Domestic stocks may take a breather on Monday after Friday's rally. Asian markets looked weak, with investors globally awaiting readings on US inflation data due later this week. Back home, earnings of a host of companies, including cement makers India Cements and Ramco Cements, are due today, which may keep investors busy. Analysts said the recent drop in Covid cases may help domestic stocks avoid any major fall. Technical charts are sending out bullish signals. 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 65 points, or 0.43 per cent, lower at 15,161 signaling that Dalal Street was headed for a negative start on Monday.
- Tech View: Nifty50 broke above its crucial resistance at 15,150 level on Friday and formed a solid bullish candle on the daily chart to set sights on the 15,300 level.
- India VIX: The fear gauge eased 2.91 per cent to 19.08 level on Friday. India VIX needs to hold below 20 zones to extend the bullish market momentum towards new life time territory, analysts said.
Asian markets off to cautious start Asian shares got off to a cautious start on Monday as investors anxiously awaited a key read on US inflation this week for guidance on monetary policy. MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.19 per cent.
- Japan's Nikkei jumps 0.47 per cent
- Hang Seng edges 0.22 per cent higher
- Seoul's Kospi inches up 0.40 per cent up
- Australia's ASX 200 adds 0.12 per cent
- China's Shanghai Composite rises 0.07 per cent
US stocks ended mostly lower on Friday US stocks ended a wobbly Friday with mixed results on Wall Street. The S&P500 index gave up an early gain and ended 0.1 per cent lower Friday, giving the benchmark index its second losing week in a row.
- Dow Jones rose 0.36 per cent to 34,207.84.
- S&P500 index shed 0.08 per cent to 4,155.86
- Nasdaq Composite dropped 0.48 per cent to 13,470.99
Dollar near 3-month low The dollar stood near its lowest level in three months against a resurgent e...