SGX Nifty up 90 points; here’s what changed for market while you were sleeping

STATE OF THE MARKETS


SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 91.5 point, or 0.54 per cent, higher at 17,069.50, signalling that Dalal Street was headed for a positive start on Thursday.

• Tech View: Nifty50 jumped 1 per cent on Wednesday and formed a bullish candle on the daily chart, a day after making an indecisive Doji candle. Analysts said, it is too early to say whether a short-term bottom is in place, but they believe Nifty50 has good support at the 16,800 level.

• India VIX: The fear gauge eased over 5 per cent to 16.48 level on Wednesday over its close at 17.54 on Tuesday.

Asian shares open higher
Asian stocks opened higher on Thursday as investors took heart from gains on Wall Street for a second straight session following strong US consumer data. MSCI’s index of Asia-Pacific shares outside Japan was up by 0.63 per cent.

• Japan’s Nikkei added 0.40%
• South Korea’s Kospi gained 0.32%
• Australia’s ASX 200 advanced 0.41%
• China’s Shanghai dropped 0.06%
• Hong Kong’s Hang Seng gained 0.57%

US stocks rise on strong data
Wall Street’s main indices powered higher on Wednesday in a broad rally after upbeat economic data and hopeful developments about the severity of the Omicron coronavirus variant that is sweeping the world.

• Dow Jones rallied 0.74% at 35,753.89
• S&P 500 surged 1.02% to 4,696.56
• Nasdaq advanced 1.18% to 15,521.89

Dollar droops on fall in safe-haven demand
The safe-haven dollar languished near an almost one-week low against its major peers on Thursday as investors adopted a more optimistic stance about the global economic outlook, despite the rapid spread of the Omicron coronavirus variant.

• Dollar index pinned at 96.111
• Euro changed hands at $1.13325
• Pound was little changed at $1.33515
• Yen slightly gained to 114.16 per dollar
• Yuan at 6.3698 against the greenback

FPIs sell shares worth Rs 827 crore
Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 827.26 crore, data available with NSE suggested. DIIs were net buyers to the tune of Rs 1,593.41 crore, data suggests.

Medplus Health to list today
Medplus Health Services, India’s second largest pharmacy retailer, will make its debut on the bourses today. The company raised Rs 1,398.30 crore via its initial public offering (IPO) between December 13-15 and sold its shares in the range of Rs 780-796. Ahead of listing, it commands a premium of Rs 150 per share in the grey market.

MONEY MARKETS

Rupee: In a range-bound session, the rupee appreciated by 5 paise to close at 75.54 (provisional) against the US dollar on Wednesday as a firm trend in domestic equities boosted investor sentiments.

10-year bonds: India 10-year bond eased mildly 0.06 per cent to 6.46 after trading in 6.46 – 6.48 range on Wednesday.

Call rates: The overnight call money rate weighted average stood