Nifty to reclaim 18000 or bears to disrupt Dalal Street- 7 things to know before market opening bell

Nifty to reclaim 18000 or bears to disrupt Dalal Street? 7 things to know before market opening bell

Indian benchmark indices are likely to open on a muted note on Monday, hinted SGX Nifty. On the Singapore Exchange, Nifty futures were trading lower at 17813. In the previous session, BSE Sensex rallied 910 pts or 1.52% to 60,842, while NSE Nifty 50 jumped 1.4% to 17,854. “Banking stocks will react on Monday to SBI results. Investors await key monthly US jobs data. This week, the market will keep eye on US Fed Chair Powell’s speech due on Tuesday,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.Key things to know before share market opens

Global market watch: Stocks in the Asia-Pacific mostly fell on Monday as a stronger-than-expected jobs report from the US worrying investors the Federal Reserve has room for more interest rate hikes, as it continued its efforts to control inflation. Hong Kong’s Hang Seng index fell 2%. In Mainland China, the Shenzhen Component shed 1% and the Shanghai Composite also lost 0.9%. Japan’s Nikkei 225 gained 0.9%, while South Korea’s Kospi fell 0.7%. Over in the US, Wall Street stocks fell on Friday. Dow Jones fell 0.38%, S&P 500 lost 1.04%, and the Nasdaq Composite dropped 1.59%.

Key levels to watch: “If Nifty manages to trade above 17950, then we can expect a move towards the 18200–18300 zone. On the downside, 17400 will act as an immediate support level, while the 200-DMA of 17300 is a sacrosanct support level on a closing basis. Bank Nifty is holding a psychological level of 40,000 on a closing basis. 200-DMA is around 39,000, a key support level. 41800, 42000, and 42600 will be resistances on the upside,” said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.

FII and DII data: Foreign institutional investors (FII) sold shares worth Rs 932.44 crore, while domestic institutional investors (DII) purchased shares worth Rs 1,264.74 crore on 3 February, according to the provisional data available on the NSE.

Stocks under F&O ban on NSE: The National Stock Exchange has Adani Ports on its F&O ban list for 6 February 6. According to the NSE, the stocks mentioned above are prohibited in the F&O sector because they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.

Q3 Results today: Tata Steel, Adani Transmission, AGS Transact Technologies, Balaji Amines, Easy Trip Planners, Infibeam Avenues, JK Paper, Kolte-Patil Developers, LIC Housing Finance, Monte Carlo Fashions, Muthoot Finance, Nuvoco Vistas Corporation, OnMobile Global, Shankara Building Products, SJVN, Tejas Networks, Unichem Laboratories, and Varun Beverages will report their quarterly earnings on Monday, 6 January.

Crude prices rise: Oil prices inched up in early trade on Monday after falling around 8% last week to more than three-week lows as jitters over major economies outweighed signs of a demand recovery in China, the world’s top oil importer. Brent crude futures crawled up 16 cents, or 0.2%, to $80.10 a barrel at 0022 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 15 cents, also 0.2% higher, to $73.54 a barrel.