STATE OF THE MARKETS
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 86.5 points, or 0.48 per cent, per cent higher at 18,289.5, signaling that Dalal Street was headed for a positive start on Monday.
- Tech View: Domestic headline equity index Nifty today formed a bullish candle on the daily scale and a long bull candle on the weekly charts, indicating that the bulls may get stronger going forward.
- India VIX: Despite the risk-off mood in the market, the volatility index fell amid closure of positions in the Nifty50 options ahead of the weekly expiry. The ‘fear gauge’ ended 1.8% lower at 15.66.
Asian stocks gain in the early trade
Major Asian stocks opened higher on Monday as global market sentiment improved on solid US jobs data and hopes for an economic reopening in China. MSCI’s index of Asia-Pacific shares outside Japan was trading 0.63 per cent higher.
- Japan’s Nikkei jumped 1.29%
- Australia’s ASX 200 gaied 0.36%
- New Zealand’s DJ added 0.19%
- South Korea’s Kospi surged 0.70%
- China’s Shanghai dropped 0.30%
- Hong Kong’s Hang Seng rally 1.13%
US stocks rally on Friday
US stocks advanced in volatile trade on Friday as investors digested a mixed jobs report and comments from Federal Reserve officials on the pace of interest rate hikes and the odds of a recession.
- Dow Jones jumped 1.26% to 32,403.22
- S&P 500 soared 1.36% to 3,770.55
- Nasdaq advanced 1.28% to 10,475.25
Dollar gains over China’s COVID policy
The dollar climbed on Monday as sentiment soured after China said it is sticking with its strict COVID restrictions, quashing hopes of an imminent reopening in the world’s second-largest economy which had earlier fired a broad rally in riskier assets.
- Dollar index was firm at 111.09
- Euro was little changed to $0.9930
- Pound edged lower to $1.1324
- Yen was struggling at 147.05 per dollar
- Yuan exchanged hands at 7.2056 against the greenback
Crude oil prices drop
Oil fell after China signaled no relaxation of its Covid Zero stance, setting back the outlook for consumption in the largest crude importer. West Texas Intermediate sank toward $91 a barrel.
Foreign portfolio investors (FPIs) net bought stocks worth Rs 1,436.25 crore on Friday, provisional data showed. DIIs net sold shares to the tune of Rs 548.59 crore.
Stocks in F&O ban today
Only one stock-
Finance- is in the ban period under the F&O segment including companies in which the security has crossed 95% of the market-wide position limit.
Rupee: The rupee appreciated by 53 paise to close at 82.35 against the US dollar on Friday, boosted by persistent foreign fund inflows and a weakening greenback overseas.
India’s foreign exchange reserves rose to $531.081 billion for the week ended October 28, a jump of $6.561 billion over the previous week. According to the Reserve Bank of India (RBI), the overall reserves had dropped by $3.847 billion to $524.52 billion in the previous week.
, Divi’s Laboratories, Bharat Petroleum, , , , (Maharashtra), , KRP Mill, , and Affle (India) are among the companies that will announce their results for September 2022 quarter today.
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