GIFT Nifty up 30 points; here's what changed for market while you were sleeping - Economic Times

Benchmark indices eked out marginal gains on Monday amid weak global cues and profit booking at higher levels.

"With Q1 result season starting this week, we expect stock-specific action in the market, starting with the technology sector. Also, monsoon-related stocks are likely to remain in momentum," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

Option data suggests a broader trading range in between 19100 to 19700 zones while an immediate trading range in between 19200 to 19500 zones.

Here's breaking down the pre-market actions:

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded 29 points, or 0.15 per cent, higher at 19,485.50, signaling that Dalal Street was headed for positive start on Tuesday.

• Tech View: Bulls managed to defend the support level of 19300, preventing a significant decline. However, the hourly RSI indicated a bearish crossover. This suggests a potential shift towards a downward trend. If the support level of 19300 is breached, a correction in the market may be expected. On the upside, resistance levels are anticipated around 19450-19500.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 0.61% to settle at 11.46 levels.

US stocks rise
U.S. stocks ended higher on Monday following last week's losses, while Federal Reserve officials' comments bolstered the view that the U.S. central bank may be near the end of its tightening cycle.

• Dow ends up 0.62%,
• S&P 500 rise 0.24%,
• Nasdaq gains 0.18%

Asian shares gain
Asian equities rose following gains on Wall Street and after China stepped up support for its struggling property market.

• S&P 500 futures were little changed as of 9:07 a.m. Tokyo time. The S&P 500 rose 0.2%
• Nasdaq 100 futures were little changed. The Nasdaq 100 rose less than 0.1%
• Japan’s Topix index rose 0.3%
• Australia’s S&P/ASX 200 Index rose 0.5%
• Hong Kong’s Hang Seng futures rose 0.5%

Oil edges higher
Oil prices edged higher on Tuesday, recouping some of the losses from the previous session, as traders focused on supply cuts by the world's biggest oil exporters Saudi Arabia and Russia and awaited data that could help ascertain demand.

Dollar slips
The dollar weakened on Tuesday after Federal Reserve officials signalled that the central bank was nearing the end of its tightening cycle, though it traded in a tight range ahead of a key U.S. inflation report.

Stocks in F&O ban today

1) BHEL

2) Delta Corp

3) Granules

4) India Cements

5) Indiabulls Housing Finance

6) PNB

7) ZEEL

Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

FII/DII action
Foreign portfolio investors were net buyers at Rs 588 crore on Monday. DIIs too bought shares worth Rs 288 crore.

Rupee
The rupee consolidated in a narrow range and settled for the day higher by 2 paise at 82.59 against the US dollar on Monday, amid a muted trend in domestic equities.

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GIFT Nifty up 30 points; here's what changed for market while you were sleeping - Economic Times
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