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

Equity markets took a breather from the relentless selloff throughout the week and ended in the green on Friday. The recovery was led by banking and financial pack.

"Markets rose on Friday, assuming that we are in the last phase of the rate hike cycle as indicated by the Fed statement," said Vinod Nair, Head of Research at Geojit Financial Services.

Option data suggests a broader trading range in between 17400 to 18300 zones while an immediate trading range in between 17600 to 18000 zones.

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 17,817, signaling that Dalal Street was headed for a negative start on Monday.

• Tech View: Technically, for Nifty traders, the immediate hurdle would be the 20-day SMA (Simple Moving Average) or 17950. As long as the index is trading above 17700, the pullback formation is likely to continue above which it could move up to 18000. On further upside the index could move up to 18150. On the flip side, below 17700 the weak sentiment is likely to accelerate and below the same the index could retest the level of 17500-17400.
• India VIX: India VIX, which is a measure of the fear in the markets, was down 8.48% to settle at 14.39 levels

US stocks down
Major US stock indexes ended lower on Friday after surprisingly strong jobs data sparked concerns about aggressive Federal Reserve action, while investors digested a mixed bag of megacap company earnings reports.

Asian stocks slip
Asian shares eased on Monday after a run of upbeat economic data from the United States and globally lessened the risk of recession, but also suggested interest rates would have to rise further and stay up for longer.

• S&P 500 futures fell 0.3% as of 9:13 a.m. Tokyo time. The S&P 500 fell 1%
• Nasdaq 100 futures fell 0.4%. The Nasdaq 100 fell 1.8%
• Japan’s Topix index rose 0.7%
• South Korea’s Kospi index fell 1.2%
• Australia’s S&P/ASX 200 index was little changed
• Hong Kong’s Hang Seng futures fell 0.4%

Oil prices up
Oil prices inched up in early trade on Monday after falling around 8% last week to more than three-week lows as jitters over major economies outweighed signs of a demand recovery in China, the world's top oil importer.

Brent crude futures crawled up 16 cents, or 0.2%, to $80.10 a barrel at 0022 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 15 cents, also 0.2% higher, to $73.54 a barrel.

Dollar on the front foot
The dollar extended its rally on Monday after a strong U.S. jobs report suggested the Federal Reserve could stay hawkish for longer, while the yen was hit by news the Bank of Japan's Deputy Governor Masayoshi Amamiya was being sounded out to be the next governor.

FII/DII action
After turning net buyers on the first day of February, Foreign portfolio investors (FPIs) have returned to old ways by selling shares worth Rs 932 crore on Friday, provisional data showed. DIIs on the other hand, net bought shares to the tune of Rs 1,264 crore.

Stocks in F&O ban today

Adani Ports
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
On Friday, the partially convertible rupee ended up 0.42% at 81.8275 per dollar as Indian equities surged late in the session. However, the currency was down 0.37% for the week, having traded on the weaker side of 82 for the most part.

Earnings
Tata Steel, Adani Transmission, Varun Beverages are among a host of companies that will announce their third quarter results on Monday