Before The Market Opens Today, These Are The Top Ten Things To Know

The broader index in India is expected to open with a gap-up gain of 110 points, according to SGX Nifty trends.

The Indian stock market is projected to open in the green, with SGX Nifty trends indicating a gap-up opening of 110 points for the broader index in India.

On March 28, the BSE Sensex rose 231 points to 57,593, while the Nifty50 rose 69 points to close at 17,222, forming a modest bullish candle on the daily charts that resembled a Hammer pattern formation.

The pivot charts show that the Nifty’s main support level is 17,072.23, followed by 16,922. The important resistance levels to watch if the index rises are 17,303 and 17,385.

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Keep an eye on Moneycontrol to see what’s going on in the currency and stock markets today. We’ve compiled a collection of noteworthy headlines from various news outlets that could have an influence on Indian and international markets:

On Monday, the S&P 500 gained for a third day, as a big rise in Tesla shares outweighed weakness in energy and bank sectors, while Russia and Ukraine were set to hold their first face-to-face peace talks in more than two weeks.

The Dow Jones Industrial Average increased by 94.65 points, or 0.27 percent, to 34,955.89, the S&P 500 increased by 32.46 points, or 0.71 percent, to 4,575.52, and the Nasdaq Composite increased by 185.60 points, or 1.31 percent, to 14,354.90.

Markets in Asia

Following a drop in oil prices overnight, stocks in Asia-Pacific climbed. In the meantime, Bitcoin rocketed through a major mark, while the yen continued to fall. The Hang Seng index in Hong Kong rose 0.77 percent in early trading. Mainland Shanghai’s composite index rose 0.31 percent, while Shenzhen’s component rose 0.51 percent. The Nikkei 225 in Japan was up 0.8 percent, while the Topix was up 0.69 percent.

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SGX Nifty Index

Before The Market Opens Today
Before The Market Opens Today

The broader index in India is expected to open with a gap-up gain of 110 points, according to SGX Nifty trends. On the Singaporean exchange, the Nifty futures were trading around 17,390.

Oil prices are falling due to concerns about China’s consumption and the prospect of peace talks with Ukraine.

On the potential of a big decline in fuel consumption, U.S. oil futures fell in early trade on Tuesday, extending losses from the previous session as Shanghai shut down to stem a surge of COVID cases and Ukraine and Russia went for peace talks.

After plunging over 7% on Monday, U.S. West Texas Intermediate (WTI) oil futures hit a low of $103.46 a barrel shortly after opening and were down $2.09, or 2%, at $103.87 at 2236 GMT. Brent crude futures were expected to open roughly $3 lower, following a 7% drop in the previous session.

Investors in Ruchi Soya FPO have a three-day window to withdraw their applications, according to SEBI.

On March 28, the Securities and Exchange Board of India (SEBI) granted all investors in Ruchi Soya Industries’ Rs 4,300 crore follow-on public offer (FPO) a three-day option to withdraw their applications. The directive came after the “distribution of unsolicited SMSes publicising the issue,” according to the regulatory agency. The purportedly sent messages to Patanjali Ayurved users advised them to invest in the deal.

Before The Market Opens Today
Before The Market Opens Today

“Exciting news for all Patanjali parivar members. Patanjali Group is a wonderful investment opportunity. Ruchi Soya Industries Ltd, a Patanjali Group subsidiary, has launched a Follow-On Public Offer (FPO) for retail investors. The deadline for submissions is March 28, 2022. This is available in the price range of Rs 615-650 rupees per share, which represents a 30% discount over the market price. The unsolicited mail stated, “You can apply for shares through your bank/broker/ASBA/UPI in your Demat account.”

Stocks, according to Goldman Sachs and JPMorgan strategists, can withstand a bond sell-off.

As a global bond selloff picks up steam, equity strategists from Goldman Sachs Group Inc. to JPMorgan Chase & Co. reassured stock investors that the inversion of the US treasury yield curve isn’t yet a cause for concern.

In a note, JPMorgan strategists led by Mislav Matejka stated, “Recessions don’t normally start ahead of the curve inverting, and the lead-lag might be very considerable, as long as 2 years.” “Further, equities tended to outperform bonds handsomely across this span,” they added, noting that the peak in equity markets often occurs a year following the inversion.

In February, the US goods trade deficit shrank

The goods trade deficit in the United States shrank in February, but the decrease was just a fraction of the rise to a record high in January, implying that trade will continue to weigh on economic growth in the first quarter. Though businesses continued to restock last month, according to the Commerce Department’s advance indicators report released on Monday, the pace dropped from late 2021, signalling that inventory investment would likely have no impact on GDP growth.

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Before The Market Opens Today
Before The Market Opens Today

According to the Commerce Department, the trade deficit decreased by 0.9 percent to $106.6 billion last month. In January, the goods trade imbalance reached an all-time high of $107.6 billion.

According to provisional data available on the NSE, foreign institutional investors (FIIs) net sold shares worth Rs 801.41 crore on March 28, while domestic institutional investors (DIIs) net bought shares worth Rs 1,161.70 crore.

As the BOJ acts against rising bond yields, the dollar reaches a 6-year high against the yen.

The dollar rose to a six-year high against the yen after the Bank of Japan took steps to curb rising bond yields, while U.S. Treasury yields hit fresh multi-year highs, underscoring a gap between the BOJ and other major central banks.

Treasury 10-year yields have risen to three-year highs, with the Federal Reserve projected to raise interest rates by a half-point in May to combat rising inflation, having begun its tightening cycle this month.

NSE stocks that are subject to a F&O ban

The F&O prohibition for March 29 affects three stocks: Vodafone Idea, PVR, and Sun TV Network. Companies in the F&O category that have crossed 95 percent of the market-wide position limit are included in the securities in the ban period.

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