the Nifty to target levels of 18,800 in a short term, said an analyst. Both price and momentum indicators are pointing towards a continuation of the positive momentum and we expect the Nifty to target levels of 18,800 in a short term, said an analyst.

Domestic benchmark indices are likely to open on a flat note on Tuesday amid the mixed global cues. Asian stocks were trading mixed after some of the shares gave up their initial gains. US stocks were shut on Monday, observing a public holiday. US debt ceiling concerns continue to spook the traders across the globe. Back home, the last day of Q4 earnings will guide the sentiments at Dalal street. Here's what you should know before the opening bell:Nifty outlook Nifty's daily momentum indicator which was lagging has finally provided a bullish crossover which is now in sync with the price action. The daily Bollinger bands have begun to expand and with prices moving along the upper band suggests that the uptrend is likely to continue, said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas. "Both price and momentum indicators are pointing towards a continuation of the positive momentum. From a short-term perspective, we expect the Nifty to target levels of 18,800. In terms of levels, 18,700-18800 shall act as an immediate hurdle zone while the gap area formed today in the range 18,500-18,580 shall act as a crucial support zone in the short-term," he said.

SGX Nifty signals a flat start Nifty futures on the Singapore Exchange traded 10 points, or 0.05 per cent, higher at 18,700, hinting at a flat start for the domestic market on Tuesday.Asian stocks opened mostly higher Asian shares moved higher on Tuesday amid optimism and relief as dominant emotions for investors, giving markets a lift as lawmakers in Washington reached a tentative agreement on the US debt ceiling, removing the risk of a catastrophic default. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.23 per cent. Japan's Nikkei fell 0.33 per cent; Australia's ASX 200 shed 0.03 per cent; New Zealand's DJ retreated 0.02 per cent; China's Shanghai added 0.02 per cent; Hong Kong's Hang Seng gained 0.11 per cent and South Korea's Kospi surged 0.97 per cent.Oil rises on US debt deal Oil prices rose on Tuesday as the expectations of the debt ceiling deal in the US, the world's biggest oil user, will spur more demand but fears of further interest rate rises and that OPEC+ will leave output quotas unchanged capped gains. Brent crude futures climbed 35 cents, or 0.5 per cent, to $77.42 a barrel by 0145 GMT after gaining 12 cents on Monday. US West Texas Intermediate (WTI) crude rose 53 cents to $73.20 a barrel, up 0.7 per cent from Friday's close. There was no settlement on Monday because of a US public holiday.Dollar eases amid debt ceiling concerns The US dollar fell on Tuesday against a basket of major currencies but did not drift far from a two-month peak, after a deal over the US debt ceiling lifted risk sentiment, although the agreement could face a rocky path through Congress. The dollar index slipped 0.125 per cent to 104.17. Meanwhile, the euro was up 0.09 per cent at $1.0715, while sterling was last trading at $1.2365, up 0.11 per cent on the day. The yen strengthened 0.28 per cent to 140.06 per dollar.US stocks were closed on Monday Wall Street observed a holiday on Monday on the account of Memorial Day. However, the main indices logged their largest one-day gain in two months on Friday as talks on raising the US debt ceiling progressed. The Dow Jones Industrial Average rose 1.00 per cent to 33,093.34, the S&P 500 gained 1.30 per cent to 4,205.45 and the Nasdaq Composite climbed 2.19 per cent to 12,975.69.Q4 earnings today Adani Ports & Special Economic Zone, Apollo Hospitals Enterprises, Torrent Pharmaceuticals, Mankind Pharma, Patanjali Foods, 3M India, Prestige Estates Projects, Rajesh Exports, Mazagon Dock Shipbuilders, RHI Magnesita, Aegis Logistics, Suzlon Energy, KIOCL, V-Guard Industries, KRBL, EID Parry (India), Lemon Tree Hotels, AstraZeneca Pharma India, Jinal Worldwide, Welspun Corp and Graphite India are among the companies that will announce their earnings for the March 2023 quarter.Stocks in F&O ban Since it is the beginning of the new series, no stock has been put under the ban by National Stock Exchange (NSE) for Tuesday, May 30. Derivative contracts in a security are banned when it crosses 95 per cent of the market-wide position limit (MWPL). No new positions can be created in the derivative contracts of said security. This prohibition is lifted when the open interest in the stock drops below 80 per cent of the MWPL across exchanges.FPIs buy shares worth Rs 1,758 cr Provisional data available with NSE suggest that FPIs turned net buyers of domestic stocks to the tune of Rs 1,758.16 crore on Monday. However, domestic institutional investors (DIIs) turned net buyers of Indian equities to the tune of Rs 853.57 crore.Rupee falls 3 paise against US dollar The rupee depreciated 3 paise to close at 82.63 against the US dollar on Monday, tracking a strong American currency against major rivals overseas. However, a firm trend in domestic equities, foreign capital inflows and lower crude prices restricted the fall in the domestic unit, forex traders said.  

(Note: With inputs from PTI, Reuters and other agencies)

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: May 30, 2023, 8:04 AM IST
Advertisement