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

    Synopsis

    Nifty futures on the Singapore Exchange traded 43.5 points, or 0.23 per cent, lower at 18,547.50, signaling that Dalal Street was headed for a negative start on Monday.

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    Sula Vineyards and Abans Holdings will launch their IPOs on Monday. While the former’s issue will conclude on Wednesday, the latter’s IPO will close on Thursday.
    Key events like India and the US inflation data, US, UK, and ECB’s policy actions are likely to keep investors on tenterhooks. In the run-up to these events, movement in benchmark indices could be limited.

    Positioning in the options of Nifty 50 indicates caution among investors, as both call and put options of 18600 strike price hold the highest open interest.

    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 43.5 points, or 0.23 per cent, lower at 18,547.50, signaling that Dalal Street was headed for a negative start on Monday.

    • Tech View: Charts show that the Nifty50 is placed slightly above the support of ’20-day EMA’, which coincides with the previous swing high of 18450. Any intermediate decline should only be construed as a profit booking before resuming the upward trend, Chavan said. On the upside, 18650–18700 are the levels to watch out for.

    • India VIX: Despite the fall in the market on Friday, volatility is limited, indicating the bias remained in favour of bulls. The volatility gauge ended 0.6% higher at 13.48 points.

    US stocks slip
    US stocks tumbled Friday as stronger-than-expected wholesale prices triggered renewed jitters that the Federal Reserve would press on with an aggressive stance to counter inflation.

    Asian shares dip
    Asian shares dipped on Monday while the dollar drifted higher at the start of a hectic week, as markets awaited a flurry of rate decisions from the U.S. Federal Reserve, the European Central Bank and others. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.1% on Monday, after rising 1.3% last week. Japan's Nikkei dipped 0.5%, while South Korea dropped 0.7%. S&P 500 futures slipped 0.2%, while Nasdaq futures fell 0.3%, as caution mostly reigned.

    Oil prices climb
    Oil prices rose more than 1% in early Asian trade on Monday as a key Canada-United States crude pipeline stayed shut while Russian President Vladimir Putin threatened to cut production in retaliation against a Western price cap on Russian oil exports.

    Dollar rises
    The dollar firmed on Monday after data showed producer prices in the United States rose more than expected last month, pointing to persistent inflationary pressures and stoking fears the Federal Reserve would need to keep rates higher for longer.

    FII/DII action
    Foreign portfolio investors (FPIs) on Friday net sold shares worth Rs 158 crore, provisional data showed. DIIs net bought shares to the tune of Rs 502 crore. In the last week, FPIs net sold Indian equities worth over Rs 3,600 crore.


    Stocks in F&O ban today
    Bharat Heavy Electricals, Punjab National Bank, Delta Corp, and Gujarat National Fertilizers. 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 sharply higher against the dollar on Friday, but off intraday highs. The rupee settled at 82.27 a dollar, compared with 82.4200 a dollar on Thursday. It has tested a high of 82.0800 a dollar during the day.


    IPO Corner
    * Uniparts India, whose initial public offering received an overwhelming response, will list on the bourses on Monday. Grey market trends indicate that the stock may not see superlative listing gains.


    * Sula Vineyards and Abans Holdings will launch their IPOs on Monday. While the former’s issue will conclude on Wednesday, the latter’s IPO will close on Thursday.


    (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)




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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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