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SGX Nifty down 35 points: Asian stocks, dollar movement, crude prices, Q4 earnings & more

SGX Nifty down 35 points: Asian stocks, dollar movement, crude prices, Q4 earnings & more

Nifty futures on the Singapore Exchange traded 34.50 points, or 0.19 per cent, lower at 17,823, hinting at a negative start for the domestic market on Wednesday.

Pawan Kumar Nahar
Pawan Kumar Nahar
  • Updated Apr 26, 2023 8:10 AM IST
SGX Nifty down 35 points: Asian stocks, dollar movement, crude prices, Q4 earnings & moreNifty’s upside resistance is visible at 17,800 level. If the index breaches this level, it may move higher towards the 18,000-mark, said an analyst.

Domestic stock indices are likely to open lower on Wednesday, tracking an overnight fall in US stocks. Asian stocks were trading mixed. At home, all eyes would be on quarterly earnings of Maruti Suzuki, Bajaj Finance, HDFC Life Insurance and SBI Life, among others . Here's what you should know before the Opening Bell:Nifty outlook Nifty continued to remain in the buy zone despite forming a Doji-like pattern on the daily chart. The index remains above its critical moving averages, suggesting a positive trend, said Rupak De of  LKP Securities. Nifty’s upside resistance is visible at 17,800 level. If the index breaches this level, it may move higher towards the 18,000-mark, he said.  On the lower end, De expects support at 17,700.SGX Nifty signals a negative start Nifty futures on the Singapore Exchange traded 34.50 points, or 0.19 per cent, lower at 17,823, hinting at a negative start for the domestic market on Wednesday.Asian shares mixed

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Asian Stocks were trading mixed on Wednesday, despite the unholy trinity of US developments on Tuesday - poor corporate earnings, a bank's value going up in smoke and slumping consumer confidence. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.20 per cent. Japan's Nikkei dropped 0.37 per cent; China's Shanghai added 0.03 per cent; Hong Kong's Hang Seng gained 0.15 per cent while Korea's Kospi rose 0.29 per cent.

Oil prices up in morning trade Oil prices rose in early Asian trade on Wednesday after a US trade group reported a significant draw in crude oil stocks ahead of the government's data release. Brent crude rose by 16 cents, or 0.2 per cent, to $80.93 a barrel. US West Texas Intermediate crude rose 25 cents, or 0.3 per cent, to $77.32 a barrel.Dollar index edges higher The US dollar and the yen, both safe haven assets, were mostly steady after spiking higher overnight as renewed concerns over the US banking sector and economy dented risk sentiment. The dollar index nudged 0.01 per cent higher to 101.80 following a 0.5 per cent increase overnight. The index is down 0.76 per cent for the month. The Japanese yen inched up 0.01 per cent to 133.69 per dollar. The euro was up 0.04 per cent at $1.0976. Sterling was last trading at $1.2411, up 0.02 per cent on the day.US indices drop up to 2% Wall Street's major indices suffered their deepest declines this month, as a downbeat UPS forecast exacerbated investor concerns about a slowing US economy while plunging deposits at regional First Republic Bank added to jitters about the bank sector's health. The Dow Jones Industrial Average fell 344.57 points, or 1.02 per cent, to 33,530.83; and the S&P 500 lost 65.41 points, or 1.58 per cent, at 4,071.63, with both marking their biggest one-day percentage losses since March 22. The Nasdaq Composite dropped 238.05 points, or 1.98 per cent, to 11,799.16 in its biggest one-day percentage decline since March 9.Q4 earnings today

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Bajaj Finance, Maruti Suzuki, HDFC Life Insurance Company, SBI Life Insurance Company, Indus Towers, L&T Technology Services, Oracle Financial Services Software, Voltas, Syngene International, Poonawala Fincorp, KPIT Technologies, IIFL Finance, Tanla Platform, Can Fin Homes, UTI Asset Management Company and Shoppers Stop are among the companies that will announce their earnings for the March 2023 quarter.

Stocks in F&O ban Only one stock- Zee Entertainment Enterprises- has been put under F&O ban by National Stock Exchange (NSE) for Wednesday, April 26. 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 sell shares worth Rs 407 crore Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 407.35 crore on Tuesday. However, domestic institutional investors (DIIs) turned net buyers of Indian equities to the tune of Rs 563.61 crore.Rupee falls 3 paise against dollar The rupee depreciated 3 paise to close at 81.95 against the US dollar on Tuesday, pressured by a strong greenback overseas and sustained foreign fund outflows. At the interbank foreign exchange market, the local unit opened at 81.95 against the US currency and finally closed at 81.95 against the greenback, registering a fall of 3 paise from its previous close.Note: With inputs from PTI, Reuters and other agencies

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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: Apr 26, 2023 8:10 AM IST
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