Synopsis
Asian stocks opened majorly in the positive territory but a few gave up the early gains, thanks to profit-taking but soon rebounded after recent rallies in US and other peers. MSCI’s index of Asia-Pacific shares outside Japan was up by 0.47 per cent.
ETMarkets.comThe domestic equity market was likely to continue the gains on Thursday, tracking positive global cues. Asian peers were mostly up, whereas US stocks settled slightly higher in overnight trade. However, the focus now shifts to macroeconomic data, including inflation and industrial output, which will be announced later in the day. In the meantime, IPO spree continues on Dalal Street as the issue of MapmyIndia kicks off today. Here’s breaking down the pre-market actions:
STATE OF THE MARKETS
SGX Nifty signals positive start
Nifty futures on the Singapore Exchange traded 71.5 points, or 0.41 per cent, higher at 17,556.50, signaling that Dalal Street was headed for a positive start on Thursday.
- Tech View: The dovish outlook from the central bank outweighed the concerns over the Omicron variant. The Nifty index closed with nearly 2 per cent of gains, building on to the previous day gains.
- India VIX: The fear gauge eased over 6 per cent to 17.26 level on Wednesday over its close at 18.46 on Tuesday.
Asian shares trade mostly higher
Asian stocks opened majorly in the positive territory but a few gave up the early gains, thanks to profit-taking but soon rebounded after recent rallies in US and other peers. MSCI’s index of Asia-Pacific shares outside Japan was up by 0.47 per cent.
- Japan’s Nikkei declined 0.16%
- South Korea’s Kospi rallied 0.54%
- Australia’s ASX 200 shed 0.06%
- China’s Shanghai climbed 0.30%
- Hong Kong’s Hang Seng jumped 1.04%
Wall Street settles higher
Wall Street closed slightly higher on Wednesday with the three major indexes managing their third straight day of gains after test data showed the COVID-19 vaccine from Pfizer and BioNTech offered some protection against the new Omicron variant.
- Dow Jones added 0.10% to 35,754.75
- S&P 500 gained 0.31% to 4,701.21
- Nasdaq advanced 0.64% to 15,786.99
Dollar stays soft
The dollar failed to pick up ground on most major peers on Thursday as markets saw optimism in early data hinting the Omicron variant of the new coronavirus may not be as bad as feared, even as new COVID-19 restrictions in Britain hurt the sterling.
- Dollar Index was pinned at 96
- Euro gained to $1.1338
- Pound was sitting at $1.3202
- Yen hovered near 113.73 per dollar
- Yuan appreciated to 6.3453 against the greenback
extends gains
Oil prices extended gains on Thursday on confidence that the Omicron coronavirus variant would not dent global growth, even as some governments stepped up curbs to stop its rapid spread.
US West Texas Intermediate (WTI) crude futures rose 28 cents, or 0.4 per cent, to $72.64 a barrel at 0201 GMT. Brent crude futures rose 22 cents, or 0.3 per cent, to $76.04 a barrel.
FPIs sell shares worth Rs 579 cr
Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 579.27 crore, data available with NSE suggested. DIIs turned net buyers to the tune of Rs 1,735.5 crore, data suggests.
MONEY MARKETS
Rupee: The Indian rupee fell to a near two-month low of 75.50 against the US dollar on Wednesday as RBI’s bi-monthly monetary policy decision failed to enthuse forex market participants.
10-year bonds: India 10-year bond easeded about 0.69 per cent to 6.35 after trading in 6.34 – 6.40 range on Wednesday.
Call rates: The overnight call money rate weighted average stood at 3.29 per cent on Wednesday, according to RBI data. It moved in a range of 2.00-3.50 per cent.
(What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)
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SynopsisAsian stocks opened majorly in the positive territory but a few gave up the early gains, thanks to profit-taking but soon rebounded after recent rallies in US and other peers. MSCI’s index of Asia-Pacific shares outside Japan was up by 0.47 per cent.ETMarkets.comThe domestic equity market was likely to continue the gains on Thursday, tracking positive global cues. Asian peers were mostly up, whereas US stocks settled slightly higher in overnight trade. However, the focus now shifts to macroeconomic data, including inflation and industrial output, which will be announced later in the day. In the meantime, IPO spree continues on Dalal Street as the issue of MapmyIndia kicks off today. Here’s breaking down the pre-market actions: STATE OF THE MARKETS SGX Nifty signals positive startNifty futures on the Singapore Exchange traded 71.5 points, or 0.41 per cent, higher at 17,556.50, signaling that Dalal Street was headed for a positive start on Thursday. Tech View: The dovish outlook from the central bank outweighed the concerns over the Omicron variant. The Nifty index closed with nearly 2 per cent of gains, building on to the previous day gains. India VIX: The fear gauge eased over 6 per cent to 17.26 level on Wednesday over its close at 18.46 on Tuesday. Asian shares trade mostly higherAsian stocks opened majorly in the positive territory but a few gave up the early gains, thanks to profit-taking but soon rebounded after recent rallies in US and other peers. MSCI’s index of Asia-Pacific shares outside Japan was up by 0.47 per cent. Japan’s Nikkei declined 0.16% South Korea’s Kospi rallied 0.54% Australia’s ASX 200 shed 0.06% China’s Shanghai climbed 0.30% Hong Kong’s Hang Seng jumped 1.04% Wall Street settles higherWall Street closed slightly higher on Wednesday with the three major indexes managing their third straight day of gains after test data showed the COVID-19 vaccine from Pfizer and BioNTech offered some protection against the new Omicron variant. Dow Jones added 0.10% to 35,754.75 S&P 500 gained 0.31% to 4,701.21 Nasdaq advanced 0.64% to 15,786.99 Dollar stays softThe dollar failed to pick up ground on most major peers on Thursday as markets saw optimism in early data hinting the Omicron variant of the new coronavirus may not be as bad as feared, even as new COVID-19 restrictions in Britain hurt the sterling. Dollar Index was pinned at 96 Euro gained to $1.1338 Pound was sitting at $1.3202 Yen hovered near 113.73 per dollar Yuan appreciated to 6.3453 against the greenback extends gainsOil prices extended gains on Thursday on confidence that the Omicron coronavirus variant would not dent global growth, even as some governments stepped up curbs to stop its rapid spread. US West Texas Intermediate (WTI) crude futures rose 28 cents, or 0.4 per cent, to $72.64 a barrel at 0201 GMT. Brent crude futures rose 22 cents, or 0.3 per cent, to $76.04 a barrel. FPIs sell shares worth Rs 579 crNet-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 579.27 crore, data available with NSE suggested. DIIs turned net buyers to the tune of Rs 1,735.5 crore, data suggests. MONEY MARKETS Rupee: The Indian rupee fell to a near two-month low of 75.50 against the US dollar on Wednesday as RBI’s bi-monthly monetary policy decision failed to enthuse forex market participants. 10-year bonds: India 10-year bond easeded about 0.69 per cent to 6.35 after trading in 6.34 – 6.40 range on Wednesday. Call rates: The overnight call money rate weighted average stood at 3.29 per cent on Wednesday, according to RBI data. It moved in a range of 2.00-3.50 per cent. (What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.) Download The Economic Times News App to get Daily Market Updates & Live Business News.Pick the best stocks for yourself Powered by 3 mins read3 mins read2 mins read2 mins read3 mins read4 mins read3 mins read3 mins read