STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 60 points, or 0.25 per cent, at 24,480, signaling that Dalal Street was headed for a positive start on Monday.
- Tech View: The overall structure remains positive, favoring a buy-on-dips approach, with the support base now shifting higher to around 24,000. Momentum indicators and oscillators continue to reflect strength, as the RSI sustains above the 55 level.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 5% to settle at 17.20 levels.
US stocks end higher
The benchmark S&P 500 and the tech-heavy Nasdaq extended their rally on Friday, each notching a third consecutive record close, while the blue-chip Dow Jones ended at its highest level since late February. The gains were driven by improved investor sentiment after Iran announced the reopening of the Strait of Hormuz, along with optimism that it could reach a deal with the United States to bring an end to the ongoing conflict.Asian shares mixed
Oil prices jumped, the U.S. dollar lifted from lows and stock markets wobbled on Monday as rising tension in the Middle East kept shipping in and out of the Gulf to a bare minimum, though traders were holding out hope for a resolution.
- S&P 500 futures fell 0.6% as of 10:10 a.m. Tokyo time
- Hang Seng futures rose 1.2%
- Nikkei 225 futures (OSE) rose 0.3%
- Japan’s Topix rose 0.5%
- Australia’s S&P/ASX 200 was little changed
- Euro Stoxx 50 futures fell 1.2%
Oil rebounds
Oil prices rebounded more than 6% on Monday after tumbling more than 9% on Friday on news the Strait of Hormuz is closed again after both the U.S. and Iran said the other party had violated their ceasefire deal by attacking ships over the weekend.
Dollar gains
The dollar headed for its highest level in a week at the start of Asian trading on Monday as renewed tensions in the Middle East sent investors scurrying for safe havens.
Gold falls
Gold prices fell more than 1% on Monday as the dollar firmed, while uncertainty over the U.S.-Iran peace talks pushed oil prices higher and revived inflation fears.
Stocks in F&O ban today
SAIL
Sammaan Capital
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 net bought shares worth Rs 683 crore on Thursday. DIIs, meanwhile, were net sellers at Rs 4,721 crore.
Rupee
The Indian rupee rose on Friday following a Reuters report of a central bank step to curb state-run oil companies’ dollar demand, adding to measures that have narrowed the currency’s underperformance over the last fortnight.
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