SGX Nifty down 40 points; here's what changed for market while you were sleeping

Renewed buying by foreign institutional investors has resulted in a strong momentum in the domestic market, helping benchmark indices hit more than 3-month highs on Thursday.

While earnings will keep the overall action in the market stock-specific, the underlying tone remains bullish. The lower volatility in the market is also a sign of bulls having an edge over the bears.

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 41.5 points, or 0.23 per cent, lower at 18,243.50, signaling that Dalal Street was headed for negative start on Friday.

• Tech View: The market is in a sharp up-trended movement and resistances are being taken out on the upside one after another. Nifty can see a sharp upside if it breaks out the resistance of 18,200-18,300 levels. Immediate support is placed at 18,150-18,100 levels.
• India VIX: The volatility gauge fell nearly 1% to 11.7325 points amid the strength in the risk-on sentiment in the market.

US stocks down
Wall Street ended lower on Thursday after PacWest's move to explore strategic options deepened fears about the health of U.S. lenders and hit shares of regional banks as well as JPMorgan Chase, Wells Fargo & Co and other major financial players.

Asian shares dip
Asian equities were set for a weak start Friday after a rout in regional banks rattled Wall Street, with brewing anxiety about the next financial shoe to drop making traders increase their bets on Federal Reserve rate cuts.

Oil set for third straight week of losses
Oil prices held steady in early trading on Friday, but were set for a third straight week of losses after markets witnessed dramatic drops on fears of a weakening U.S. economy and slowing Chinese demand.

Yen set to snap 3-week losing streak
The yen was eyeing its first weekly gain in nearly a month on Friday, driven by safe haven demand as bank sector turmoil in the United States unfolds, while the dollar fell as traders priced in more aggressive rate cuts from the Federal Reserve.

Stocks in F&O ban today

1) Manappuram Finance

2) 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 were net buyers for the 6th straight day on Thursday, investing Rs 1,415 crore in Indian equities. In the last 5 days, FIIs have pumped in Rs 14,817 crore. DIIs turned net buyers, investing Rs 442 crore on May 4.

Rupee
The rupee ended higher against the dollar on Thursday, but off the day’s highs. The Indian unit settled at 81.8000 a dollar, little changed from 81.8175 Wednesday. Intraday, it hit a high of 81.6500.


Corporate Results
Britannia Industries, Adani Power, Marico, One97 Communications, Bharat Forge, Gujarat Fluorochemicals, Federal Bank, Piramal Enterprises and a slew of other companies will announce their quarterly results today.