In the absence of any major triggers, market participants will focus on upcoming earnings for direction. In today’s trade, shares of banking heavyweights HDFC Bank and Kotak Bank will be in focus following Q2 results.
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 higher by 22 points, or 0.09 per cent, at 24,927, signaling that Dalal Street was headed for positive start on Monday.
- Tech View: Follow-through upmove from here is expected to confirm a crucial bottom reversal pattern. Immediate support is at 24,500 and the next overhead resistance is placed around 24,950-25,000 levels, said Nagaraj Shetti of HDFC Securities.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 2.61% to settle at 13.04 levels.
US stocks end higher
The Dow Jones Industrial Average and S&P 500 chalked up record closing highs on Friday, with the Nasdaq also in positive territory, as markets were boosted by an earnings-driven jump in Netflix shares and broader gains across technology stocks.Asian shares mixed
Asia’s benchmark stock index traded in a narrow range early Monday, while gold touched a record high as tensions in the Middle East stoked demand for the asset as a haven.
- S&P 500 futures rose 0.1% as of 8:59 a.m. Tokyo time
- Hang Seng futures fell 0.4%
- Australia’s S&P/ASX 200 rose 0.7%
Bitcoin at 3-month high
Cryptocurrency bitcoin hit a three-month high in early Asia trading on Monday and the dollar looked set to extend its gains in markets counting down to the U.S. presidential election in two weeks.
Stocks in F&O ban today
1) Chambal Fertilisers
2) SAIL
3) Hindustan Copper
4) Aarti Industries
5) Granules
6) Birla Soft
7) PNB
8) GNFC
9) IDFC First Bank
10) Tata Chemicals
11) IEX
12) Nalco
13) LTF
14) Bandhan Bank
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 turned net sellers at Rs 5,486 crore on Friday. DIIs bought shares worth Rs 5215 crore.
Rupee
The rupee traded on a flat note to settle just 1 paisa lower at 84.07 against the US dollar on Friday as lower crude oil prices and a weak greenback offset the impact of persistent foreign capital outflows.
FII data
The net short of FIIs reduced from Rs 1.69 lakh crore on Thursday to Rs 1.62 lakh crore on Friday.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
