SGX Nifty down 11 points; here's what changed for market while you were sleeping

2 weeks ago 42

Synopsis

Nifty futures on the Singapore Exchange traded 30.5 points, or 0.17 per cent, higher at 17.975.50, signaling that Dalal Street was headed for a positive start on Tuesday.

Shutterstock.com35 companies will release earnings for the quarter ended December. ICICI Prudential Life Insurance Co, Bank of India, Network18 Media & Investments, Mastek, Metro Brands among the major ones.

Global markets will provide cues to domestic equities in early trade, while action is likely to be stock-specific during the day due to corporate earnings. Positioning in the options of Nifty 50 indicates a narrow trading range of 17800-18000 points for the index.

Here's breaking down the pre-market actions:

STATE OF THE MARKETSSGX Nifty signals a muted startNifty futures on the Singapore Exchange traded 11 points, or 0.06 per cent, lower at 17.934, signaling that Dalal Street was headed for a muted start on Tuesday.

  • Tech View: The Nifty 50 has formed a bearish candle on the daily chart. It has to hold above 17850 for an upmove towards 18050 and 18123 zones, whereas supports are placed at 17850 and 17777 levels.
  • India VIX: After falling sharply in the previous session, the volatility gauge resumed its uptrend on Monday and rose nearly 4% to 15.02 points.

Asian shares fallMany Asia shares slipped on Tuesday after Beijing released weak fourth-quarter economic data, although investors' expectations for a strong China rebound remained high even as the global economy edges closer to recession. MSCI's gauge of Asia Pacific stocks outside Japan was down 0.34% at 021...

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