GIFT Nifty up 100 points; here's the trading setup for today's session
Going forward, analysts say first quarter earnings will remain a key trigger, with many large companies scheduled to report their results.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 107.50 points, or 0.43 per cent, at 25,058.50, signaling that Dalal Street was headed for positive start on Monday.
- Tech View: The positive chart pattern like higher tops and bottoms is intact on the daily chart and Nifty seems to have confirmed a new higher bottom formation recently, said Nagaraj Shetti of HDFC Securities.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 2.3% to settle at 12.25 levels.
US stocks climb
A gauge of global stocks climbed for the first time in four sessions on Friday as equities steadied after a sharp selloff and U.S. economic data showed an improving inflation landscape, sending Treasury yields lower.
Asian shares up
Asian shares snapped three days of losses to rise on Monday, before a week of key central bank decisions in Japan, the US and the UK, as well as some big tech earnings releases.
- S&P 500 futures rose 0.2% as of 9 a.m. Tokyo time
- Hang Seng futures rose 0.6%
- Japan’s Topix rose 1%
- Australia’s S&P/ASX 200 rose 0.1%
- Euro Stoxx 50 futures rose 1.1%
Oil rises
Oil prices rose on Monday, paring last week's loss, on fears of a widening conflict in the Middle East following a rocket strike in the Israeli-occupied Golan Heights, which Israel and the
