Global Markets Today: As the Q4 results season heats up and the US dollar eases after bouncing from a one-year low, the US stock market traded in a tight range in Monday’s deals but managed to end higher. In morning deals, most Asian bourses witnessed a selloff as investors awaited key economic data from China. Barring the Japanese Nikkei, most Asian bourses traded in the red during the morning session. The SGX Nifty closed in a narrow range of around 60 points today, indicating a sluggish opening in the Indian stock market today.
Here we list the keys global market Triggers that can affect the Indian stock market today:
american stock market
As investors now await key results, the US stock market on Wall Street witnessed range-bound trend but major benchmark indices managed to end on a higher note. The Dow Jones Industrial Average rose 0.30 percent, the S&P 500 rose 0.33 percent, while the tech heavyweight Nasdaq climbed 0.28 percent on Monday.
“The risk-reward for equities does not look attractive in the second half in light of the risk-free hurdle rate at 5%,” a team of JPMorgan Chase & Co. strategists including Marko Kolanovic wrote in a note. The main disconnect revolves around expectations of a soft landing with inflation coming down quickly.”
us dollar price
The US dollar held steady during the morning deals and the dollar index was trading above the 101 level. During the morning session in Asian stock market trade, the dollar index fell 0.04 per cent to 101.750.
On USD vs INR, Anuj Chowdhary, Research Analyst at Sharekhan by BNP Paribas said, “We expect the Indian Rupee to trade with a slight downside bias on a stronger dollar and higher crude oil prices. Weak domestic market will also put pressure on the rupee.” However, sustained. FII inflows and cool inflation may support rupee at lower levels. Traders may remain cautious ahead of Empire State Manufacturing Index data from US. USDINR spot price is expected to trade in a range from 81.50 82.50 in the near term.
signaling mute opening for indian stock market Today, SGX Nifty is trading negative to negative in a tight range of 60 points as most Asian stock markets eagerly await China’s GDP, Retail Sales and industrial production data release, which is expected today.
SGX Nifty is expected to remain range bound today as investors await the release of Chinese economic data today. One should buy on dips strategy and avoid taking short positions as the overall trend is up. IIFL Securities,
asian stock market
Most Asian stock markets, barring the Japanese Nikkei, are trading in the red as investors await the release of Chinese GDP and other key economic data. The Japanese Nikkei is up 0.67 per cent, the Shanghai index is down 0.20 per cent, Hong Kong’s Hang Seng is down over 0.80 per cent, while South Korean KOSPI is down 0.19 per cent during the morning session.
crude oil price
Following easing in the US dollar rates, crude oil prices edged higher in morning deals at various Asian stock markets. wti crude Oil rose by 0.30 percent and held above the crucial $80 per barrel price level, while Brent crude gained 0.17 percent to $86.39 per barrel.
US bond yield
In early morning session, the US 10-year bond yield rose 0.10 per cent to 3.595, while the US 30-year bond yield rose 0.13 per cent to 3.809.
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