SGX Nifty up 60 points; here's what changed for market while you were sleeping

Indian equity markets are set to open on a positive note, bucking the trend in Asian peers. US stocks ended with strong gains amid rally in bank stocks, and big tech. Back home, the IPO of Aether Industries will kick off for subscription. 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 58.5 points, or 0.36 per cent, higher at 16,234, signalling that Dalal Street was headed for a positive start on Tuesday.

• Tech View: Nifty50 on Monday formed a bearish candle on the daily chart with an upper wick, suggesting selling at higher levels. During the day, the index tested the 16,400 level. This is the level where the index had faced resistance in the last two weeks, said analysts who believe the index may be in for a range-bound action in coming sessions.

• India VIX: The fear gauge spiked more than a per cent to 23.40 level on Monday over its close at 23.10 on Friday.

Asian shares traded higher
Asian shares slipped on Tuesday as relief at a rally on Wall Street was quickly soured by a slide in US stock futures, while the euro held near one-month highs as odds narrowed on a July rate rise by the ECB. MSCI's index of Asia-Pacific shares outside Japan was down by 0.28 per cent.

• Japan's Nikkei dropped 0.36%
• Australia's ASX 200 gained 0.18%
• South Korea's Kospi plunged 0.73%
• New Zealand's DJ declined 0.61%
• China's Shanghai tumbled 0.23%
• Hong Kong's Hang Seng shed 0.38%

US stocks settled higher
US stocks ended higher on Monday as gains from banks and a rebound in market-leading tech shares supported a broad-based rally following Wall Street's longest streak of weekly declines since the dotcom bust more than 20 years ago.

• Dow Jones jumped 1.98% to 31,880.24
• S&P 500 advanced 1.86% to 3,973.75
• Nasdaq rallied 1.59% to 11,535.27

Oil prices eased
Oil prices eased in early trade on Tuesday as concerns over a possible recession and weaker consumption outweighed an expectation of tight global supply and a pick-up in fuel demand in China after Beijing's promises of stimulus.

Brent crude futures for July slid 35 cents, or 0.3 per cent, to $113.07 a barrel by 0122 GMT. US West Texas Intermediate (WTI) crude futures for July delivery dropped 36 cents, or 0.3 per cent, to $109.93 a barrel.

FIIs sell shares worth Rs 1,951 cr
Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 1,951.17 crore, data available with NSE suggested. DIIs turned net buyers to the tune of Rs 1,445.39 crore, data suggests.

Q4 earnings today
Adani Ports & SEZ, Grasim Industries, Info Edge, Minda Industries, Phoenix Mills, Ipca Laboratories, Bayer Cropscience, Bank of India, KIOCL, Shree Renuka Sugars, Metropolis Healthcare, Aster DM Healthcare and Latent View Analytics are among the companies which will announce their March quarter earnings today.

Stocks in F&O ban today
Three stocks - GNFC, Indiabulls Housing Finance and Delta Corp - are under the F&O ban for Tuesday, May 24. 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.

Aether Industries IPO opens today
The Rs 808.04 crore initial public offering (IPO) of Aether Industries will open for subscription on Tuesday, May 24. The speciality chemicals manufacturer will sell its shares in the range of Rs 610-642 apiece and the issue is open till Thursday, May 26. Investors can bid in multiples of 23 equity shares.

MONEY MARKETS
Rupee: The rupee recovered from record lows and settled 15 paise higher at 77.55 against the US currency on Monday following a weak dollar in overseas markets and the RBI governor hinting at another rate hike in June to arrest rising inflation.

10-year bonds: India 10-year bond advanced 0.37 per cent to 7.38 after trading in 7.34 - 7.42 range on Monday.

Call rates: The overnight call money rate weighted average stood at 4.04 per cent on Thursday, according to RBI data. It moved in a range of 2.30-4.30 per cent.