Will Nifty reclaim 18400 or bears to grip D-St? Check US shares, Asian markets, FII activity, SGX Nifty, more

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SGX Nifty, Wall Street and Asian markets indicated that the domestic equity markets will see a positive open on Tuesday. Here are the key things to know before the share market opens in trade on Tuesday.

The SGX Nifty signaled that domestic benchmark indices NSE Nifty and BSE Sensex might open on a positive note, as Nifty futures traded 44 points lower at 18,447.50 on the Singaporean exchange. Nifty and Sensex closed Monday’s session higher. Nifty 50 closed at 18,398.85, just shy of the 18,400 level and 60 points down from its intraday high. Sensex closed 317 points higher at 62,346.

“Domestic benchmark indices are marching ahead driven by favourable developments such as declining inflation levels, steady foreign inflows, and in anticipation of robust earnings growth on a QoQ basis next quarter, due to drop in global commodity prices. The domestic CPI inflation came in better than expected at 4.7%, and the WPI inflation decreased by 0.92%, reaffirming RBI’s decision to hold rate hikes,” said Vinod Nair, Head of Research, Geojit Financial Services.

Key things to know before share market opens

Wall Street

Wall Street ended with gains on Monday. The Dow Jones Industrial Average closed 0.14% higher, as the tech-heavy Nasdaq added 0.66%. The S&P 500 ended 0.30% up. 

Asian Markets

Asian share markets gained in trade on Tuesday as Hong Kong’s Hang Seng index advanced 0.36%, while China’s Shanghai Composite slipped by 0.38% and the Shenzhen Component declined 0.46%. Japan’s Nikkei 225 jumped 0.73% as South Korea’s Kospi was 0.26% higher. The Taiwan Weighted Index traded 1.1% up.

Crude Oil

Oil prices rose for a second day early on Tuesday, as U.S. plans to purchase oil for the Strategic Petroleum Reserve (SPR) lent support while raging wildfires in Canada fuelled supply worries. Brent crude futures rose 31 cents, or 0.4%, to $75.54 a barrel by 0043 GMT, while U.S. West Texas Intermediate crude was at $71.38 a barrel, up 27 cents, or 0.4%. Both benchmarks rose more than 1% on Monday, reversing a 3-session losing streak.

FII/DII Data

Foreign institutional investors (FII) net bought shares worth net Rs 1,685.29 crore, while domestic institutional investors (DII) net sold shares worth net Rs 191.20 crore on May 15, according to the provisional data available on the NSE.

F&O Ban

The...

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