SGX Nifty down 25 points; here's what changed for market while you were sleeping

The key domestic indices may open with a negative bias tracking cues from Asian peers. Options of the Nifty 50 indicate a narrow trading range of 18000-18300 points for the index.

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 23 points, or 0.13 per cent, lower at 18,150, signaling that Dalal Street was headed for a negative start on Tuesday.

• Tech View: The Nifty 50 has formed a long bull candle on the daily charts and negated lower high formation of the last three sessions. For the index, 18000 would be the sacrosanct support zone, and sustenance above that could see further upmove to 18200-18270 levels. A fall below 18000 could see the index retesting the level of 17950-17900.

• India VIX: Indices snapping a 3-day losing streak improved the market sentiment and pulled down the volatility gauge in trade on Monday. The index ended 2.5% down at 14.6525 points.

US stocks mixed
The S&P 500 index erased early gains to close nearly flat on Monday as expectations that the Federal Reserve will become less aggressive with its interest rate hikes were offset by lingering worries about inflation.

• Dow down 0.3%,
• S&P 500 down 0.1%,
• Nasdaq up 0.6%

Asian stocks mixed
Asian shares fell on Tuesday following hawkish comments from two U.S. Federal Reserve officials overnight with investors turning cautious ahead of key inflation data, while China's reopening after COVID-19 restrictions pushed commodities higher. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.02% in early trade.

• The S&P/ASX 200 fell 0.2%
• Hang Seng futures fell 0.2%
• Japan’s Topix rose 0.9%
• S&P 500 futures were little changed; S&P fell 0.1% Monday
• The Nasdaq 100 rose 0.6% Monday

FII/DII action
Foreign portfolio investors (FPIs) on Monday net sold shares worth Rs 203 crore, provisional data showed. DIIs on the other hand, net bought shares to the tune of Rs 1,724 crore.

Rupee: The rupee rose to a 1-month high against the dollar on Monday following the weakness in the greenback after encouraging jobs report in the US. The Indian unit settled at 82.3600 a dollar, compared with 82.7200 a dollar in the previous session.

Earnings
14 companies will release earnings for the quarter ended December. BnK Capital Markets, Excel Realty N Infra, Prerna Infrabuild among the ones to release numbers.

Macro news
* German industrial production recovered slightly in November, official figures published on Monday showed, as fears of an energy crisis eased although prospects for Europe's top economy still looked gloomy.


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