Stock Market Today: SGX Nifty plunges 244 points; many Asian markets closed for public holiday; all eyes on HDFC Q4 results

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SGX Nifty signals a gap-down start

Nifty futures on the Singapore Exchange traded 244.5 points, or 1.43per cent, lower at 16,880, signaling that Dalal Street was headed for a negative start on Monday.

Tech View: Nifty50 bears get an edge on bulls

Nifty50 on Friday formed a Bearish Engulfing pattern on the daily chart and settled below its 200-day and 50-day simple moving averages. On the weekly scale it formed a small bullish candle with a long upper wick, suggesting selling at higher levels. Analysts are not optimistic as they see the index consolidating and eventually slipping below 16,800 in coming days.

Tokyo shares drift lower with eyes on Fed

Tokyo shares drifted lower on Monday ahead of three consecutive public holidays, as investors focused on an upcoming US Federal Reserve monetary policy meeting. The Nikkei 225 index opened flat then slipped 0.52 percent, or 139.55 points, to 26,708.35 in morning trade while the broader Topix index fell 0.23 percent, or 4.33 points, to 1,894.73.

Asian markets closed for holidays

Financial markets in China, Hong Kong, Indonesia, Singapore, Taiwan and Thailand are closed on Monday for public holidays.

US stocks settled sharply lower on Friday

The Dow Jones Industrial Average slumped more than 900 points Friday as another sharp sell-off led by technology stocks added to Wall Street’s losses in April, leaving the S&P 500 with its biggest monthly skid since the start of the pandemic. The S&P 500 fell 155.57 points to 4,131.93 Friday. The Dow dropped 939.18 points to 32,977.21. The Nasdaq slid 536.89 points to 12,334.64. The benchmark S&P 500 fell 3.6% and finished April with an 8.8% loss, its worst monthly slide since March 2020. The Dow slumped 2.8%.

Rupee rises 11 paise to 76.50 as dollar retreats from 20-yr high

The rupee appreciated by 11 paise to close at 76.50 against the US dollar on Friday as the greenback retreated from its 20-year high. Expectations of foreign fund inflows in LIC IPO which will open next week, and possible central bank’s intervention also supported the rupee sentiment. At the interbank forex market, the domestic unit opened at 76.62 against the US dollar. It moved in the range of 76.63 to 76.29 during the day trade.

Sensex, Nifty on Friday

Paring its early gains, benchmark BSE Sensex plunged by 460 points on Friday due to profit booking in banking, IT, and energy shares in the pre-close session. The 30-shares index had opened higher and touched a high of 57,975.48 amid a firm trend in global markets. However, the barometer succumbed to heavy profit-booking at the fag-end. The BSE index closed at 57,060.87, showing a loss of 460.19 points or 0.80 per cent. The NSE Nifty tanked 142.50 points or 0.83 per cent to 17,102.55.

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