STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 71 points, or 0.29 per cent, at 25,169.50, signaling that Dalal Street was headed for positive start on Monday.
- Tech View: A decisive breakout above 25,200 would mark the beginning of a fresh uptrend, with potential to gradually move toward the 25,600–25,800 zone. On the downside, the 24,400–24,600 range is expected to act as a strong support zone during any corrective phase.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 3% to settle at 14.63 levels.
US stocks end higher
U.S. stocks closed sharply higher on Friday and U.S. Treasury yields jumped as a generally upbeat employment report and bounce-back in Tesla shares helped the indexes notch weekly advances.Asian shares gain
Asian stocks opened higher Monday with the US and China set to resume trade negotiations, while positive jobs data in the world’s largest economy eased recession fears.
- S&P 500 futures were little changed as of 9:09 a.m. Tokyo time
- Japan’s Topix rose 0.7%
- Euro Stoxx 50 futures rose 0.3%
Dollar steadies
The dollar held steady against all major currencies on Monday, as exuberance over an upbeat U.S. employment report gave way to caution ahead of pivotal U.S.-China trade talks set to take place in London later in the day.
Gold falls
Gold prices fell on Monday as a stronger-than-expected U.S. jobs report cooled expectations of interest rate cuts from the Federal Reserve, while optimism over easing trade tensions between U.S.-China weighed on the bullion’s safe-haven demand.
Oil gains
Oil prices held on to last week’s gains early on Monday as investors waited for U.S.-China trade talks to be held in London later in the day. Brent crude futures were flat at $66.47 a barrel at 0008 GMT. U.S. West Texas Intermediate crude was trading up 1 cent at $64.59.
Stocks in F&O ban today
Manappuram
ABFRL
Chambal Fertilisers
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 net bought shares worth Rs 1,010 crore on Friday. DIIs, meanwhile, were net buyers at Rs 9342 crore.
Rupee
The rupee pared initial losses and appreciated 11 paise to close at 85.68 against the US dollar on Friday, after the Reserve Bank cut repo rate by a higher-than-expected 50 basis points to prop up growth.
FII data
The position of FIIs in the futures market increased from a net short of Rs 1.06 lakh crore on Thursday to Rs 92,600 crore on Friday.
