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

Domestic indices started the week on a positive note on Monday amid buying in IT stocks and anticipation of possible progress in US debt ceiling talks.

"Positive commentary from US Fed, consistent FII buying and healthy results from Index heavyweights supported the sentiments. Overall market outlook remains positive with stock-specific action. Over the next few days, Investors would take cues from global events like FOMC minutes, GDP numbers in the US, and CPI inflation in UK and Japan," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services

Option data suggests a broader trading range in between 18000 to 18500 zones while an immediate trading range in between 18150 to 18450 zones.

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 24 points, or 0.13 per cent, higher at 18,359.50, signaling that Dalal Street was headed for positive start on Tuesday.

• Tech View: Nifty support at the 21-day Exponential Moving Average (EMA), which halted its decline. However, the Relative Strength Index (RSI) is in a bearish crossover, indicating weak momentum. The immediate support level for the index is at 18,200. If it manages to sustain its position above 18,300, there is a possibility of moving towards the resistance level at 18,500.
• India VIX: India VIX, which is a measure of the fear in the markets, rose 2.17% to settle at 12.57 levels.

US stocks mixed
Wall Street finished mixed on Monday, with the Nasdaq helped by gains in Alphabet and Meta Platforms, while the S&P 500 ended near flat as investors refrained from big bets ahead of a fresh round of talks about raising the U.S. debt ceiling.

Asian shares cautious
The mildly positive but cautious tone flowed through into Asian stocks, with benchmarks in Japan, South Korea and Australia opening higher Tuesday

Oil prices rise
Oil prices climbed for a second day on Tuesday as investors expect a tighter market led by a seasonal rise in gasoline demand and supply cuts from OPEC+ producers, though concerns over the risk of a U.S. debt default capped gains.

Brent crude futures rose 20 cents, or 0.3%, to $76.19 a barrel by 0052 GMT while U.S. West Texas Intermediate (WTI) crude was at $72.26 a barrel, up 21 cents, or 0.3%.

Dollar hits 6-mth high versus yen
The dollar touched a six-month high against the yen on Tuesday as expectations grew that U.S. rates will remain higher for longer and as the debt ceiling impasse kept risk sentiment fragile.


Stocks in F&O ban today

1) Indiabulls Housing Finance

2) Manappuram Finance

3) L&T Finance Holdings

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.

FII/DII action
Foreign portfolio investors resume buying in Indian markets after a breather on Friday. FIIs net bought Rs 922 crore on Monday. DIIs too were net buyers at Rs 604 crore.

Rupee
The rupee fell 18 paise to close at 82.85 (provisional) against the US dollar on Monday, weighed down by a strong greenback in the overseas market.

Corporate results
Ashok Leyland, NMDC, Biocon, JSW Energy, Amararaja Batteries and a slew of other companies will announce their quarterly results today.