The market is expected to open a little bit higher today because the SGX Nifty shows a good start for the wider index with a gain of 21 points after starting the session at 18,724 points. In early trading on June 27, SGX futures reached a high of 18,759 points.
The BSE Sensex stayed below the 63,000 mark at the previous close, falling 0.015 percent to 62,970. The Nifty50, on the other hand, rose 26 points to 18,691 and formed a Doji-like candlestick pattern on the daily charts, which shows that buyers and sellers aren’t sure about the market’s future direction.
The pivot point tool shows that the Nifty might find support at 18,658, then 18,640, and then 18,611. On the other hand, if the index rises, 18,715, 18,733, and then 18,762 could be important resistance areas.
Follow Business Headline to find out what’s going on in the currency and stock markets today. We’ve put together a list of important news stories from different sources that could affect markets in India and around the world.
SGX Nifty
With a rise of 21 points on Tuesday, the SGX Nifty forecasts a slightly higher start for the wider index. This is shown by the fact that the index is higher. At the time of writing, SGX futures were trading at 18,725 points.
US Markets
On Monday evening, stock futures were trading moderately higher as investors looked forward to the next batch of economic data and prepared for the end of the second quarter and the month of June. The increase in the value of Dow Jones Industrial Average futures was equivalent to 0.1 percent, or 41 points. Futures contracts for the S&P 500 index and the Nasdaq 100 also rose by around 0.2 percent.
These developments come after a day of falling prices on Wall Street. Investors took gains on several technology firms, which contributed to a decline of roughly 1.2 percent for the Nasdaq Composite Index, which led the way down. Tesla had a decline of six percent, while Nvidia, Alphabet, and Meta Platforms all closed with losses of more than three percent.
The S&P 500 concluded the day with a loss of almost 0.5 percent, while the Dow finished just slightly below flat. The Dow Jones Industrial Average lost ground for the sixth session in a row, extending its losing streak to its longest level since September 2022. Despite the decline that occurred on Monday, the S&P 500 and Nasdaq are still on track to end the month of June with gains of more than 3 percent, while the Dow is headed for a monthly increase of almost 2.5 percent.
European Stock Exchanges
As investors processed poor economic signals after a disappointing week, stock prices on European markets ended the day with a modest loss. At the conclusion of a volatile trading day, the pan-European Stoxx 600 index temporarily finished at a lower level by 0.1 percent. Increases were led by an increase of 0.9 percent in the chemical sector, while increases of 0.8 percent were seen in the oil and gas sector. The highest drop, 1.1 percent, was seen in the stocks of companies in the health care industry. The FTSE finished the day down 0.11 percent, at 7453 points. The DAX finished the day down 0.11 percent, at 15,813 points.
Asian Markets
After a tech sell-off on Wall Street on Monday, markets in Asia and the Pacific are showing mixed results. Tesla’s stock dropped by 6 percent after Goldman Sachs downgraded the electric vehicle manufacturer and cited price challenges as the reason for the downgrade. Other well-known technology companies, such as Nvidia, Alphabet, and Meta Platforms, each had a loss of more than 3 percent.
The S&P/ASX 200 began higher in Australia by 0.28 percent as investors awaited the release of inflation numbers for May on Wednesday. These figures will provide a hint as to how the Reserve Bank of Australia may adjust interest rates in August.
After three consecutive days of decreases, the Nikkei 225 continued its downward trend in Japan with a loss of 0.25 percent, while the Topix only had a slightly lesser loss of 0.06 percent.
Both the Kospi and the Kosdaq of South Korea were trading down in the early going, with the Kospi falling 0.46 percent and the Kosdaq down 0.53 percent, respectively. The futures for the Hang Seng index in Hong Kong are now trading at 18,894, which is a significant increase from the index’s previous closing price of 18,794.13 points.
Google has filed an appeal against the NCLAT ruling that upheld the anti-trust penalty of Rs 1,338 crore
The prominent technology company Google has appealed the decision of the National Company Law Appellate Tribunal (NCLAT) to sustain a penalty of 1,338 crore Indian rupees for anti-trust offences by filing an appeal with the Supreme Court.
“Today, we took the matter of the judgement made by the NCLAT in the Android issue all the way up to the Supreme Court by filing an appeal. The NCLAT came to the right conclusion that it is necessary to provide proof of damage in cases involving anti-competitive behaviour; nevertheless, it did not apply this condition to many of the CCI’s instructions that it affirmed. “We look forward to presenting our case before the Supreme Court and demonstrating how Android has benefited Indian users, developers, and OEMs and how it has powered India’s digital transformation,” a representative for Google said in a statement. “We look forward to demonstrating how Android has benefitted Indian users, developers, and OEMs.”
Cyient DLM IPO opens today; will be the second public issue this week
After IdeaForge Technology’s initial public offering (IPO), which was launched on Monday, Cyient DLM, which is a subsidiary of the software services company Cyient, will be the second public issue that will open for subscription this week.
Oil prices
Oil prices reversed early gains on Monday, reflecting a general calm in financial markets as investors waited nervously to see if there would be additional impact from an attempted uprising in Russia that might disrupt energy supplies from one of the world’s major oil-producing countries. The attempted insurrection in Russia may disrupt energy supplies from one of the world’s largest oil-producing nations.
On Saturday, mercenaries under the command of Yevgeny Prigozhin, the commander of the Wagner group of private militia, began their march into Moscow. This development was considered the most significant challenge to Vladimir Putin’s hold on power in the last 23 years. Before the violent uprising was quickly called off, less than twenty-four hours after it had begun, the militia group apparently gained control of the southern city of Rostov-on-Don, which is located where many important oil and gas pipelines meet with one another.
Collectively, the world would have breathed a sigh of relief, at least on the oil market side, that the disruption in the Russian state did not go through the worst that people feared,” Alok Sinha, global head of oil & gas and chemicals for Standard Chartered, told CNBC on Monday. Sinha was speaking on behalf of Standard Chartered’s oil and gas and chemicals divisions.
West Texas Intermediate futures were up almost 0.8 percent at $69.74 after first climbing by as much as 1.3 percent to just below $70 a barrel earlier on Monday, followed by a decrease of over 4 percent during the course of the previous week. At $74.47 a barrel, the price of Brent oil had increased by approximately 0.8 percent.
Dollar
While the value of one dollar held close to Rs 82.00, the Dollar index traded 0.08 percent higher in futures at 102.78, where it traded at a price of Rs 82.00.
Gold
Concerns over the political turbulence in Russia pushed flows into safe-haven bullion, which outweighed dangers from the Federal Reserve’s hawkish stance, which resulted in gold prices increasing on Monday above the more than three-month low that was reached in the previous trading session. Gold prices in the spot market rose by 0.2 percent to $1,925.53 per ounce, while the price of gold in futures contracts rose by 0.4 percent to $1,938.00.
“We are seeing some modest safe-haven demand in gold on the Russian incursion that was quickly aborted over the weekend,” said one analyst. “The Russian incursion was quickly stopped over the weekend. “However, there are still lingering concerns,” said Jim Wyckoff, a senior analyst at Kitco.
“The market is wondering what will happen next since it looks like the Russian military is destabilising the situation. It seems as if Putin is aware that his influence is declining, which has significant repercussions all around the globe.
The FII and the DII
On June 26, preliminary data from the National Stock Exchange revealed that shares worth a total of Rs 409.43 crore were sold by foreign institutional investors (FII), while shares worth a total of Rs 250.12 crore were acquired by domestic institutional investors (DII).
include contributions from Reuters as well as other sources.
