Global market today: SGX Nifty to US markets — key factors that you should know
4 min read 30 Mar 2023, 07:20 AM ISTSGX Nifty is trading tepid in early morning deals due to stock market holiday in India for Ram Navami
PremiumGlobal market today: On account of reviving sentiments in regard to bank crisis, US stock market witnessed strong buying during evening deals. In early morning Asian stock market session, US dollar rates are gaining momentum as Dollar Index has sustained above 102 levels. However, crude oil prices have sustained above $72 per barrel in early morning trade in Asian markets.
Here we list out key global market triggers that may help Indian stock market traders on Friday when trading on BSE and NSE will resume after stock market holiday for Ram Navami 2023:
US stock market
After ease in bank crisis in US, Wall Street witnessed strong buying during evening deals. S&P 500 index surged 1.42 per cent, Dow Jones index gained 1 per cent while Tech heavy weight Nasdaq skyrocketed 1.79 per cent after the close of Wednesday deals.
"Global equities were mostly up on Wednesday as easing concerns over the banking sector revived risk appetite, while Alibaba's plans to split into six units lifted Chinese tech stocks," said Deepak Jasani, Head of Retail Research, HDFC Securities.
Asian stock market today
In early morning session, the Japanese Nikkei nosedived 0.69 per cent, Shanghai index was trading tepid around its close levels on Wednesday, Hong Kong's Hang Seng gained over 2 per cent while South Korean KOSPI went off 0.07 per cent.
SGX Nifty today
SGX Nifty is trading flat today due to stock market holiday for Ram Navami. SGX Nifty today opened with downside gap at 17,167 and went on to hit intraday low of 16,948. However, it soon gathered momentum and regained 17,000 levels and hit intraday high of 17,213 levels.
US dollar to INR
After signs of revival in bank crisis in US, US dollar rate attracted buying interest in morning deals. US Dollar Index is up 0.11 per cent at 102.420 levels.
speaking on US dollar vs INR (Indian National Rupee), Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas said, "We expect Indian Rupee to trade with a slight negative bias on strong Dollar and month end Dollar demand from OMCs. However, improved global risk sentiments on fading concerns over banking turmoil in US and Europe may support risk assets. Traders may remain cautious ahead of pending home sales data from US which is expected weaker than previous month. USDINR spot price is expected to trade in a range of ₹81.80 to ₹82.80 in the near term."
Crude oil price
In early morning session on Thursday, crude oil prices further ascended and sustained above $72 per barrel levels. WTI crude oil today opened at $72.92 per barrel levels and went on to hit intraday high of $73 per barrel levels. Brent crude oil too consolidated above $77 per barrel levels.
US bond yield
In early morning deals, US 10 years bond yield ascended 0.31 per cent to 3.577 while US 30 years bond yield dipped 0.16 per cent to 3.772 levels.
