Tuesday, Oct 04, 2022

Key Things To Know Before Market Opens On Thursday

The Nifty futures on the Singapore Exchange traded 140.50 points, or 0.87 per cent, lower at 16,027


The benchmark indices are likely to open in red as indicated by global cues.

The Nifty futures on the Singapore Exchange traded 140.50 points, or 0.87 per cent, lower at 16,027, signaling that Dalal Street was headed for a negative start on Thursday.

Domestic equity markets remained under pressure on Wednesday, marking the fourth straight session of weakness. Selling in index heavyweights dragged the indices lower.

Asian Stocks

Asian stocks fell Thursday after high US inflation bolstered the case for aggressive monetary tightening and sparked a slide on Wall Street.

An Asian share gauge declined amid drops in Hong Kong and Japan and mixed performance in China. US futures stabilized after the S&P 500 hit the lowest since March 2021 and the tech-heavy Nasdaq 100 shed about 3%.

US inflation moderated but topped expectations at 8.3%, signaling persistent price pressures. 

S&P 500 futures rose 0.6%, Nasdaq 100 futures added 0.8%, and Euro Stoxx 50 futures fell 1.5%.

Japan’s Topix index fell 0.3%, Australia’s S&P/ASX 200 Index lost 0.7%, South Korea’s Kospi index fell 0.1%, Hong Kong’s Hang Seng Index retreated 0.7%, while China’s Shanghai Composite Index rose 0.2%. 

Oil prices

Oil prices eased in early Asian trade on Thursday, taking a pause after rising more than 5% in the previous session following new Russian sanctions on some European gas companies. Brent crude futures fell 9 cents to $107.42 a barrel by 0013 GMT. WTI crude futures fell 13 cents to $105.58 a barrel. 

Rupee extends gains

The rupee rose by 9 paise to settle at 77.25 against the US currency in a range-bound trade on Wednesday as the dollar retreated from its 20-year high levels and bond yields eased to below 3 per cent mark.

Stocks in News

Birla Corporation, Petronet LNG, Pfizer, Hindalco Industries, UltraTech Cement, Vedanta, Future Retail, Vodafone Idea

Sensex, Nifty on Wednesday

The Sensex and Nifty spiralled lower for the fourth session on the trot on Wednesday as investors remained on edge ahead of US inflation data, which will give clues on the Federal Reserve's policy tightening trajectory. Despite a firm start, the 30-share BSE Sensex failed to carry forward the momentum and ended at 54,088.39, lower by 276.46 points while the NSE Nifty slipped 72.95 points to settle at 16,167.10.

US Stocks

Stocks fell on Wall Street Wednesday after a report on inflation came in worse than feared.

An early rally faded, leaving the S&P 500 1.6% lower after waffling between gains and losses in morning trading. The slide wiped out gains from a day before, when the benchmark index snapped a three-day losing streak.

The Dow Jones Industrial Average dropped 1% and the Nasdaq fell 3.2% as tech stocks weighed down the broader market. The three major indexes are each on pace for another sharp weekly loss.

FII and DII data

Foreign institutional investors (FIIs) have net sold shares worth Rs 3,609.35 crore, whereas domestic institutional investors (DIIs) remained net buyers, to the tune of Rs 4,181.20 crore worth of shares on May 11, as per provisional data available on the NSE.