The national stock market is expected to start the new week on a flat note, thanks to mixed indices from its Asian peers. US stocks generally fell over the weekend. Firm crude is likely to add pressure on the domestic currency and REIT outflows. Back home, traders will react to second quarter earnings from RIL and other key companies. Here is the detail of the actions prior to marketing:

STATE OF THE MARKETS


SGX Nifty signals a flat start
Shrewd futures on the Singapore Stock Exchange traded 14.5 points, or 0.08%, up to 18,159, signaling that Dalal Street was heading for a soft start on Monday.

  • Technical view: Nifty50 Friday fell for the fourth consecutive session. The index has formed a bearish candle on the daily and weekly charts. But as the index made lower lows on the daily chart, it formed a high-low pattern higher on the weekly scale.
  • India VIX: The fear gauge fell 3% to 17.54 on Friday from its close of 18.04 on Thursday.

Asian equity trading is mixed
Asian stocks opened mostly lower before giving mixed signs on Monday as investors wait for corporate earnings and the upcoming general election in Japan. The MSCI index of Asia-Pacific equities excluding Japan lost 0.13%.

  • The Japanese Nikkei lost 0.71%
  • South Korean Kospi added 0.14%
  • Australian ASX 200 gained 0.53%
  • Chinese Shanghai lost 0.12%
  • Hong Kong’s Hang Seng fell 0.35%

End of mixed actions on Wall Street
Wall Street closed a choppy trading day on Friday with a patchy finish for major stock indexes, as losses from several large tech companies weighed on the market. Investors got nervous when Federal Reserve Chairman Jerome Powell discussed cutting stimulus measures.

  • The Dow Jones added 0.21% to 35,677.02
  • The S&P 500 fell 0.11% to 4,544.90
  • The Nasdaq fell 0.82% to 15,090.20

The dollar stabilizes
The dollar stabilized on Monday after its biggest weekly loss in more than a month, as traders assess the effect of inflation on the relative pace of impending rate hikes – with a cautious eye on data from growth and a meeting of the European Central Bank.

  • The Dollar Index rose to 93.625
  • The euro fell slightly to $ 1.1643
  • The pound rose to $ 1.3772
  • The yen held steady at 113.54 per dollar
  • The yuan was stable at 6.385 against the greenback

Oil prices rise in a tight market
Oil prices rose on Monday, extending pre-weekend gains, with U.S. crude hitting a seven-year high as global supply remained tight amid strong global demand as economies shrank. recover from collapses induced by the coronavirus pandemic. Brent crude futures rose 26 cents, or 0.3%, to $ 85.79 a barrel at 0048 GMT. US West Texas Intermediate (WTI) crude futures rose 48 cents, or 0.6%, to $ 84.24 a barrel.

REITs sell shares worth Rs 2,698 cr
Net-net, foreign portfolio investors (REITs) turned sellers of domestic stocks to the tune of Rs 2,697.7 crore, according to data available from NSE. DII turned net buyers to the tune of 1,029.97 crore, the data suggests. So far, REITs have withdrawn 2,331 crore of Rs.

T2 benefits
Tech Mahindra, Indus Towers, SRF, HDFC Asset Management Company, Coforge, Colgate Palmolive, Icra, Kansai Nerolac Paints, The Ramco Cements, Aditya Birla Sun Life AMC, Home First Finance Company India, CEAT and CSB Bank are among the companies that advertise today their results for the September quarter.

MONETARY MARKETS


Rupee: The rupee edged down 3 peas to settle at 74.90 against the US dollar on Friday, weighed down by a moderate trend in domestic stocks and firm crude oil prices.

10-year bonds: The 10-year Indian bond jumped 0.41% to 6.36 after trading in a range of 6.34 to 6.37 on Friday.

Call rates: The weighted average overnight call rate stood at 3.33% on Friday, according to RBI data. It has evolved in a range of 2.00 to 3.45 percent.

DATA / EVENTS TO FOLLOW

  • Q2 Results: Tech Mahindra | Tours of the Indus | HDFC AMC
  • JP Leading Economic Index Final AOT (10:30 a.m.)
  • JP Coincident Index Final AOT (10:30 a.m.)
  • US Chicago Fed National Activity Index SEP (6 p.m.)
  • GB BoE Tenreyro Speech (6.30 p.m.)
  • U.S. Dallas Fed Manufacturing Index OCT (8 p.m.)

MACROS


Electronics, handsets fall short of Diwali demand
Demand exceeded supply just before Diwali’s crucial buying period for consumer electronics and high-end smartphones, as several popular models disappeared from the market.

Panel for the national employment policy soon
The government will soon set up a committee to develop India’s first national employment policy with the aim of significantly boosting job creation in the country.

IMD orange alert for four districts of Kerala
India’s meteorological department on Sunday issued an orange alert in four districts of Kerala for October 26 and a yellow alert in other districts for Monday. The orange alert indicates precipitation of 6 to 20 cm while a yellow alert means 6 to 11 cm of heavy rain.

China warns of further spread of Covid outbreak
China’s latest COVID-19 outbreak is increasingly likely to spread further, a health official said on Sunday, as authorities urged all regions to step up surveillance and called for reduced travel across the provinces.


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