Global Markets: SGX Nifty to US Dollar – Major triggers for the stock market today

Here we list down the important global stock market triggers that may guide the stock market today:

american stock market

The US stock market’s four-day rally was halted as banks experienced selling. After the end of Tuesday’s deals, the S&P 500 index corrected 0.58 percent, the Dow Jones index 0.59 percent, while tech heavyweight Nasdaq went down 0.52 percent.

due to improvement american stock market“Treasury prices climbed higher as soft data on job openings raised bets that the Federal Reserve could end its tightening campaign soon,” said Mark Despallieres, chief strategy and trading officer at Vantage. Wells Fargo A gauge of major financial institutions such as & Co. and Citigroup Inc. declined 2 percent each. Regional lenders such as First Republic Bank and Zions Bancorp also fell at least 4.8 percent.

Mark further noted that in his annual letter to shareholders, JPMorgan Chase & Co. CEO Jamie Dimon warned that the effects of the recent US banking crisis, which caused market turmoil last month, could be felt for years. Will.

US employers’ vacancies fell to their lowest level since May 2021, according to the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS). The yield on two-year Treasury notes has fallen 14 basis points to about 3.8%. The swap contracts cut the odds of a quarter-point rate hike in May from about 60 percent to less than 50 percent, citing Fed meeting dates.

us dollar price

The US dollar came under selling pressure and the dollar index again neared the 101 level, following speculations that the US Fed would end its interest rate tightening campaign. In Wednesday morning trade, the US dollar index was down 0.01 per cent at 101.245.

Anuj Chowdhary, Research Analyst, Sharekhan by BNP Paribas, on INR (Indian National Rupee) versus US Dollar said, “We expect Indian Rupee to trade with a negative bias on a strong dollar and rise in crude oil prices. May impact economic. Recovery. However, easing concerns over banking crisis in US may support riskier assets at lower levels. Traders can watch ISM Manufacturing PMI data from US. Monetary Policy Decision of RBI And investors may remain cautious ahead of US jobs market report later.USDINR spot price is expected to trade in a range this week from 81.60 82.80 in the near term.

crude oil price

In the morning session, wti crude Oil prices remained stable and quoted above $80 a barrel for the third day in a row. However, crude oil remained range-bound as the market digested weak US economic indicators.

asian stock market today

During morning deals, the Japanese Nikkei declined 1.34 per cent, the Shanghai index was down 0.49 per cent, Hong Kong’s Hang Seng was down 0.66 per cent, while South Korean KOSPI went up 0.18 per cent.

SGX Nifty is trading lower in morning deals but the index has managed to hold above 17,500 level. SGX Nifty opened with a fall today and moved to an intraday high of 17,578. However, profit-booking soon started and the SGX Nifty traded at a low of 17,511.

“Buying on dips should continue as the index is still looking strong on the chart pattern and has managed to sustain above 17,500,” said Anuj Gupta, Vice President (Research). IIFL Securities,

US bond yield

In the morning session on Wednesday, the US 10-year bond yield rose 0.61 per cent to 3.357, while the US 30-year bond yield rose 0.38 per cent to 3.608.

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.