STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a gap-down start
GIFT Nifty on the NSE IX traded lower by 728 points, or 2.96 per cent, at 23,846, signaling that Dalal Street was headed for a gap-down start on Monday.
- Tech View: In the short term, the index may continue to decline, with the potential to move towards 24,000 or lower. On the higher side, resistance is placed at 25,000; until this level is crossed decisively, the trend is likely to favor a sell-on-rise strategy.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 11.3% to settle at 19.88 levels.
Asian shares dip
With no sign of the war abating and Iran naming a new supreme leader, Asian shares slumped more than 3% and futures contracts for the Nasdaq 100 Index fell 2%. Cryptocurrencies also dropped. The dollar, which has emerged as the haven of choice during this conflict, rose against almost all its major peers.
- S&P 500 futures fell 1.8% as of 10 a.m. Tokyo time
- Hang Seng futures fell 1%
- Nikkei 225 futures (OSE) fell 6.5%
- Japan’s Topix fell 5.4%
- Australia’s S&P/ASX 200 fell 4%
- Euro Stoxx 50 futures fell 2.5%
US stocks end lower
Wall Street’s three main indexes ended lower on Friday after a sudden setback in the U.S. labour market and a sharp 12% jump in oil prices triggered by escalating tensions in the Middle East.
Live Events
Gold falls
Gold fell more than 2% on Monday, as a stronger dollar weighed on greenback-priced bullion, while higher energy costs fuelled inflation concerns and further dimmed the prospects for near-term reductions in interest rates.
Dollar surges
The dollar took another leg higher on Monday, jumping to a three-month peak on the euro as oil surged past $100 a barrel, stocks slid and investors headed for safety as protracted war in the Middle East threatened to disrupt global energy supplies.
Oil jumps
Oil prices jumped nearly 20% in early trading on Monday, climbing to their highest level since July 2022, as the escalating U.S.-Israeli conflict with Iran heightened fears of tighter global supply and potential disruptions to oil shipments through the Strait of Hormuz.
Stocks in F&O ban today
Samman Capital
SAIL
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 sold shares worth Rs 6,030 crore on Friday. DIIs, meanwhile, were net buyers at Rs 6,971 crore.
Rupee
The rupee depreciated 18 paise against the US dollar on Friday to close at 91.82 against the American currency, as surging crude oil prices and a shift toward risk-aversion weighed on the currency.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)