SGX Nifty up 45 points; here's what changed for market while you were sleeping

Even though domestic indices snapped a 8-day winning streak on Friday, the underlying bias remains positive for the market. Any weakness in the global markets could bring intermittent bouts of selling, but the dips can be bought as Nifty 50 is likely to test 19000 level in the near term. Options data indicates the same as the 19000 call option of Nifty 50 holds the highest open interest.

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 44.5 points, or 0.24 per cent, higher at 18,869, signaling that Dalal Street was headed for a positive start on Monday.


Tech View: The Nifty 50 is trading near a rising trendline on the hourly chart, so the short term outlook continues to be positive for a target of 19000. 18600 is a key support for the index.

India VIX: Despite the weakness in the market, the volatility gauge was steady in trade on Friday, indicating there was no panic among investors. The index ended 0.7% up at 13.45 points.

S&P 500 ends slightly lower after jobs report
The S&P 500 closed slightly lower on Friday, although major indexes rallied off their worst levels of the day, as the November payrolls report fueled expectations the Federal Reserve would maintain its path of interest rate hikes to combat inflation.

Asian shares edge higher
Asian shares edged higher on Monday as investors hoped steps to unwind pandemic restrictions in China would eventually brighten the outlook for global growth and commodity demand, even if full freedom could be months away.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.2%, after rallying 3.7% last week to a three-month top.


Oil rises
Oil prices inched up in early trade after OPEC+ nations reaffirmed their oil output targets ahead of a European Union ban and price caps on Russian crude, which kick off on Monday.


FII/DII action
Foreign portfolio investors (FPIs) on Friday net bought shares worth Rs 215 crore, provisional data showed. DIIs net bought shares to the tune of Rs 712 crore.

Stocks in F&O ban today
Delta Corp, Indiabulls Housing Finance, and Punjab National Bank. 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.

Rupee: The Indian unit ended lower against the dollar on Friday amid selling in equities. Rupee settled at 81.3175 a dollar, compared with 81.2150 on Thursday.

Macro news
Nonfarm payrolls in the US rose more than expected by 263,000 in November, the Labor department data showed on Friday. Further, the number for October was revised higher to 284,000 from 261,000.


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