SGX Nifty up 50 points; here's what changed for market while you were sleeping

The domestic equity market was headed for a strong start on Monday, thanks to solid global sentiments. US stocks rallied higher in weekend trade, whereas Asian peers followed the footsteps to move higher. Crude oil eased, whereas the US dollar was on a stronger note. Back home, traders will react to India Inc numbers and will await LIC's listing on Tuesday. Here's breaking down the pre-market actions:

STATE OF THE MARKETS

SGX Nifty signals positive start
Nifty futures on the Singapore Exchange traded 47.5 points, or 0.30 per cent, higher at 15,820, signaling that Dalal Street was headed for a positive start on Monday.

• Tech View: Nifty50 on Friday closed lower for straight sixth session. The index formed a bearish candle on the daily chart even as it managed to negate its lower high-low formation. On the weekly scale, the index formed a long bearish candle with a long upper wick, suggesting selling pressure at higher levels.
• India VIX: The fear gauge dropped more than 3 per cent to 23.48 level on Thursday over its close at 22.80 on Wednesday.

Asian shares trade with gains
Asian stocks opened higher on Monday after Wall Street rebounded, backed by gains among high-tech stocks, following a Wall Street bounce sparked by a rally among tech-rich stocks. MSCI's index of Asia-Pacific shares outside Japan was up 0.23 per cent.

• Japan's Nikkei gained 0.46%
• Australia's ASX 200 jumped 0.36%
• South Korea's Kospi dropped 0.18%
• New Zealand's DJ rallied 1.04%
• China's Shanghai shed 0.03%
• Hong Kong's Hang Seng added 0.10%

US stocks settle higher
Wall Street surged on Friday to end higher, closing the book on a week of wild market gyrations as relief at signs of peaking inflation vied with fears that policy tightening by the Federal Reserve could tilt the economy into recession.

• Dow Jones gained 1.47% to 32,196.66
• S&P 500 jumped 2.39% to 4,023.89
• Nasdaq surged 3.82% to 11,805.00

US dollar gains strength
The dollar started the week just off a 20-year high against peers on Monday, as investors sought safety due to fears about global growth while cryptocurrency markets appeared to find some stability after last week's turmoil.

• Dollar index was pinned at 104.54
• Euro was dropped to $1.0398
• Pound ticked lower to $1.2256
• Yen softened to 129.43 per dollar
• Yuan exchanged hands at 6.7928 against the greenback

Oil prices drop
Oil prices slipped on Monday, giving up earlier gains as investors took profits after a surge in the previous session, but global supply fears loomed with the European Union preparing to phase in a ban on imports from Russia.

Brent crude futures were down 64 cents, or 0.6 per cent, at $110.91 a barrel at 0137 GMT, while US West Texas Intermediate (WTI) crude futures dropped 60 cents, or 0.5 per cent, to $109.89 a barrel.

FIIs sell shares worth Rs 3,780 cr
Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 3,780.08 crore, data available with NSE suggested. DIIs turned net buyers to the tune of Rs 3,169.62 crore, data suggests. The foreign investors pulled out a little over Rs 25,200 crore from the Indian equity market in the first fortnight of this month.

Q4 earnings today
Bharat Forge, GlaxoSmithKline Pharmaceuticals, Century Plyboards, Raymond, VIP Industries, MCX, Ami Organics, RateGain Travel Technologies, PDS, Dodla Dairy, Greenply Industries, GRM Overseas, Fino Payments Bank and Nava Bharat Ventures are among the companies which will announce their earnings today.

Stocks in F&O ban today
Three stocks - GNFC, Indiabulls Housing Finance and Punjab National Bank - are under F&O ban for Monday, May 16. 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.

MONEY MARKETS
Rupee: The rupee pared its initial gains and settled 5 paise lower at its fresh lifetime low of 77.55 against the US dollar on Friday, as inflation concerns and strength of the American currency weighed on the local unit.

10-year bonds: India 10-year bond ralied about 1.02 per cent to 7.32 after trading in 7.29 - 7.34 range on Friday.

Call rates: The overnight call money rate weighted average stood at 4.06 per cent on Friday, according to RBI data. It moved in a range of 2.30-4.30 per cent.