Global Market Updates: SGX Nifty to USD – Key triggers that may guide D-Street

Here we list down important global market news that could guide Dalal Street on Friday:

american stock market

All major benchmark indices on Wall Street ended in the green on Thursday, following investor optimism over a ‘slow and steady’ rate hike signal by US Fed officials. The Dow Jones ended 1.05 percent higher, the S&P 500 up 0.76 percent, while the Nasdaq gained 0.73 percent on Thursday.

On the reasons for the rally in the US stock market, Mark Despallieres, Chief Strategy and Trading Officer at Vantage, said, “US stocks rose on Thursday, ending two days of losses and after Federal Reserve Bank of Atlanta President Rafael Bastick closed higher in Thursday’s session. The central bank may be in a position to hold off on raising rates sometime this summer. While Bastick’s comments on Thursday boosted sentiment, other central-bank Officials have stepped up their aggressive rhetoric as Boston Fed President Susan Collins said on Thursday that more rate hikes are needed to get inflation under control.

Asian market

In Friday’s morning session, the Japanese Nikkei rose 1.36 per cent, the Shanghai index 0.30 per cent, the Hang Seng 0.70 per cent, while the South Korean KOSPI closed 0.10 per cent.

Shares of Adani backer GQG Partners fell 3% in Australian trade

Listing of GQG Partners Inc fell 3 per cent in Australian markets in morning deals on Friday after the global investment firm invested $1.87 billion in four Adani group companies. According to latest regulatory filing by Adani Group, Florida-based firm bought 3.4 per cent stake Adani Enterprises Ltd. for approximately $662 million, a 4.1 percent stake in Adani Ports and a 2.5 percent stake in Special Economic Zones Ltd. for $640 million Adani Transmission Ltd. for $230 million and a 3.5 percent stake Adani Green Energy Ltd. for $340 million.

sgx nifty today

Indicating a positive start for the Indian stock market today, the SGX Nifty opened on the upside at 217,439 and touched a high of 17,483.

Decoding SGX Nifty by Anuj Gupta, Vice President – Research at IIFL Securities said, “This strong opening can be attributed to short covering, which was widely expected today. SGX Nifty has gained over 100 points in the morning session leading Indian stock market indicating a positive opening of the

us dollar price

After climbing in the later session in Thursday’s deals, the US dollar is witnessing some profit-booking in Friday morning deals. The dollar index is currently at 104.828, down 0.12 per cent from its Thursday’s close, after closing at 104.948 on Thursday.

“The US dollar advanced higher on Thursday, erasing its recent losses and extending an intraday rally above the 105.10 mark to a daily high on the back of US economic data and higher US yields. Rising inflation fears and higher rates from major central banks allowed the US dollar to post its biggest daily jump since early February. However, comments late Thursday from the Federal Reserve Bank atlanta President Rafael Bostic joined the cautious mood and the greenback capped its gains,” said Marc Despellieres.

US bond yield

US Treasury bond yields rose to multi-month highs amid rising inflation fears and higher rates from major central banks that support the US dollar. However, in the morning session on Friday, the US 10-year bond yield declined by 0.43. percent to 4.056 while the US 30-year bond yield is at 0.36 percent to 4.007.

crude oil price

Crude oil is trading flat in the morning session at the international spot market. West Texas Intermediate (WTI) crude fell 0.4 percent to $77.83 a barrel.

Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint. We advise investors to do due diligence with certified experts before making any investment decision.