SGX Nifty down 200 points; here's what changed for market while you were sleeping

The domestic equity market was set for a gap-down start on Wednesday, following gloom in global equity markets. US stocks setted sharply lower during overnight trade. Asian stocks also opened lower this morning. Firm dollar and rise in crude will dent sentiments further. Back home, Rainbow Children's IPO will open today while LIC will announce its price band. Here's breaking down the pre-market actions:

STATE OF THE MARKETS

SGX Nifty signals negative start
Nifty futures on the Singapore Exchange traded 199.5 points, or 1.16 per cent, lower at 17,028.50, signaling that Dalal Street was headed for a negative start on Wednesday.

• Tech View: Nifty50 on Tuesday filled up the recent gap area of 17,054-17,149 and settled above the 17,200 level on a closing basis. It was only a few points away from its 200-day simple moving average. Analysts see tough resistance ahead.
• India VIX: The fear gauge tanked as much as 10 per cent to 19.19 level on Tuesday over its close at 21.26 on Monday.

Asian shares in red
Major Asian stocks slide in early trade Wednesday following a rout on Wall Street fuelled by fears about the economic outlook owing to a range of problems including China's Covid lockdowns and US interest rate hike plans. MSCI's index of Asia-Pacific shares outside Japan was down by 0.88 per cent.

• Japan's Nikkei tanked 1.73%
• Australia's ASX 200 dropped 0.75%
• South Korea's Kospi plunged 1.53%
• China's Shanghai shed 0.09%
• Hong Kong's Hang Seng fell 0.54%

US stocks end sharply lower
Wall Street ended sharply lower on Tuesday, with the Nasdaq closing at its lowest since December 2020 as investors worried about slowing global growth and a more aggressive Federal Reserve.

• Dow Jones tanked 2.38 % to 33,240.18
• S&P 500 tumbled 2.81% to 4,175.20
• Nasdaq slumped 3.95% to 12,490.74

Dollar near pandemic levels
The dollar stood at its highest level since the early days of the pandemic on Wednesday and was heading for its best month since 2015, supported by the prospect of U.S. rate hikes and on safe-haven flows fanned by slowing growth in China and Europe

• Dollar Index jumped up to 102.37
• Euro was bought at $1.0635
• Pound softened to $1.2560
• Yen gained a bit to 126.96 per dollar
• Yuan exchanged hands at 6.5902 against the greenback

Oil prices extend gains
Oil prices rose in early Asian trade on Wednesday, extending gains from the previous session after China's central bank said it would support its economy.

Brent crude futures rose $1.11, or 1.1 per cent, to $106.10 a barrel. US West Texas Intermediate crude futures rose 84 cents, or 0.8 per cent, to $102.54 a barrel.

FIIs sell shares worth Rs 1,174 cr
Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 1,174.05 crore, data available with NSE suggested. DIIs turned net buyers to the tune of Rs 1,643.84 crore, data suggests.

Q4 earnings today
HUL, Bajaj Auto, Trent, HDFC Asset Management Company, Indian Hotels Company, Persistent Systems, Syngene International, Hatsun Agro, KPR Mills, Indian Energy Exchange, Mahindra Lifespace Developers and Supreme Petrochem are among the companies that will announce their March quarter results today.

Stocks in F&O ban today
None of the stocks are under the F&O ban for Tuesday. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 per cent of the market-wide position limit.

Rainbow Children's Medicare IPO
The Rs 1,501 crore initial public offering of Rainbow Children's Medicare will kick off for subscription today. The multi-speciality pediatric, obstetrics and gynaecology hospital chain is selling its shares in the range of Rs 516-542 apiece. The issue of the footwear player can be subscribed till April 29.

MONEY MARKETS
Rupee: Snapping its two-day losing streak, the rupee rose by 8 paise to close at 76.56 against the US dollar on Tuesday following a rebound in regional currencies and expectations of foreign fund flows as the LIC IPO is likely to hit markets early in May.

10-year bonds: India 10-year bond jumped 0.14 per cent to 7.05 after trading in 7.03 - 7.09 range on Tuesday.

Call rates: The overnight call money rate weighted average stood at 3.57 per cent on Tuesday, according to RBI data. It moved in a range of 2.30-3.90 per cent.