STATE OF THE MARKETS
SGX Nifty signals negative start
Nifty futures on the Singapore Exchange traded 46 points, or 0.45 per cent lower at 10,229, in signs that Dalal Street was headed for a negative start on Wednesday.
Tech view: Nifty forms bearish candle
Nifty50 on Tuesday erased morning gains to close flat. The index formed a small bearish candle on the daily chart after forming indecisive Doji candles for two consecutive sessions. Analysts said the index is losing strength and the bias has turned negative.
Asian stocks edge higher
Japan’s Nikkei225 index rose 0.27 per cent, or 60.34 points, to 22,348.48 in early trade. China’s benchmark Shanghai Composite index added 0.22 per cent, or 6.51 points, to 2,991.18. Hong Kong market was closed for a public holiday.
US stocks settled higher
The S&P500 index, the broadest of the three major indices, finished at 3,100.29, up 1.5 per cent for the day and around 20 per cent for the quarter, the biggest gain since 1998. The Dow Jones Industrial Average gained 0.9 per cent to 25,812.88, while the tech-rich Nasdaq Composite Index jumped 1.9 per cent to 10,058.77.
Oil prices rise on fall in US inventory
Oil prices rose on Wednesday after an industry report showed crude inventories in the United States fell much more than expected, suggesting demand is improving even as the coronavirus outbreak spreads around the world. Brent crude rose 33 cents, or 0.8 per cent, to $41.60 a barrelafter declining more than 1 per cent on Tuesday.
DIIs buy Rs 2,051 cr worth of stocks
Net-net, foreign portfolio investors (FPIs) were sellers of domestic stocks to the tune of Rs 2,000.08 crore, data available with NSE suggested. DIIs were net buyers to the tune of Rs 2,051.31 crore, data suggests.
Voda Idea reports mega Q4 loss
Vodafone Idea posted Rs 11,643.5 crore loss for March quarter, its seventh successive three-month period in the red, hurt by loss of subscribers, high finance costs and a one-time charge related mainly to its statutory dues. The telco warned of continued threat to its viability unless the Supreme Court allows it to pay the thousands of crores in adjusted gross revenue to the government in instalments, besides being able to renegotiate repayment terms with its lenders.
Rupee: The rupee appreciated by 7 paise to 75.51 against the US dollar on softening crude oil prices and early gains in domestic equity market
10-year bonds: India 10-year bond yield fell 0.25 per cent to 5.88 after trading in 5.87-5.92 range.
Call rates: The overnight call money rate weighted average stood at 3.55 per cent, according to RBI data. It moved in a range of 1.80-4.05 per cent.
DATA/EVENTS TO WATCH
- India June Auto Sales Numbers
- Japan Jibun Bank Manufacturing PMI Final June (06.00 am)
- India June Markit Manufacturing PMI (10.30 am)
- China Caixin Manufacturing PMI June (07.15 am)