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Global market: SGX Nifty to SVB deal — factors that may dictate stock market today

 

Update on the Global Market: On Monday, Treasuries fell as worries about banking turmoil subsided, pushing up the US stock market. The Silicon Valley Bank (SVB) crisis in the US ended after more than a week of uncertainty following the SVB deal, boosting investor morale in the stock market. Today, the SGX Nifty opened at 17,052 and rose to a high of 17,122.

In this section, we provide a list of the most significant current triggers that have the potential to influence the stock market:

american financial exchange

Following the relief from the financial emergency in the US following the SVB bargain, the US value market made progress as bulls showed purchasing revenue at night meeting. The Dow Jones was up 0.60 percent, the S&P 500 rose 0.16 percent, however the Nasdaq tech file fell 0.47 percent.

Marc Despallieres, chief strategy and business officer at Vantage, stated, “The regional lender rose about 2.5% after First Citizens Bankshares Inc. announced it would buy SVB Financial Group’s Silicon Valley bank. This caused First Republic Bank to jump due to a Bloomberg report in which U.S. officials said the expansion The emergency lending facility that will provide the lender more time to strengthen its balance sheet.”

Asian stock market: Early morning deals saw a 0.04 percent increase in the Japanese Nikkei, a 0.01 percent increase in the Shanghai index, a 0.30 percent increase in the Hang Seng, and a 0.39 percent increase in the KOSPI.

Today, the SGX Nifty opened at 17,052 and reached 17,122. However, it also reached its intraday low of 17,004 in the interim.

price of the us dollar In the morning, there was some profit-booking for the US dollar, and the dollar index fell 0.23% to 102.282.

“We expect the Indian rupee to trade with a slight downside bias on dollar demand from importers and sustained FII outflows,” Sharekhan by BNP Paribas research analyst Anuj Chowdhary stated regarding the US dollar. Risk-averse sentiment could result from a credit crunch in the US and Europe caused by anxiety and banking problems. The demand for dollars as a safe haven could increase as geopolitical tensions over Russia’s nuclear threat escalate. We anticipate that the USDINR spot price will soon range between 81.80 and 82.80.

unrefined petroleum cost

After assembly in Monday night bargains, raw petroleum costs were under benefit booking tension in today meeting. The price of a barrel of WTI crude oil decreased by 0.24 percent to approximately $ 77.50.

US security yield

Expanding the arrival of Depositories, the US 10-year security yield was down 03.54 percent at 3.509 while the US 30-year security yield was down 0.44 percent at 3.744.

Disclaimer: Mint is not responsible for the opinions or recommendations expressed above, which are those of individual analysts or brokerage firms. We encourage financial backers to check with confirmed specialists prior to taking any Speculation Choice.

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