Domestic stocks are likely to see a positive start to the week, thanks to firm global cues. Asian markets were trading mostly higher in early trade despite a rise in the dollar index. All eyes would be on a host of PSU Q2 earnings and the kick-start of Keystone Realtors’ initial public offer. Here’s what you should know before the Opening Bell:
Nifty outlook
Nifty on Friday took out its previous swing high and formed a bullish candle on the daily chart. On the weekly chart as well, the index formed a bullish candle but with a long lower wick, suggesting intra-week selling was bought into. One can expect further upside ahead, analysts said.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange quoted 16.50 points, or 0.09 per cent, higher at 18,452.50, hinting at a positive start for the domestic market on Monday.
Asian markets rise in early trade
Asian markets, barring Japan, were trading mostly higher in Monday’s trade. Hong Kong’s Hang Seng climbed 2.42 per cent; China’s Shanghai Composite advanced 0.6 per cent; Taiwan’s TWSE index rose 0.91 per cent while Korea’s Kospi edged 0.10 per cent higher. Japan’s Nikkei was down 0.70 per cent.
US stocks settle higher
US stocks indices settled higher on Friday amid continued optimism over cooler-than-expected US inflation print. Dow Jones rose 32.49 points, or 0.10 per cent, to settle at 33,747.86. The S&P500 index advanced 36.56 points, or 0.92 per cent, to 3,992.93. Nasdaq Composite Index jumped 209.18 points, or 1.88 per cent, to 11,323.33.
Q2 results today
ONGC, NMDC, IRCTC, Bharat Forge, Apollo Tyres, Grasim Industries, Balkrishna Industries, Biocon, GMR Airports Infrastructure, and Godrej Industries are among the companies that will announce their quarterly results today.
Corporate actions today
Monday will see at least six stocks namely Power Grid, Jamna Auto Industries, EPL, Nicco Parks, Amrutanjan Health Care, and SMC Global Securities going ex-dividend. Shares of Arfin India will split from a face value of Rs 10 each to Re 1. Compuage Infocom will go ex-rights today.
Keystone Realtors IPO to open today
Mumbai-based realty firm Keystone Realtors’ Rs 635 crore initial public offer will hit the market on Monday. The IPO consists of a fresh issue of equity shares, aggregating up to Rs 560 crore, and an offer for sale (OFS) worth Rs 75 crore by promoters. The price band for the issue has been fixed at Rs 514-541 a share.
Stocks in F&O ban
Shares of GNFC and Punjab National Bank are banned in the F&O segment today. Derivative contracts in security is banned when it crosses 95 per cent of the market-wide position limit (MWPL). No new positions can be created in the derivative contracts of said security. This prohibition is lifted when the open interest in the stock drops below 80 per cent of the MWPL across exchanges.
FPIs buy shares worth Rs 3,958 crore
Provisional data available with NSE suggests FPIs were net buyers of domestic stocks to the tune of Rs 3,958.23 crore on Friday. Domestic institutional investors (DIIs) were buyers of equities to the tune of Rs 615.54 crore.
Rupee jumps 62 paise against dollar
The rupee rose 62 paise to settle at 80.78 against the dollar on Friday, as moderating US CPI data coupled with a fall in the dollar index boosted investor sentiment. Forex traders said positive domestic equities and sustained foreign fund inflows also supported the local unit, PTI reported.
Also read: Nifty Bank Outlook: Book profits at high; Canara Bank, SBI and BOB may do well among PSBs
Also read: Can Nifty hit record high next week? Here’s what analysts say