Trends on SGX Nifty indicate a negative start for the stock market indices

Trends on SGX Nifty indicate a negative start for the stock market indices

Trends on SGX Nifty indicate a negative start for the index in India. HDFC Securities Head-Retail Research Deepak Jasani said Indian markets could open largely negative today in Asian markets and lower in US markets on Thursday.

Nifty rose for the fifth consecutive session on January 3 on positive global cues. Around the Nifty was up 0.25 per cent or 45.4 points at 18,257.5.

Nifty climbs for fifth consecutive session; However, it seems that the intraday moves are running out of steam. While Nifty is trending towards an earlier high of 18,604, there is a possibility of some correction before that. In the near future, 18,129-18,342 band appears for Nifty.

Asian stocks fall

Asian stocks tumbled Friday after Federal Reserve officials indicated they would aggressively combat inflation and the Nasdaq 100 fell to its lowest level since October.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.8 per cent in morning trade, while Australia’s 1.2 per cent and Japan’s Nikkei were down 1.9 per cent by afternoon break. South Korean shares fell 1.5 per cent on Friday after its central bank raised the benchmark rate by 25 basis points to 1.25 per cent, taking it back where it was before the pandemic as it seeks to halt consumer price hikes. China’s blue-chip index closed 0.3 per cent and Hong Kong’s Hang Seng index down 0.6 per cent.

US stocks closed lower

US stocks closed Thursday as a rebound in technology traded, breaking a three-day winning streak for the Nasdaq Composite. The S&P’s technology index fell 2.7 percent while consumer discretionary fell 2 percent.

The Dow Jones Industrial Average fell 176.7 points, or 0.49 per cent, to 36,113.62, the S&P 500 fell 67.32 points, or 1.42 per cent, to 4,659.03 and the Nasdaq Composite fell 381.58 points to 14,806.81.

Shares of technology companies, expected to rise faster than average in revenue and earnings, fell on Thursday, reviving a trend from early 2022, when Treasury yields rose sharply in response to expectations the Federal Reserve said earlier. would be much more aggressive in comparison. Fighting rising inflation.

Several Fed officials spoke publicly about battling high inflation with Lyle Brainard, the latest and most senior, of the U.S. The central banker indicated that the Fed was getting ready to raise rates in March.

On Thursday, US wholesale inflation – a reading of the producer-price index – eased but still remained at a year-over-year rate of about 9.7 percent, compared to a nearly 40-year high of 9.8 percent in the previous month. . Monthly growth of 0.2 percent was the lowest in 13 months.

South Korea raised interest rates to pre-pandemic levels

South Korea’s central bank raised its benchmark rate back before the pandemic on Friday, seeking to contain inflation and home loan growth as global policymakers move to end emergency stimulus to curb rapid consumer price hikes. Huh.

The Bank of Korea’s Monetary Policy Board raised borrowing costs by 25 basis points to 1.25 percent, the highest since March 2020, in a move 25 of 35 analysts expect. Reuters public opinion.

India’s share of merchandise exports at record high in December

India’s goods exports and imports hit record lows in December, leaving the trade deficit high despite a narrower trend than the previous month. The trade deficit narrowed from $22.91 billion in November to $21.68 billion in December 2021, according to data published by the Ministry of Commerce and Industry on Thursday. Exports grew 38.9% year-on-year to $37.8 billion and imports grew 38.6% to $59.5 billion over the previous year. Month-on-month, exports grew by 25.8% and imports by 12.4%.

China’s December exports increased

China’s exports grew 20.9 percent year-on-year in December and imports rose 19.5% in the same period, customs data showed on Friday. analyst in Reuters The poll had expected exports to grow by 20 per cent last month after a 22 per cent jump in November.

According to the survey, imports witnessed a growth of 26.3 per cent in November after a growth of 31.7 per cent. China posted a trade surplus of $94.46 billion last month, while the survey estimated a surplus of $74.50 billion. China recorded a surplus of $71.72 billion in November.

Indian economy projected to grow by 6.5% in FY22: UN

India is projected to grow at 6.5 percent in fiscal year 2022, down from the 8.4 percent GDP estimate in the previous fiscal year, and the country’s economic recovery is a ‘solid path’ between rapid vaccination progress, coal shortages and high levels of is on. The United Nations said on Thursday that oil prices could put the brakes on economic activity in the near future.

Three stocks under F&O ban

Three stocks – Indiabulls Housing Finance, Vodafone Idea and SAIL – are under F&O restrictions for January 14.

,With input from Reuters and agencies,

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Published on: Friday, January 14, 2022, 08:31 AM IST


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