The domestic stock market was expected to start the new week on a negative note, following weakness in Asian peers. US stocks settled mixed in overnight trade. Asian stocks felt the heat from US rate hike signals, while the dollar languished slightly. Back home, monetary policy and RBI commentary will be closely watched. Here are the pre-marketing actions:

STATE OF THE MARKETS


SGX Nifty reports negative start
Nifty futures on the Singapore Stock Exchange traded 34 points, or 0.19%, at 17,456, signaling Dalal Street was heading for a negative start on Monday.

  • Technical view: On Friday, Nifty50 faced resistance at the 20-day exponential moving average, but settled above the 17,500 mark. The index respected its 50-day moving average at the close and formed a small bullish candle with an upper wick on the weekly scale, suggesting selling at highs.
  • India VIX: The Fear Gauge was down more than one percent to the 18.90 level on Friday from its close at 19.16 on Thursday.

Asian stocks generally trade lower
Asian stock markets mostly eased on Monday after incredibly strong U.S. jobs data eased concerns about the global economy, but also added risk of aggressive tightening from the US. the Federal Reserve. The MSCI Asia-Pacific ex-Japan equity index fell 0.24%.

  • The Japanese Nikkei fell 0.81%
  • South Korean Kospi loses 0.84%
  • Australia’s ASX 200 fell 0.13%
  • Shanghai in China jumped 1.83%
  • Hong Kong’s Hang Seng fell 0.75%

US stocks sold mixed results
Another bumpy ride ended on Friday, with the Nasdaq recouping much of the ground it lost in the previous session, as positive earnings from Amazon capped a week of mixed big tech numbers.

  • The Dow Jones lost 0.06% to 35,089.74
  • The S&P 500 jumped 0.52% to 4,500.53
  • The Nasdaq rebounded 1.58% to 14,098.01

Fed tightening to support the dollar
The euro was close to Friday’s three-week high on Monday morning after the European Central Bank’s hawkish turn last week, but analysts said further near-term gains looked less likely with the looming tightening. Fed supporting the dollar.

  • The dollar index was pinned at 95.461
  • The euro remained stable at $1.1451
  • The pound rose to $1.35310
  • The yen fell to 115.16 per dollar
  • The yuan traded hands at 6.3328 against the greenback

Oil starts the week with a fall
Oil prices fell on Monday on expectations that U.S.-Iranian talks could be close to concluding on reviving a deal restricting the OPEC country’s development of nuclear weapons, which would boost the crude supply, although global supply concerns limited losses.

Brent crude was down 53 cents, or 0.6%, at $92.74 a barrel at 0055 GMT. U.S. West Texas Intermediate crude fell 74 cents, or 0.8%, to $91.57 a barrel.

FII sell shares worth Rs 2,268 cr
Net-net, Foreign Portfolio Investors (REITs) became sellers of domestic equities to the tune of Rs 2,267.86 crore, according to data available with NSE. DIIs became net sellers to the tune of Rs 621.98 crore, according to the data. REITs withdrew Rs 3,627 crore from shares during the period Feb 1-4. REITs are net sellers for the fourth consecutive month.

Third quarter results today
PB Fintech, Tube Investments of India, Union Bank of India, TVS Motor Company, Minda Industries, GSK Pharma, Sundaram Finance, Clean Science & Technologies, KPR Mills, National Aluminium, Indian Bank, Phoenix Mills and Castrol India are among the companies that will announce their results for the December quarter today.

MONEY MARKETS

Rupee: The rupiah ended its three-day losing streak as it recovered 19 paise to close at 74.69 against the US dollar on Friday, following a weaker greenback against its main overseas rivals.

10-year bonds: India’s 10-year bond fell 0.15% to 6.87 after trading in the 6.86-6.95 range on Friday.

Call rates: The weighted average overnight money rate stood at 3.23% on Friday, according to RBI data. It evolved within a range of 2.20 to 3.50%.