USDINR spot closed 17 paise lower at 82.19, thanks to risk on mood in stock market and softness in the US Dollar index. Over this week, corporate dollar inflows can push the pair lower. We could see a range of 81.70 and 82.50.
US consumer confidence ticks up in March
Asian indices trade higher with Hang Seng gains 2.5%, Nikkei up 0.4%
FNO expiry could keep the markets volatile: Siddhartha Khemka
SGX Nifty indicates a flat start for the Indian indices
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 57,613.72 | -40.14 | -0.07% |
| Nifty 50 | 16,951.70 | -34.00 | -0.20% |
| Nifty Bank | 39,567.90 | 136.60 | +0.35% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| IndusInd Bank | 1,036.15 | 23.30 | +2.30% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Adani Enterpris | 1,600.85 | -122.20 | -7.09% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Bank | 39567.90 | 136.60 | +0.35% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Auto | 11917.95 | -117.15 | -0.97% |
USDINR spot closed 17 paise lower at 82.19, thanks to risk on mood in stock market and softness in the US Dollar index. Over this week, corporate dollar inflows can push the pair lower. We could see a range of 81.70 and 82.50.
Consumer confidence inched up in March after two straight monthly declines, even as persistent inflation, bank collapses and anxiety over a possible recession weighed on American households.
The Conference Board reported Tuesday that its consumer confidence index rose to 104.2 in March from 103.4 in February. Optimism about current conditions fell, though consumers grew slightly more positive about the short-term future. That's a reversal from recent surveys.
The board said that despite the uptick in confidence, the index remains below 2022's average level of 104.5.
Nifty opened positive in line with global peers, but soon gave up its initial gains. The index traded in red for the remaining part of the day to finally close with loss of 34 points at 16952 levels. Except Banking and financial services, all sector ended in red.
There are no clear cues from the global markets, as they remain cautious due to the ongoing banking crisis amidst the rising interest rate environment.
Investors would also watch for US & UK GDP data, which could provide some cues. On domestic front, monthly FNO expiry on Wednesday could keep the markets volatile given the high FII short positions.
Trends on SGX Nifty indicate a flat start for the broader index in India, with a gain of 12 points or 0.07 percent. The Nifty futures were trading around 17,0002 level on the Singaporean Exchange at 7:25 IST.
Indian benchmark indices ended marginally lower in yet another volatile session on March 28, with the Sensex down 40.14 points or 0.07 percent to end at 57,613.72, and the Nifty down 34 points or 0.20 percent at 16,951.70.
After a decent start, the market failed to hold on to the gains and gyrated between gains and losses in the lacklustre session amid selling seen across the sectors.
Adani Enterprises, Adani Ports, Tech Mahindra, Tata Motors and Hero MotoCorp were among the top Nifty losers, while gainers included IndusInd Bank, UPL, Power Grid Corporation, Dr Reddy's Laboratories and HDFC Bank.
On the sectoral front, the Nifty auto index declined 1 percent, information technology 0.88 percent, infra and metal 0.7 percent each, while infra and energy down 0.5 percent each. However, some buying is seen in the banking names.
The BSE midcap index declined 0.4 percent and the smallcap index fell 0.8 percent.
On the BSE, except metal and bank, all other sectoral indices ended in the red with power, realty and oil and gas down 1 percent each, while auto, capital goods and information technology down 0.8 percent each.
