SGX Nifty up 130 points; here’s what changed for market while you were sleeping

Indian equity markets are set to open on a higher note, thanks to the solid upside in global peers. US Stocks rallied on Friday, with a spillover effect visible in Asian peers during the early hours. Crude oil inched up ahead of the EU meet, whereas the US dollar weakened. Back home, Ethos will make its debut at the bourses whereas traders will keenly await ‘s first-ever results after listing. Here’s breaking down the pre-market actions:

STATE OF THE MARKETS


SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 132 points, or 0.81 per cent, higher at 16,469, signaling that Dalal Street was headed for a positive start on Monday.

  • Tech View: Nifty50 on Friday breached its 20-day simple moving average (SMA) and settled above the 16,350 level and formed a bullish candle on the daily chart and a ‘Hammer’ candle on the weekly chart, hinting at a reversal ahead. Analysts said a close above 16,400, the upper end of the ongoing consolidation range, can open up doors for an upside toward the 16,750 level. Downside supports are seen at 15,900 and 15,700 levels.
  • India VIX: The fear gauge dropped more than 5 per cent to 21.48 level on Friday over its close at 22.72 on Thursday.

Asian shares trade higher
Asian shares opened higher on Monday, extending gains on Wall Street, with investors shifting their focus to global economic indicators due this week. Easing of long-running Covid curbs in Shanghai boosted the confidence. MSCI’s index of Asia-Pacific shares outside Japan was up by 1.01 per cent.

  • Japan’s Nikkei advanced 1.76%
  • Australia’s ASX 200 gained 0.80%
  • South Korea’s Kospi surged 0.98%
  • New Zealand’s DJ added 1.80%
  • China’s Shanghai advanced 0.13%
  • Hong Kong’s Hang Seng jumped 0.15%

US stocks ended higher
Wall Street closed sharply higher on Friday as signs of peaking inflation and consumer resiliency sent investors into the long holiday weekend with growing optimism that the Federal Reserve will be able to tighten monetary policy without tipping the economy into recession.

  • Dow Jones gained 1.76% to 33,212.96
  • S&P 500 surged 2.47% to 4,158.24
  • Nasdaq zoomed 3.33% to 12,131.13

Dollar drifts toward monthly loss
The dollar nursed last week’s losses on Monday and was headed for its first monthly drop in five months as investors have scaled back bets that rising U.S. rates will spur further gains and as fears of a global recession have receded a little.

  • Dollar index dropped to 101.66
  • Euro was rose to $1.0728
  • Pound held steady to $1.2628
  • Yen moved to 127.28 per dollar
  • Yuan exchanged hands at 6.7210 against the greenback

Oil climbs ahead of EU meet
Oil prices rose to two-month highs on Monday as traders waited to see if the European Union would reach an agreement on banning Russian oil ahead of a meeting on a sixth package of sanctions against Moscow for its invasion of Ukraine.

Brent crude futures gained 46 cents, or 0.4 per cent, to $119.89 a barrel at 0111 GMT, while U. West Texas Intermediate (WTI) crude futures jumped 60 cents, or 0.5 per cent, to $115.67 a barrel, extending solid gains from last week.

FIIs sell shares worth Rs 1,598 cr
Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 1597.84 crore, data available with NSE suggested. DIIs turned net buyers to the tune of Rs 2,906.46 crore, data suggests.

Q4 earnings today
Life Insurance Corporation of India, Sun Pharmaceuticals Industries, Indian Railway Catering &

, & Power, Delhivery, , , Trident, , and are among the companies which will announce their March quarter earnings today.

Ethos’ listing today
The luxury and premium watch retailer will make its debut on Dalal Street on Monday. The company’s Rs 472.29 crore IPO was open for subscription between May 18-20 as the company sold its shares in the range of Rs 836-878 apiece. Its issue was overall subscribed 1.04 times only.

Stocks in F&O ban today
No stocks are under the F&O ban for Monday, May 30. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 per cent of the market-wide position limit.

MONEY MARKETS

Rupee: The rupee inched 3 paise higher to close at 77.58 against US dollar on Friday, supported by positive domestic equities and weakness of the American currency overseas.

10-year bonds: India 10-year bond advanced 0.77 per cent to 7.35 after trading in 7.31 – 7.37 range on Friday.

Call rates: The overnight call money rate weighted average stood at 4.08 per cent on Friday, according to RBI data. It moved in a range of 2.30-4.40 per cent.

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