US Earnings from SGX Nifty – Major trigger for Indian stock market today

Investors are also eyeing results from regional US banks after three banks collapsed last month as lenders face pressure from rising interest rates.

Meanwhile, Indian shares market Continuing Monday’s decline, it moved in a narrow range and closed marginally lower. We are largely seeing earnings based reactions in the absence of any major events. Banking and financials carry considerable weight in the benchmarks and their resilience indicates further upside,” said Ajit Mishra, VP – Technical Research, Religare Broking.

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Major global market triggers that can affect the Indian stock market today:

american stock market

wall Street shares It ended little changed on Tuesday after a day that saw no major changes. The Dow ended down 0.03 percent while the S&P 500 gained 0.09 percent. The Nasdaq lost 0.04 percent.

Bank of America climbed 0.6 percent after posting a higher gain, boosted by higher interest rates, while Goldman Sachs fell 1.7 percent on a slowdown in corporate mergers.

“A tale of two very different banking giants unfolds as Goldman Sachs gets bogged down in dealmaking while good times run out for Bank of America, which made a big windfall from higher interest rates,” said Susannah Streeter , head of money and markets at Hargreaves Lansdowne Brokerage.

The early quarterly results from S&P 500 companies come as investors are bracing for a dismal reporting season, fueling fears that the economy may be teetering on the brink of recession.

“We’re seeing the calm before the storm here as far as earnings are concerned,” said Brad McMillan, chief investment officer at Commonwealth Financial Network. “The market is just trying to see whether we have some upside here or not, and I think it’s really going to come down to earnings over the next few weeks.”

asian stock

Asian equities opened flat on Wednesday after shares on Wall Street were little changed as investors weighed earnings and comments from Federal Reserve officials who favor frequent rate hikes.

Major indices from Japan to South Korea Australia were little changed while futures for Hong Kong’s main share gauge fell 0.3 per cent. US equity contracts declined slightly at the start of Asian trade.

The S&P 500 fluctuated before ending Tuesday only up 0.1 percent, while the Cboe Volatility Index plunged to its lowest level since January last year, falling below 17. The lowest level since February last year.

Players will also be watching more Chinese data for possible positive signs of expansion.

During the Shanghai lockdown, SPI Asset Management’s Stephen Innes wrote in a statement: “Investors expect further improvement in Chinese activity data over the next few months, a continued reopening impulse, still-accommodative macro policies and a positive outlook for 2022.” Base less than Q2.” Comment.

sgx nifty flat

The Nifty futures on the Singapore Exchange were trading 21.5 points, or 0.12 per cent, lower at 17,700. SGX Nifty is trading flat against Tuesday’s close, indicating a sluggish opening for the Indian market.

oil prices

Oil prices edged higher in early Asian trade today as US crude inventories declined and strong economic data from China showed firm fuel demand.

Brent crude futures were up 7 cents at $84.84 a barrel by 0020 GMT. US crude West Texas Intermediate rose 3 cents to $80.89 a barrel.

Market experts cited data from the American Petroleum Institute on Tuesday, buoying prices on an industry report that US crude inventories fell by about 2.68 million barrels in the week ended April 14.

Elsewhere in the markets, bitcoin, the largest cryptocurrency by market value, held slightly above the closely watched $30,000 level. Gold remained flat on Tuesday after halting its two-day fall.

with agency inputs