SGX Nifty down 55 points; here's what changed for market while you were sleeping

Equity markets ended the last week on a positive note despite mixed global trends. Domestic indices will likely react to inflation data and Karnataka elections outcome when the market opens.

"Market has now been consolidating for the last 4 days and is awaiting fresh triggers for the next leg of the rally as the structure of the market remains positive," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.

Option data suggests a broader trading range in between 17900 to 18500 zones while an immediate trading range in between 18150 to 18450 zones.

Here's breaking down the pre-market actions:

STATE OF THE MARKETS
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 54.5 points, or 0.30 per cent, lower at 18,269.50, signaling that Dalal Street was headed for negative start on Monday.

• Tech View: For the monthly expiry of May, the range remains between 18000 and 18500 and the index will not find it very easy to sustain over the 18500 mark. There has to be a decisive break over 18550 for this level to get taken out. For this week as well the, texture remains buy on dips and any fall below 18200 to the 18000 level should be considered as a buying opportunity.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 2.74% to settle at 12.85 levels.

US stocks slip
U.S. stocks ended slightly lower on Friday, led by weaker megacap shares following their recent rally, as data showed U.S. consumer sentiment dropped to a six-month low.

Asian shares mixed
Asian stocks started cautiously on Monday as investors braced for a China policy rate decision and economic data this week, while awaiting a host of U.S. Federal Reserve officials to speak to vindicate market pricing of rate cuts this year.


Stocks in F&O ban today
1) Manappuram Finance

2) Canara Bank

3) BHEL

4) PNB

5) Delta Corp

6) GNFC

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 remain net buyers throughout the week, investing Rs 1,014 crore on Friday. DIIs sold shares worth Rs 922 crore.

Rupee
Falling for the second straight session, the rupee depreciated by 9 paise to settle at 82.18 against the US dollar on Friday, as a strong greenback overseas weighed on investor sentiments.

Corporate results
Tube Investments, Astral, Coromandel International, Pfizer, PVR Inox and a slew of other companies will announce their quarterly results today.

Macro news
India's annual retail inflation eased to a 19-month low of 4.7% in April from 5.66% the previous month, mainly on lower food prices, government data showed on Friday.