A host of domestic earnings, F&O expiry-related volatility and global cues including US President Donald Trump’s slamming of Opec for rising crude prices will influence the domestic stock market when it resumes trade on Monday. Technical charts are giving mixed signals. Let’s check out what else might matter to Dalal Street through the day:
Singapore trading sets stage for positive start
Nifty futures on the Singapore Stock Exchange were trading 58 points, or 0.55 per cent, lower at 10,641, indicating a weak start for the Nifty50.
The Nifty50 on Friday settled flat to form an indecisive 'Doji' candle on the daily chart. The index ended up making a bullish candle for the fourth consecutive session on the weekly chart, which meant the upside is capped for now, unless Nifty comes out of its rangebound mode. “Unless the Nifty50 emerges out of this 10,594 – 10,509 range with a breakout on either side, trading shall remain listless,” said Mazhar Mohammad, Chief Strategist for Technical Research & Trading Advisory at Chartvi ..
F&O data suggests further upside
Minor Put writing was observed at strike prices 10,350 and 10,500 while Call unwinding was seen at all immediate strike prices, which is providing room for further upward move, said Chandan Taparia of Motilal Oswal Securities. Maximum Put open interest stood at strike price 10,500 followed by 10,400 while maximum Call OI was at 10,700 followed by 10,600. The options band suggests an immediate trading range between 10,480 and 10,700 levels, Taparia said.
Key Q4 earnings today
Bharat Financial Inclusion, Cholamandalam Finance, Delta Corp, GNFC, Bharati Infratel, LIC Housing Finance, Reliance Infra and Reliance Naval are scheduled to announce their quarterly numbers during the day.
Trump says Long way to go on N Korea
US President Donald Trump said the North Korean nuclear crisis is far from conclusion on Sunday, striking a cautious note a day after the North’s pledge to end its nuclear tests raised hopes before planned summits with South Korea and the United States, Reuters reported. North Korea said on Saturday it was suspending nuclear and missile tests and scrapping its nuclear test site, and instead pursuing economic growth and peace.
Trump slams Opec for inflating crude prices
In a tweet, the US President said, “Looks like Opec is at it again. With record amounts of oil all over the place, including the fully loaded ships at sea. Oil prices are artificially very high! No good and will not be accepted!"
FPI outflows in April at Rs 8,000 crore
Foreign investors have pulled out nearly Rs 8,000 crore from the Indian capital markets so far this month due to 'considerable' volatility in global markets on account of the ongoing trade negotiations and firming up of bond yields. This comes following an inflow of Rs 11,654 crore in equities last month and an outflow of over Rs 9,000 crore from the debt markets.
DIIs buy Rs 111 cr worth of equities
Foreign portfolio investors (FPIs) sold Rs 21 crore worth of domestic stocks on Friday, provisional data available with BSE suggested. DIIs were net buyers to the tune of Rs 111 crore, data suggested.
Rupee drops to lowest in 13 months
Bonds and the rupee crashed on Friday as the minutes of the Monetary Policy Committee meeting quoted a deputy governor that signalled there might be a tightening of rates in June if commodity prices rally upset inflation calculations. The rupee breached the crucial 66 level, extending losses against the dollar amid a bout of overseas fund outflows. This week, the local unit lost 1.36 per cent to close at 66.11 a dollar Friday, its weakest in 13 months.
Sebi may seek forensic probe of ICICI Bank books
Markets watchdog Sebi is mulling getting a forensic examination done on financial statements and disclosures made by ICICI Bank in last few years amid a controversy over alleged conflict of interest involving the lender's CEO Chanda Kochhar and her husband.
Sebi strengthens dividend payment procedure
Markets regulator Sebi on Friday put in place detailed guidelines to streamline and strengthen procedures with regard to handling and maintenance of records, transfer of securities, and payment of dividend by registrar and share transfer agents. Besides, the norms are applicable for issuer companies and bankers to an issue. The guidelines will deal with areas like payment of dividend, interest and redemption; correction of errors; an ..
