GIFT Nifty up 10 points; here's what changed for market while you were sleeping
This week would be crucial for domestic markets as RBI is set to announce its interest rate decision. «Markets are likely to move in a broader range with some volatility. Interest-sensitive sectors are expected to remain in focus,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Option data suggests a broader trading range in between 19000 to 20000 zones while an immediate trading range in between 19200 to 19600 zones. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a muted startGIFT Nifty on the NSE IX traded 8 points, or 0.04 per cent, higher at 19,596.50, signaling that Dalal Street was headed for muted start on Monday.
Tech View: Nifty is likely to be in a sell-on-rally mode until 19660 level gets taken out decisively. Although options data for calls and puts are evenly distributed, the ferocity of the fall has made the index biased turn towards the downside barring the level mentioned. India VIX: India VIX, which is a measure of the fear in the markets, fell 5.48% to settle at 10.57 levels.US stocks downWall Street stocks fell on Friday, while the U.S. dollar and Treasury yields were lower, after a government jobs report showed a slowing but still tight U.S. labor market.Asian shares cautiousAsian share markets started in a cautious mood on Monday after a mixed U.S. jobs report sparked a rally in beaten-down bonds, but new hurdles lay ahead in the shape of U.S. and Chinese inflation figures due later this week.Oil extends gainsOil prices extended gains on Monday to touch their highest levels since mid-April after top producers Saudi Arabia and Russia pledged to keep supplies down for another month to tighten global markets
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