Global markets: First Republic share price from SGX Nifty – Key triggers for today

Here we list the keys global market triggers that can guide indian stock market Today:

american stock market

All three major benchmark indices closed with losses on Monday, buoyed by a cautious sentiment ahead of troubled First Republic Bank’s takeover this week by JPMorgan Chase & Co. The Dow Jones was down 0.14 per cent, the S&P 500 index was down 0.04 per cent, while the Nasdaq was down 0.11 per cent in Monday deals.

“US stock markets were under pressure on concerns of an economic slowdown due to a bank crisis in the US as Treasury Secretary Janet Yellen warned on Monday that the United States could run out of cash on its debt repayments as early as June 1, if Government failed to increase the loan limit,” said Anuj Gupta, Vice President – Research IIFL Securities,

first republic bank share price

First Republic Bank’s share price plunged as much as 46 percent after the close of Monday’s session on Wall Street, ahead of the JPMorgan Chase & Co acquisition. First Republic Bank’s stock price broke $1.61 per share on Monday and closed at $3.51 per share on the NYSE.

On how the First Republic Bank crisis could impact the global economy, Ruslan Liankha, Head of Markets at YouHodler, a Swiss-based international fintech platform, said, “Although the collapse of First Republic Bank does not directly impact the global economy, it raises concerns about the stability of America banking system, Clearly, eight hikes in rates over the past year have been very painful for small and medium-sized banks in the US—which means First Republic Bank’s downfall probably won’t be the last. A possible bankruptcy of the bank could trigger a wider financial crisis in the country, affecting the bank real estate market and many other related industries—which could have wide-ranging implications Global Economy, ,

asian stock market today

Asian equity markets opened mixed today as trading resumed on various exchanges after a gap of stock market holiday on May 1, 2023. Hong Kong’s Hang Seng is up 1.58 per cent while South Korean KOSPI is up 0.77 per cent.

Indicating a weak opening on Dalal Street on Tuesday, SGX Nifty opened lower and continued to trade weak in a tight range of 45 points. The SGX Nifty opened at 18,264 today and went as low as 18,230.

us dollar price

After registering modest gains on Monday, the US dollar witnessed profit-booking during morning deals on Tuesday as the dollar index fell 0.09 per cent to 101.785.

Speaking on INR (Indian National Rupee) to US Dollar, Anuj Chowdhary, Research Analyst, Sharekhan by BNP Paribas said, “We expect Rupee to have slight positive bias on increase in risk appetite in global markets and fresh inflow of foreign investors.” However, a stronger US dollar may cap a sharp rise in the rupee. Traders may remain cautious ahead of India’s fiscal deficit and core PCE deflator from the US, which is the preferred gauge of inflation. US Federal Reserve, We expect USDINR spot to trade in the range of 81.30 to 82.20 in the near term.”

crude oil price

In morning trade in the Asian stock market, WTI crude oil price fell by 0.18 per cent to USD 75.60 per barrel, while Brent crude oil price was at USD 79.24 per barrel.

“For the coming week, crude oil price has immediate support 6050 and then MCX has resistance at 5800 level 6400 level and then 6700 level. Crude oil has a weak outlook and we recommend Sell at higher levels in Crude oil prices. Brent crude oil price is trading around $80 per barrel. We are expecting it to test $75 to $73 levels very soon,” said Anuj Gupta of IIFL Securities.

US bond yield

In the morning session, the US 10-year bond yield declined 0.65 per cent to 3.551, while the US 30-year bond yield edged up 0.49 per cent to 3.798.

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.