Important Information For September 7 Stock Trading Strategy

The foreign institutional investors bought shares worth Rs 1,144 crore, whereas the domestic institutional investors bought shares worth Rs 632 crore

Outlook Business Team

Updated on: 7 September 2022 8:30 am

Source-Press Trust Of India.

The Indian equity benchmarks are likely to open on a negative note on Wednesday as indicated by the Nifty Futures indicated in Singapore Exchange. The SGX index was trading 202.5 points or 1.15 per cent lower at 17,472.

Here are the key things to know before markets open on Wednesday.

US Markets

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The US stocks ended lower on Tuesday, marking the fourth straight week of losses, as investors worry about inflation and an aggressive rate hike by the US Federal Reserve. The S&P 500 slumped 16.07 points or 0.4 per cent to 3,908, whereas the Dow Jones Industrial Average declined by 173.14 points or 0.6 per cent to 31,145. While the Nasdaq slipped 85.96 points or 0.7 per cent to 11,544, the Russell 2000 index dropped 17.42 points or 1 per cent to 1,792.

Asian Markets

The Asian stocks were trading on a mixed note on Tuesday. Japan’s Nikkei 225 index slipped sharply by 1.09 per cent, whereas Singapore’s Hang Seng index was trading 1.53 per cent lower. South Korea’s KOSPI plunged 1.53 per cent. China’s Shanghai Composite was trading marginally higher by 0.15 per cent, whereas Shenzhen Component was trading flat.

Gold and Crude Oil Prices

Crude oil prices fell on Tuesday amidst concerns about the rate hikes by the US Federal Reserve, and OPEC+ slashing output since October. Brent crude was trading $2.91 or 3 per cent lower at $92.83 per barrel, whereas US West Texas Intermediate surged 1 cent to settle at $86.88 per barrel.

Gold prices fell on Wednesday. Spot gold slumped 0.3 per cent at $1,696 per ounce, whereas US gold futures slipped 0.3 per cent at $1,708.

Foreign Flows

The foreign institutional investors bought shares worth Rs 1144 crore, whereas the domestic institutional investors bought shares worth Rs 632 crore.

Stocks To Watch

InterGlobe Aviation- Petrus Johannes Theodorus Elbers joined InterGlobe Aviation, the parent company of IndiGo airline as the chief executive officer with effect from September 6.

Wipro: The IT major has entered an expanded collaboration with Palo Alto Networks to deliver managed security and network transformation solutions like secure access service edge (SASE), cloud security, and next-generation security operations centre (SOC) solutions based on Zero Trust principles for global enterprises.