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Global markets: SGX Nifty to oil price — key triggers that may impact stock market today

 

Global Market Update: US stocks edged higher on Friday amid assurances from officials about financial stability and rising speculation that policymakers could hold off on raising rates to prevent a recession. However, the market is cautious about developments in the Middle East as the US airstrikes on Syria last weekend are expected to impact global markets including Dalal Street. In Monday morning deals, the US Dollar was trading sideways as the Dollar Index was trading sluggish. However, SGX Nifty climbed over 100 points today as crude oil prices edged lower in the morning session on signs of easing Middle East tension following US airstrikes in Syria.

Here we list down the important triggers that can affect the stock market today:

american stock market

On Wall Street, major benchmark indices closed with gains on Friday. The S&P 500 index rose 0.56 percent, the Dow Jones gained 0.41 percent, while tech heavyweight Nasdaq gained 0.31 percent.

On why the US stock market rallied over the weekend, Marc Despalières, chief strategy and trading officer at Vantage, said: “While some banks are coming under pressure, the overall financial The system is still going strong. Global officials continued. The recent failure of some US regional lenders and the near-collapse of banking giant Credit Suisse Group AG before a government-brokered takeover by rival UBS Group AG sought to calm financial markets. trying.”

Mark Despallières further noted that, market participants skipped bets that the Fed would raise interest rates in May and bet that its next move would be a rate cut in early June – even though Chair Jerome Powell said that the cut was his “base.” ” Not there. Case.”

crude oil price in focus

Following the US airstrikes in Syria late last week, the Indian stock market witnessed heavy selling after trimming morning losses. Therefore, any increase in the price of crude oil would have been an indicator of rising geopolitical tensions in the Middle East. But, in the morning deals, crude oil prices declined by around 0.10 per cent and WTI crude oil price was slightly above $69 per barrel.

“Ease in crude oil prices is mainly on account of no further escalation in Middle East tension after US airstrikes in Syria. This could become a big drag for Indian equities and other emerging markets,” Avinash Gorakhkar, Research said the chief. Profitmart Securities.

Indicating a strong opening on Dalal Street, SGX Nifty today opened at 17,037 and climbed to an intraday peak of 17,041. However, profit-booking soon started and the index hit a low of 17,016.

asian stock market today

In morning deals on Monday, the Japanese Nikkei lost 0.34 per cent, the Shanghai index 0.60 per cent, Hong Kong’s Hang Seng 1.80 per cent, while South Korean KOSPI declined 0.39 per cent.

us dollar price

US Dollar is trading sideways in the morning session on Monday but dollar index is still above 102 level. The dollar index is down 0.04 per cent at 102.720 during morning deals.

Speaking on INR (Indian National Rupee) from US Dollar, Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas said, “We expect Indian Rupee to trade with risk aversion in global markets and with a negative bias on a positive dollar Selling pressure from FIIs. And dollar demand from importers may also put pressure on the rupee towards the end of the month. However, fall in crude oil prices may take support at lower levels. Traders may continue to trade in durables. Orders and can be alerted ahead of PMI data from the US. from 81.80 82.80.”

US bond yield

In the morning session on Monday, the US 10-year bond yield was up 0.06 per cent at 3.380, while the US 30-year bond yield was down 0.01 per cent at 3.644.

Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint. We advise investors to check with certified experts before taking any Investment Decision.

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