Global Markets Today: Wall Street managed to break a three-week losing streak after Friday’s rally. Sentiment remained upbeat despite a report showing resilience in the services sector, as more investors said the impact of the Fed hike on the economy would be delayed. Bond yields rose for the week, though Treasuries edged higher on Friday, with the 10-year yield hovering around 3.96 percent. The dollar had its worst week as a benchmark since mid-January, ending four consecutive weeks of gains. SGX Nifty opened above its Friday’s closing levels today, indicating a positive opening on Dalal Street.
Here we list down the major global market triggers that may affect the stock market today:
american stock market
Wall Street ended higher last week after three consecutive weeks of lower levels despite reports of resilience in the services sector. In Friday deals, the Dow Jones climbed 1.17 percent, the S&P 500 index 1.61 percent, while the tech heavy Nasdaq index rose 1.97 percent.
“Currently, all eyes will be on the non-farm payrolls report next week to see whether the economy can handle more rate hikes. This week’s data showed continued labor-market resilience in the US, giving the Fed more room to stay.” The case was supported by its tighter policy, a theme that pushed almost every major asset into the red in February,” said Marc Despellieres, chief strategy and trading officer at Vantage.
Deepak Jasani, Head of Retail Research, said, “Most global equities gained on Friday and had a good start to March as markets digested more cues on US monetary policy and positive Chinese economic data.” HDFC securities.
Asian market
In the morning session, the Japanese Nikkei lost 1.25 per cent, Hong Kong’s Hang Seng lost 0.04 per cent, while the Shanghai index declined 0.05 per cent.
sgx nifty today
Indicating a positive opening on Dalal Street on Monday, the SGX Nifty opened at 17,730, also hitting the day’s high, on Monday. sgx smelly There was some correction seen in morning deals and hit a low of 17,686. The SGX Nifty currently stands at 17,692, up nearly 60 points from its previous close.
Speaking on the outlook for SGX Nifty, Anuj Gupta, Vice President – Research at IIFL Securities said, “SGX Nifty opened higher today and saw a pick-up in volumes. Hence, the index is showing signs of recovery from the oversold zone and the same can be expected at Dalal Street when the market opens today. “
us dollar price
After ending the worst week since mid-January, the US dollar is trading with some positive bias as the dollar index rose 0.04 per cent to 104.528 in morning deals.
US bond yield
In the morning session on Monday, the US 10-year bond yield fell 0.43 per cent to 3.946, while the US 30-year bond yield fell 0.24 per cent to 3.878.
crude oil price
In the international spot market, the price of crude oil declined by 0.76 percent to $ 79.21 per barrel. This easing in oil prices can be attributed to the rise in US dollar rates which has acted as a taper for fossil fuel price,
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