SGX Nifty up 20 points; here's what changed for market while you were sleeping

1 month ago 55

Domestic equities are likely to take cues from the global developments, particularly on the COVID situation in China. In just 20 days after the zero COVID policy was ended by China, the country has seen a whopping 250 million people being affected by the pandemic.

Participation of foreign investors is likely to be lower amid year-end holidays. But any further negative news around Covid could trigger further outflows from FIIs. Options of Nifty 50 indicate a broad trading range of 17000-18000 points for the index this week.

Here's breaking down the pre-market actions:

STATE OF THE MARKETS

SGX Nifty signals a positive start

Nifty futures on the Singapore Exchange traded 22 points, or 0.12 per cent, higher at 17,886, signaling that Dalal Street was headed for a positive start on Monday.

  • Tech View: Nifty 50 has slipped below the 200-DEMA and formed a bearish candle on the daily scale. If it remains below 17950 level, a further fall towards 17500-17650 levels could be seen. In case of a recovery, the index is likely to face hurdles at 17950 and 18081 levels.
  • India VIX: The ‘fear gauge’ ended 6.4% down at 16.16 points on Friday, as the overall sentiment has turned nervous amid rising COVID cases in China.

US stocks rise The S&P 500 closed higher on Friday, in a light trading day ahead of a long weekend, as investors assessed inflation data against rate hike and recession fears while energy shares jumped on higher oil prices.

  • Dow rises 0.53%
  • S&P up 0.59%;
  • Nasdaq adds 0.21%
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