Sensex, Nifty may start todays session in red: 10 things to know before the opening bell
Indian benchmark indices - NSE Nifty50 and BSE Sensex - are likely to start Tuesdays session in the red. Heres a list of 10 things you need to know before Dalal Street resumes trading.
Indian benchmark indices – NSE Nifty50 and BSE Sensex – are expected to witness a muted start on Tuesday’s session, as indicated by Singapore Exchange Nifty futures, amid mixed moves across the global markets, including the US and Asia.
Stay tuned on Zeebiz.com to find out what could impact your trade today. We have collated a list of the top 10 things to know that could impact the market:
- SGX Nifty futures: Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty50 index — were down 18.5 points or 0.10 per cent at 18,706.5 at the last count ahead of the opening bell on Dalal Street.
- Asian markets: Asian stocks were mixed in early hours on Tuesday as Japan’s Nikkei 225 gained nearly 0.2 per cent, followed by Hong Kong’s Hang Seng up around 0.1 per cent, while South Korea’s KOSPI jumped over 0.5 per cent and China’s Shanghai Composite was down almost 0.3 per cent
- Wall Street: Overnight in the US, the three main equity indices ended lower on Monday as investors weighed whether the US Federal Reserve might pause its interest rate hikes at its upcoming policy meeting, while Apple briefly hit a record high before losing ground.
- Rupee vs dollar: The rupee fell 24 paise to close at 82.63 against the US dollar on Monday, weighed down by the strength of the American currency against major rivals and rising crude prices in the international markets.
- Dollar index: The US dollar fell on Monday on news that the U.S. services sector barely grew in May as new orders slowed, ending an initial rally sparked by strong jobs growth. The dollar index fell to 104.00, down 0.13 per cent on the day, after climbing as high as 104.40.
- Crude oil: Crude oil prices rose on Monday after the world's top exporter Saudi Arabia pledged to cut production by a further 1 million barrels per day (bpd) from July to counter macroeconomic headwinds that have depressed markets.
- Monsoon Update: India's monsoon onset over the southernmost Kerala coast is delayed by another two-three days because the formation of cyclonic circulation in the Arabian Sea has reduced cloud cover over the Kerala coast, weather officials said on Monday.
- Adani Group completes deleveraging plan: Adani Group has completed a $2.65 billion deleveraging program; it said on Monday in its credit update for fiscal 2023. The group's shares have lost more than $110 billion in value since January, when US short-seller Hindenburg Research alleged it had indulged in stock manipulation and improper use of tax havens.
- India's services growth defies inflation pressures: Growth in India's dominant services sector activity slowed slightly last month but held at a firm pace as demand remained strong despite high inflationary pressures, a business survey showed on Monday. The PMI Index fell to 61.2 in May.
- FII, DII flow: Foreign portfolio investors (FPIs) net sellers’ Indian shares worth Rs 700.98 crore on Thursday whereas domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,195.98 crore, according to provisional exchange data.
(With inputs from agencies)
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