Domestic equity markets are set to kick off the new week on a negative note, thanks to weak global cues. US stocks plunged over the weekend on a route in tech firms. Asain peers also opened in the red on Monday. All eyes are set on the US Fed's monetary policy meeting this week, whereas fears of a recession continue to loom over traders. Back home, markets will react to the Q1 earnings of
and multiple private lenders. Here's breaking down the pre-market actions:
STATE OF THE MARKETS SGX Nifty signals a negative startNifty futures on the Singapore Exchange traded 79.5 points, or 0.48 per cent, lower at 16,645.5, signalling that Dalal Street was headed for a negative start on Monday.
- Tech View: Nifty50 on Friday climbed for the sixth session in a row and, in the process, took out the 16,700 level on a closing basis. The index formed a bullish candle on the daily chart and a solid bullish candle on the weekly scale. Analysts largely see resistance for the index at 16,800-850 levels. They see a strong support for the index at 16,500 level.
- India VIX: The fear gauge dropped more than a per cent to 16.65 level on Friday over its close at 16.86 on Thursday.
Asian shares down at openMajor Asian stocks started Monday on a negative note following losses on Wall Street, with traders looking ahead to a Federal Reserve policy meeting later in the week, amid the economic slowdown fears. MSCI's index of Asia-Pacific shares outside Japan wa...