GIFT Nifty down 20 points; here's what changed for market while you were sleeping
profit booking in domestic equities dragged key indices down towards the end of the last week. Markets will likely take cues from first quarter earnings and inflation data, which will be released later this week. «Going forward, markets are likely to sustain the current momentum, as stock-specific action will pick up with the onset of the Q1FY24 earning season,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Option data suggests a broader trading range in between 19100 to 19700 zones while an immediate trading range in between 19200 to 19500 zones. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a negative start GIFT Nifty on the NSE IX traded 20.5 points, or 0.11 per cent, lower at 19,437.50, signaling that Dalal Street was headed for negative start on Monday.
Tech View: The immediate supports like ascending resistance line as per change in polarity and daily 10-period EMA are placed around 19200 levels, which could be an immediate cluster support for the market on further weakness ahead. Any upside bounce from here could encounter strong hurdles at 19425 levels. India VIX: India VIX, which is a measure of the fear in the markets, fell 2.60% to settle at 11.53 levels.US stocks slip Wall Street's main indexes ended lower on Friday in a seesaw session, as investors digested a U.S. jobs report that showed weaker-than-expected growth and awaited more economic data and corporate earnings in the weeks ahead.Asian shares mixedAsian share were mixed on Monday as investors looked ahead to a key reading on U.S. inflation and the start of another corporate earnings season.
S&P 500 futures were little changed as of 9:09 a.m. Tokyo time. The Read more on economictimes.indiatimes.com
