SGX Nifty futures indicate a lower opening on Dalal Street today: 10 things to know before you begin your day
Indian equity benchmarks Nifty and Sensex are likely to start the first session of June on a negative note, owing to largely weak moves across global markets. Singapore Exchange (SGX) Nifty futures, an early indicator of the Nifty 50 index, pointed to a weaker opening ahead on Dalal Street. Here's a list of 10 things you need to know before the Indian share market resumes trading.
Indian equity benchmarks Nifty and Sensex are likely to start the first session of June on a negative note, amid mixed moves across Asian markets following a weak session on Wall Street. Singapore Exchange (SGX) Nifty futures, an early indicator of the Nifty 50 index, pointed to a weaker opening ahead on Dalal Street.
Here's a list of the top 10 things to know before you start your day:
- SGX Nifty futures: Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty50 index — were down 59 points or 0.3 per cent at 18,605 at the last count ahead of the opening bell on Dalal Street, having declined as much as 117.5 points to 18,546.5 earlier in the day.
- Asian markets: A majority of Asian markets succumbed to negative territory on Thursday, with MSCI's broadest index of Asia Pacific shares outside Japan trading 0.6 per cent higher. Japan's Nikkei 225 was up 0.3 per cent and China's Shanghai Composite up 0.4 per cent, but South Korea's KOSPI was down 0.3 per cent and Singapore's Straits Times down 0.1 per cent.
- Wall Street: Overnight, the three main US benchmarks declined, though a persistent rise in Nvidia shares aided sentiment in chipmaker stocks. The S&P 500, the Dow Jones and the Nasdaq Composite each finished the day around half a per cent weaker.
- India GDP data: Official data released on Wednesday evening showed the Indian economy expanded 6.1 per cent in the March quarter, as against four per cent a year ago.
- Rupee vs dollar: The rupee declined by eight paise to end at 82.75 against the US dollar on Wednesday, falling for a third straight day.
- Dollar index: The US dollar retreated from a more than two-month high on Wednesday after a Fed official warned any decision by the US central bank to hold its benchmark overnight interest rate firm at an upcoming meeting would not mean that it is done tightening monetary policy.
- Crude oil: Benchmark oil rates fell in early trade on Thursday, declining for a third straight session, after data showed an unexpected, large build in US crude stocks last week, triggering fears of an oversupply amid signs of weaker Chinese demand. Brent crude futures were last down by 40 cents or 0.6 per cent at $72.2 a barrel.
- US debt ceiling update: A divided US House of Representatives passed a bill to suspend the $31.4 trillion debt ceiling on Wednesday, with majority support from both Democrats and Republicans to overcome opposition led by hardline conservatives and avoid a catastrophic default.
- FII, DII flow: May emerged the best month for Dalal Street investors in 26 months in terms of foreign institutional inflows. FIIs net purchased Indian shares worth Rs 27,856.5 crore for the month, a period in which net sales by domestic institutional investors (DIIs) stood at Rs 3,306.4 crore, according to provisional exchange data.
- Over to RBI: With the earnings season now behind, investors await the outcome of a scheduled bi-monthly review by the RBI, from June 6 to June 8, for cues.
(With inputs from agencies)
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