SGX Nifty up 65 points; here's what changed for market while you were sleeping - Economic Times

Equity markets ended lower in a volatile trade on Thursday amid profit booking and negative global cues.

"Investors turned cautious in anticipation of inflationary pressure in the US after raising the US debt ceiling. The US 10-year bond yield inched higher. The market is looking ahead to the trajectory of US interest rates to get more visibility," said Vinod Nair, Head of Research at Geojit Financial Services.

Here's breaking down the pre-market actions:

SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 63.5 points, or 0.34 per cent, higher at 18,627, signaling that Dalal Street was headed for positive start on Friday.

STATE OF THE MARKETS

SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 63.5 points, or 0.34 per cent, higher at 18,627, signaling that Dalal Street was headed for positive start on Friday.

• Tech View: On daily charts, even though Nifty has corrected in the last two sessions, the pattern of higher tops and higher bottoms seen since the March 2023 lows has not been disturbed. This indicates that the intermediate uptrend remains intact. We expect the Nifty to find support around the previous swing high of 18459 before again resuming the uptrend. Of course, if this support fails to hold, then a further correction is likely.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 3.13% to settle at 11.60 levels.

US stocks up
US stock indexes closed up on Thursday as signs of slowing wage pressure on inflation raised hopes the Federal Reserve will pause raising interest rates in two weeks, and investors welcomed a vote in Congress to suspend the U.S. debt ceiling.

Asian stocks rise
Asia stocks advanced after a renewed rally in tech giants pushed Wall Street higher ahead of jobs data due Friday as investors assess the likelihood the Federal Reserve will pause interest rate hikes in June.

Oil prices gain
Oil prices rose on Friday in early Asian trade as markets weighed the likelihood of price-supportive OPEC+ production cuts over the weekend amid positive sentiment over U.S. monetary policy and Washington's debt ceiling bill.

FII/DII action
After continuous buying in May, FPIs turned marginal net sellers at Rs 71 crore on Thursday. DIIs, meanwhile, bought shares worth Rs 489 crore.

Rupee
The rupee gained by 33 paise to close at 82.42 against the US dollar on Thursday, as positive macroeconomic data strengthened investor sentiments.

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SGX Nifty up 65 points; here's what changed for market while you were sleeping - Economic Times
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