What changed your markets while you were sleeping
The Nifty50 logged solid gains on Monday and closed above the 11,080 mark.
NEW DELHI: Mixed global cues are hinting at a flat start for the domestic market on Tuesday, but volatility may pick up as the day progresses, as traders roll over their positions ahead of Thursday's F&O expiry.
Let's check out what all might matter to Dalal Street during the day:
Singapore trading sets stage for flat start
Nifty futures on the Singapore Stock Exchange were trading 8.50 points, or 0.08 per cent, lower at 11,118, indicating a flat to negative start for the Nifty50.
Tech view: Nifty50 forms small bullish candle
The Nifty50 logged solid gains on Monday and closed above the 11,080 mark, which had in the past proved to be tough resistance for the index. A consistent rise above this level, especially if the index rises above the 11,130 mark, would pave the way for further gains in the index. A failure to hold above this level may drag the index back to 10,930 level.
Market-wide F&O rollovers at 27%
The market-wide rollovers till Monday stood at 27 per cent, which is higher than the average rollovers of 24 per cent in the last three F&O series. Nifty futures rollover at 21 per cent too were higher than average rollovers of 17 per cent in the last three series. "The much anticipated and talked about event relating to physical settlement in select F&O names kicks-off from this expiry. As a result most of the names have already seen pickup in rollover activity," Edelweiss Securities said in a note.
Asian shares unchanged
In Asia, Japan's Nikkei index bounced 0.4 per cent in early trade as a pullback in the yen eased concerns about earnings pressure on exporters. Moves elsewhere were marginal with MSCI’s broadest index of Asia-Pacific shares outside Japan barely changed, Reuters reported.
US stocks end mixed
On Monday, the Dow Jones Industrial Average edged 0.06 per cent lower, the S&P500 index added 0.18 per cent while the Nasdaq Composite index rose 0.28 per cent.
Rupee ends 2 paise lower
The rupee retreated from early high levels to close down with a modest loss of 2 paise at 68.86 against the US currency on stray dollar demand from importers. The home currency initially reacted positively to the GST Council’s decision to cut rates on several items and also tracking broad weakness in the dollar.
Oil prices extend losses
Oil prices extended losses on Tuesday as attention shifted to the risk of oversupply, with market participants shrugging off escalating tensions between the United States and Iran. Brent crude oil futures were down 10 cents, or 0.14 per cent, at $72.96 a barrel, after settling down 1 cent on Monday, Reuters reported.
Asian Paints, ICICI Pru Q1 results today
Asian Paints, ICICI Prudential Life, GlaxoSmithKline Pharmaceuticals, Symphony and Rane Brake Lining are among companies that will report their quarterly results on Tuesday. Radico Khaitan, Info Edge, Network 18 Media, TeamLease Services and Music Broadcast will be other companies scheduled to report their earnings during the day.
FIIs buy Rs 259 cr worth equities
Foreign portfolio investors (FPIs) bought Rs 259 crore worth of domestic stocks on Monday, provisional data available with BSE suggested. DIIs were net buyers to the tune of Rs 125 crore, data suggested.