Nifty today: SGX Nifty down 15 points; here’s what changed for market while you were sleeping

The bias for Indian equities remains positive, after they gained for three consecutive sessions. Stock-specific action will continue as several companies are due to report earnings. Options data shows that Nifty 50 is all set to top 17500 points, as that strike price call option holds the highest open interest.

Here’s breaking down the pre-market actions:

STATE OF THE MARKETS


SGX Nifty signals a muted start
Nifty futures on the Singapore Exchange traded 14.5 points, or 0.08 per cent, per cent lower at 17,480.50, signaling that Dalal Street was headed for a muted start on Wednesday.

  • Tech View: Nifty 50 has formed a positive candle on daily charts, and is making an attempt to give a breakout on the upside. If it tops 17500 points and sustains above that level, then the index can test 17700 points.
  • India VIX: The volatility index cooled off on Tuesday with the improving risk appetite in the market. The fear gauge ended 5.2% lower at 17.4525 points.

Asian shares extend rally, markets await UK inflation data

Asian shares were mostly higher on Wednesday, with U.S. corporate earnings aiding sentiment, while traders awaited British inflation readings later in the day for clues on how hawkish central banks need to be to fight inflation.

MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.2%, but further gains were capped by slight falls in Chinese shares. China’s mainland bluechips lost 0.2% while Hong Kong’s Hang Sang index fell 0.1%.

US stocks
U.S. stocks closed higher for a second straight day on Tuesday as solid quarterly results from Goldman Sachs and Lockheed Martin lessened worries of a weak earnings season.

  • Dow up 1.12%
  • S&P 500 rises 1.14%
  • Nasdaq gains 0.90%

Oil prices rise on supply woes

Oil prices rose in early Asian trade on Wednesday, paring losses from the previous session, as concern over tight supplies following reports of lower inventories in the United States offset fears of lower demand from top oil importer China.

Brent crude futures rose 73 cents, or 0.8%, to $90.76 a barrel by 0100 GMT. U.S. West Texas Intermediate crude was at $83.95 a barrel, up $1.13, or 1.4%. WTI’s front-month contract expires on Thursday.

FII/DII action
Foreign portfolio investors (FPIs) net sold domestic shares worth Rs. 153.4 crores, provisional data available with NSE suggested. DIIs net bought stocks to the tune of Rs. 2,085 crores.

Stocks in F&O ban today
5 stocks are in ban. Bharat Heavy Electricals,

, , , and are under the F&O ban for Wednesday, October 19. 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.

Rupee: The rupee on Tuesday pared gains and ended at a record closing low of 82.3600 against the dollar. After falling in the previous session, the dollar index rose in the US trading session on Tuesday.

Earnings Wednesday

61 companies are scheduled to report earnings for the quarter ended September.

, , and are among the major ones.

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