Opening Bell: SGX Nifty Signals A Negative Start For Share Market

Opening Bell: SGX Nifty drops 80 points, or 0.44 percent, lower at 18,161.50, hinted a weak start for the domestic market on Thursday. Indian shares opened lower on Thursday, tracking a slide in global equities, as investors fretted over the surge in COVID cases in China. Sensex falls over 250 points or 0.4 percent, Nifty below 18,050.

Rupee rises 3 paise to 82.77 against US dollar in early trade. Crude oil down on china demand recovery worries.  Brent crude fell below $83 per barrel while U.S. crude hovered around $79 per barrel. ONGC share will be in focus as crude oil falls overnight.

Most of the major sectoral indexes declined, with information technology, auto, oil and gas, and metals shedding over 0.5 percent.

Gold and silver are trading on the lower side of Multi Commodity Exchange (MCX) on thrusday. Gold prices slide below $1,810/oz following a rise in dollar. The negative trend has been seen in the price of gold and silver on MCX on Wednesday, too.

Wall Street equities closed lower overnight after investors assessed the U.S. Federal Reserve’s rate hike path on mixed economic data released earlier in the week and concerns over a surge in COVID-19 cases in China.

Asian markets also declined, with the MSCI Asia ex-Japan index losing 1.03 percent. Hong Kong and Tokyo were both down more than one percent in early trade. Sydney, Singapore, Shanghai, Taipei and Seoul are also trading in the red.

Also read: Opening Bell: SGX Nifty Indicates An Opening In Red For Indian Market

Global indices

Opening Bell: United State, S&P 500 is trading 1.20 percent lower at 3,783.22. Dow Jones is trading in red with loss of 1.10 percent at 32,875.71.

SGX Nifty is trading 0.69 percent lower at 18,008.00.

Japan, Nikkei 225 is trading 1.08 percent lower at 26,055.42. Straits Times is trading 0.85  percent lower at 3,239.14.

China, Hang Seng  is trading with the loss of 0.96 percent at 19,708.45. Taiwan Weighted is trading 0.55 percent lower at 14,094.44.

South korea, Kospi is trading 1.49 percent lower at 2,246.49. Shanghai Composite is trading 0.37 percent lower at 3,075.91.

Intraday volatility will be a factor in today’s session ahead of the expiry of the December derivatives series, the last series of 2022, as traders settle their futures and options contracts.

Also read: Closing Bell: Stock Markets End Flat On Mixed Global Cues