Domestic stocks are expected to open on a positive note, following firm indices from other Asian markets. That said, the technical charts indicate a halt in the current rally. A rise in oil prices to three-year highs could also limit the rise in domestic stocks. Here is the detail of the actions prior to marketing:

STATE OF THE MARKETS


SGX Nifty signs a positive start
Shrewd futures on the Singapore Stock Exchange traded 107 points, up 0.60% at 17,965, signaling that Dalal Street was heading for a positive start on Monday.

  • Technical view: Nifty50 on Friday formed an indecisive candle on the daily chart, but a strong bullish candle on the weekly scale. Analysts said the index could see a break in momentum in the coming days.
  • India VIX: The fear gauge rose 1.92 percent to 16.92 on Friday from its close of 16.60 on Thursday.

Asian stocks rise early in the session
Asian stocks got off to a positive start on Monday, even as a surge in oil prices to three-year highs could stoke inflation fears and worsen the recent hawkish turn of some major central banks. The largest MSCI index for Asia-Pacific stocks outside of Japan remained stable after three consecutive weeks of losses.

  • Australia’s ASX 200 climbs 0.86%
  • New Zealand DJ added 0.24%
  • The Japanese Nikkei rose 0.33%
  • China’s Shanghai Comp rose 0.31%
  • Hong Kong’s Hang Seng jumped 1.11%

US stocks have stabilized
The Dow and S & P500 indexes edged up on Friday and ended an eventful week with slight increases, helped by gains from Tesla and Facebook which offset Nike’s fall.

  • The Dow Jones rose 0.10% to 34,798
  • The S & P500 gained 0.15% to 4,455.48
  • The Nasdaq fell 0.03% to 15,047.70

Dollar closes in early trade
The rebound in yields supported the US dollar, particularly against emerging market currencies that compete with Treasuries for global funds. Against a basket of currencies, the dollar was firm at 93.292 and just off the 10 month August high at 93.734.

  • The dollar index stood at 93.292
  • The euro is stable at $ 1.1726
  • The pound fell 0.05% to $ 1.3675
  • The yen stood at 110.79 per dollar
  • The yuan was trading at 6.4669 against the greenback

Oil price hits 3-year highs
Oil broke July peaks as disruptions to global production forced energy companies to remove large amounts of crude from inventories, while a shortage of natural gas in Europe pushed costs up across the continent . Brent added another 62 cents on Monday to $ 78.71 a barrel, while U.S. crude rose 71 cents to $ 74.69.

FII buy shares worth Rs 442 crore
Net-net, foreign portfolio investors (REITs) turned buyers of domestic stocks to the tune of Rs 442 crore, according to data available from NSE. The DII were sellers to the tune of Rs 515.85 crore, the data suggests.

MONETARY MARKETS


Rupee: The Indian rupee slipped 4 peas to close at 73.68 against the US dollar on Friday, following the decline of its Asian peers against the US currency.

10-year bond: The 10-year Indian bond rose 0.67% to 6.181 after trading in a range of 6.160 to 6.188.

Call rates: The weighted average overnight call rate stood at 3.22% on Friday, according to RBI data. It has moved in a range of 1.95 to 3.40 percent.

DATA / EVENTS TO FOLLOW:

  • Speech by JP BoJ Gov Kuroda (11:05 am)
  • Speech by EA BCE President Lagarde (5.15 p.m.)
  • Speech by the US Fed Evans (5:30 p.m.)
  • Durable goods orders in the United States MoM AOT (6 p.m.)
  • US Dallas Fed Manufacturing Index SEP (8 p.m.)
  • GB BoE Gov Bailey Speech (8:30 p.m.)
  • Speech by the American Fed Williams (9:30 p.m.)
  • Speech by the American Fed Brainard (10:20 p.m.)

MACROS


Demand for commercial electric vehicles is expected to increase sharply
The demand for electric vehicles for commercial use is expected to increase 15 times over the next six months, due to rising fuel prices, incentives put in place by central and state governments, and the renewed focus of trading companies. electronics to electrify their last mile delivery fleets. , said a financier of such vehicles.

Rising market may be cause for concern for RBI
Investors have applauded the record highs in stock indexes, but that seems to heighten the concerns of policymakers at the Reserve Bank of India (RBI), which has previously signaled the negative fallout from financial asset price inflation.

SpiceJet to resume Boeing 737 MAX flights
Boeing’s 737 MAX airliner is set to fly to India again after two and a half years, with SpiceJet planning to resume operations of the plane from October 5.

IPhone 13 shortage upsets Apple’s basket
Apple’s newly launched iPhone 13 series has seen a drop in supply in India due to a global component shortage. Online stores and marketplaces are mostly depleted, and retailers and industry executives say supplies will remain spotty over the coming weeks.


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