SGX Nifty down 80 points; here's what changed for market while you were sleeping

Domestic equity markets are set to kick off the new week on a negative note, thanks to weak global cues. US stocks plunged over the weekend on a route in tech firms. Asain peers also opened in the red on Monday. All eyes are set on the US Fed's monetary policy meeting this week, whereas fears of a recession continue to loom over traders. Back home, markets will react to the Q1 earnings of Reliance and multiple private lenders. 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 79.5 points, or 0.48 per cent, lower at 16,645.5, signalling that Dalal Street was headed for a negative start on Monday.

• Tech View: Nifty50 on Friday climbed for the sixth session in a row and, in the process, took out the 16,700 level on a closing basis. The index formed a bullish candle on the daily chart and a solid bullish candle on the weekly scale. Analysts largely see resistance for the index at 16,800-850 levels. They see a strong support for the index at 16,500 level.
• India VIX: The fear gauge dropped more than a per cent to 16.65 level on Friday over its close at 16.86 on Thursday.

Asian shares down at open
Major Asian stocks started Monday on a negative note following losses on Wall Street, with traders looking ahead to a Federal Reserve policy meeting later in the week, amid the economic slowdown fears. MSCI's index of Asia-Pacific shares outside Japan was down by 0.40 per cent.

• Japan's Nikkei dropped 0.87%
• Australia's ASX 200 shed 0.13%
• New Zealand's DJ declined 0.41%
• South Korea's Kospi added 0.01%
• China's Shanghai retreated 0.31%
• Hong Kong's Hang Seng fell 0.59%

US stocks settle lower
US stocks ended lower on Friday as disappointing earnings from Snap spooked investors and shares in social media and ad tech firms dropped, offsetting gains from card issuer American Express following an upbeat forecast.

• Dow Jones shed 0.43% to 31,899.29
• S&P 500 declined 0.93% to 3,961.63
• Nasdaq plunged 1.87% to 11,834.11

Dollar holds firm ahead of Fed's meet
The dollar was on a firm footing on Monday, as traders brace for a sharp US interest rate hike this week and look for safety as data points to a weakening global economy.

• Dollar index pinned at 106.84
• Euro was trading at $1.0195
• Pound dropped to $1.1970
• Yen was struggled at 136.57 per dollar
• Yuan exchanged hands at 6.7515 against the greenback

Crude prices fall Oil fell on Monday, reversing earlier gains but continuing a recent losing streak, on concerns that an expected increase in interest rates in the US, the world's biggest oil user, may limit fuel demand growth. Brent crude futures for September settlement dropped 48 cents, or 0.5 per cent, to $102.72 a barrel at 0205 GMT. US West Texas Intermediate (WTI) crude futures for September delivery fell 65 cents, or 0.7 per cent, to $94.05 a barrel.

FIIs sell shares worth Rs 675 cr
Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 675.45 crore, data available with NSE suggested. However, DIIs turned buyers net to the tune of Rs 739.38 crore, data suggests. FPIs invested a net amount of Rs 1,099 crore in Indian equities during July 1-22.

Q1 results today
Axis Bank, Tata Steel, Tech Mahindra, Macrotech Developers, Canara Bank, GlaxoSmithKline Pharmaceuticals, Solar Industries, India, Supreme Industries, Central Bank of India, KPIT Technologies, Indian Energy Exchange and IIFL Wealth Management are among the companies that will announce their earnings for the quarter ended June 2022.

Stocks in F&O ban today
Three stocks - Indiabulls Housing Finance, RBL Bank and Delta Corp - are under the F&O ban for Monday, July 25. 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.

Forex reserve falls to $572.71 bn
The country's foreign exchange reserves declined by $7.541 billion to $572.712 billion in the week ended July 15 as the Reserve Bank continued to intervene in the market to curb the fall of the rupee. In the previous week ended July 8, the reserves shrunk by $8.062 billion to $580.252 billion, the Reserve Bank of India (RBI) data showed.

New launches lined up: FADA
Auto dealers' body FADA said it expects automakers to launch a higher number of models this festive season compared to the last two years when Covid-19 pandemic overshadowed the festive cheer.

Federation of Automobile Dealers' Association (FADA) president Vinkesh Gulati had termed 2021 festive season as the "worst" in a decade in terms of business of its retail partners.

MONEY MARKETS
Rupee: The rupee fell by 5 paise to close at 79.90 against the US dollar on Friday as stronger American currency and elevated crude oil prices weighed on investor sentiment.

10-year bonds: India 10-year bond dropped about 0.35 per cent to 7.41 after trading in 7.40 - 7.43 range on Friday.

Call rates: The overnight call money rate weighted average stood at 4.82 per cent on Thursday, according to RBI data. It moved in a range of 3.30-5.25 per cent.