Home » SGX Nifty up 160 points; here’s what changed for market while you were sleeping

SGX Nifty up 160 points; here’s what changed for market while you were sleeping

by WorldFinance
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Strong trends in global markets after an encouraging jobs report in the US is likely to help domestic equities to start the week on a positive note. All eyes will be on the earnings season now, which kickstarts with Tata Consultancy Services, which will release December quarter numbers later on Monday. Options of the Nifty 50 indicate a broad trading range of 17800-18500 points for the index.Here’s breaking down the pre-market actions:STATE OF THE MARKETSSGX Nifty signals a positive startNifty futures on the Singapore Exchange traded 160 points, or 0.89 per cent, higher at 18,119, signaling that Dalal Street was headed for a positive start on Monday.Tech View: Nifty 50 has formed a bearish candle and an inside bar on the weekly charts. Till the index remains below 17950, further weakness could be seen towards 17777 and 17650 levels, whereas major resistances are placed at 17950 and 18081 levels. India VIX: Amid the weakness in the market on Friday, the volatility gauge ended 0.3% higher at 15.0250 points.US stocks riseEquities surged on Friday after the December jobs report and an economic activity survey showed signs of inflation cooling. This pointed to the effect that the recent rate hikes of the Federal Reserve had on the economy. Dow Jones: 33630.0 (2.1%)S&P 500: 3895.08 (2.3%)Nasdaq: 10569.2 (2.6%)Asian shares rally Asian shares rallied on Monday as hopes for less aggressive U.S. rate hikes and the opening of China’s borders bolstered the outlook for the global economy. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.6%, with South Korean shares gaining 1.1%.Oil nudges higher Oil prices edged up on Monday, a day after travellers streamed into China following a reopening of borders that lifted the fuel demand outlook and partly offset concerns of global recession. Brent crude futures had risen 53 cents, or 0.7%, to $79.10 a barrel by 0114 GMT while U.S. West Texas Intermediate crude was at $74.23 a barrel, up 46 cents, or 0.6%.Dollar tentative The U.S. dollar was steady on Monday as investors digested a clutch of economic data released last week that stoked hopes of the Federal Reserve slowing the pace of its interest rate hikes. FII/DII actionForeign portfolio investors (FPIs) on Friday net sold shares worth Rs 2,902 crore, provisional data showed. DIIs on the other hand, net bought shares to the tune of Rs 1,083 crore. Stocks in F&O ban todayIndiabulls Housing Finance. 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. Rupee: The rupee ended sharply lower against the dollar on Friday as the dollar index hit a 1-month high. The Indian unit settled at 82.7200 a dollar, down 0.2% from the previous close. Earnings8 companies to release earnings for the quarter ended December. Tata Consultancy Services is among the major one. Macro news* The US added 223,000 jobs in December, and the unemployment rate fell to a historical low of 3.5% while more people entered the workforce(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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