SGX Nifty down 45 points; here's what changed for market while you were sleeping

Domestic equity markets are set to kick off the week on a muted note amid mixed cues from global peers. US stocks settled mixed over the weekend trade, whereas Asian peers were range-bound. Traders will keenly watch the tensions between China and Taiwan. 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 46.5 points, or 0.27 per cent, lower at 17,377, signaling that Dalal Street was headed for a negative start on Monday.

• Tech View: Nifty50 on Friday ended on a flattish note for the second straight session. The index formed an indecisive candle on the daily chart. On the weekly scale, the index formed a small bullish candle. Analysts said the index might be losing momentum after recent strong gains. They see 17,500 as an immediate resistance level.
• India VIX: The fear gauge dropped close to 2 per cent to 18.92 level on Friday over its close at 19.26 on Thursday.

Asian stocks trade mixed
Asian stocks traded mixed, within a narrow range, Monday after another forecast-beating US jobs report boosted expectations that the Federal Reserve will press on with its sharp pace of interest rate hikes to fight inflation. MSCI's index of Asia-Pacific shares outside Japan was down by 0.61 per cent.

• Japan's Nikkei jumped 0.11%
• Australia's ASX 200 declined 0.10%
• New Zealand's DJ dropped 0.54%
• South Korea's Kospi slumped 0.35%
• China's Shanghai retreated 0.09%
• Hong Kong's Hang Seng fell 0.98%

US stocks settled mixed
Wall Street ended mostly lower on Friday, weighed down by Tesla and other technology-related stocks after a solid jobs report torpedoed recent optimism that the Federal Reserve might let up its aggressive campaign to reign in decades-high inflation.

• Dow Jones gained 0.23% to 32,803.47
• S&P 500 dropped 0.16% to 4,145.19
• Nasdaq retreated 0.50% to 12,657.55

Dollar extends gains
The dollar extended it best rally against the yen since mid-June on Monday, buoyed by higher Treasury yields after blockbuster US jobs data lifted expectations for more aggressive Federal Reserve policy tightening.

• Dollar index pinned at 106.77
• Euro dropped down to $1.01595
• Pound slipped lower to $1.2050
• Yen was struggled at 135.42 per dollar
• Yuan exchanged hands at 6.7618 against the greenback

Oil prices extend losses
Oil prices dropped on Monday hovering near multi-month lows, as recession fears hurt demand outlook and data pointed to a slow recovery in China's crude imports last month.

Brent crude futures dropped 74 cents, or 0.8 per cent, to $94.18 a barrel by 0039 GMT. Front-month prices hit the lowest levels since February last week, tumbling 14 per cent and posting their largest weekly drop since April 2020. US West Texas Intermediate crude was at $88.34 a barrel, down 67 cents, or 0.8 per cent.

FIIs buy shares worth Rs 1,606 cr
Net-net, foreign portfolio investors (FPIs) turned buyers of domestic stocks to the tune of Rs 1605.81 crore, data available with NSE suggested. However, DIIs turned net sellers to the tune of Rs 495.94 crore, data suggests. FPIs infused a net amount of Rs 14,175 crore in Indian equities in the first week of August.

Q1 results today
Bharti Airtel, Adani Ports & SEZ, Power Grid Corporation of India, Samvardhana Motherson International, Delhivery, Indian Hotels Company, UNO Minda, Vedant Fashions, Torrent Power, Whirlpool of India and National Aluminum are among the companies that will announce their earnings for the quarter ended June 2022.

Stocks in F&O ban today
Three stocks- Escorts Kubota, Delta Corp and Balrampur Chini Mills - are under the F&O ban for Monday, August 8. 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: Reversing a two-session losing streak, the rupee appreciated by 16 paise to close at 79.24 against the US dollar on Friday after the Reserve Bank hiked interest rates by 50 basis points.

10-year bonds: India 10-year bond spiked sharply by 2 per cent to 7.30 after trading in 7.11 - 7.32 range on Friday.

Call rates: The overnight call money rate weighted average stood at 4.59 per cent on Friday, according to RBI data. It moved in a range of 3.25-4.80 per cent.