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Global markets: SGX Nifty to Asian stocks — key triggers for Indian stock market today

 

Global Markets Today:

All three major indexes traded higher on Thursday, extending Wall Street’s rally as US bank troubles eased. Today’s strong opening on Dalal Street was evidenced by the SGX Nifty’s fresh breakout of 17,250 in the Singapore stock market. Today, as the Dollar Index fell below the 102 level, rates for the US dollar are under pressure.

The following is a list of the major factors that could have an impact on the Indian stock market right now:

american stock market

In the US stock market, the Dow Jones index rose 0.43 per cent, the S&P 500 index 0.57 per cent while the tech heavy Nasdaq rose 0.73 per cent.

asian stock market today

The morning session saw gains of over 1% in the Japanese Nikkei, 0.3% in the Shanghai index, 1.84 percent in the Hong Kong Hang Seng, and 1.01 percent in the KOSPI.

“Recent gains in the market were fueled by comments from Federal Reserve officials that suggested the need for further monetary tightening despite recent bank failures,” stated Mark Despallieres, chief strategy and trading officer at Vantage, “due to strong global cues.” Susan Collins, president of the Boston Fed, emphasized the significance of tighter policies, and Thomas Barkin, president of the Richmond Fed, stated that the Fed may further raise rates if inflation risks persist. Neel Kashkari, President of the Minneapolis Fed, acknowledged that the impact of the recent turmoil in the financial system is not entirely clear, but he also stated that he is committed to bringing inflation back down to 2%.”

Mark added that some strategists disagree with the market’s rate cut expectations this year, despite investors anticipating a 70-basis-point reduction to 4.3% by the end of the year.

singapore stock market

Today, the SGX Nifty broke out above the crucial 17,200 level in Singapore markets, indicating a strong opening on Dalal Street after a day’s gap. Due to a stock market holiday on Ram Navami, trading on the BSE and NSE remained closed on Thursday.

“SGX Nifty today gave a breakout at 17,200 level and managed to stay above it for almost an hour which indicates a fresh rally in the index,” said Anuj Gupta, Vice President – Research, IIFL Securities, regarding the SGX Nifty. indicates.” He included that the breakout SGX Clever list shows areas of strength for an opening on Dalal Road on Friday.

us dollar price

The US Dollar rate is under pressure in the morning session as the US Dollar Index declined below the 102 level. In the morning session on Friday, the dollar index remained below 102 at 101.835, down about 0.01 per cent from Thursday’s close.

US bond yield

The yield on the US 10-year bond was up 0.31% at 3.562 in the morning session on Friday, while the yield on the US 30-year bond was close to the close of 3.746 yesterday.

Disclaimer: o2help is not responsible for the opinions or recommendations expressed above—they are those of individual analysts or brokerage firms. Before making any investment decisions, we recommend that investors conduct due diligence with licensed professionals.

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