GIFT Nifty up 45 points; here's what changed for market while you were sleeping
Further, the current week will also see India's first quarter GDP numbers, which will throw some light on the country's economic trajectory.
«We continue to expect the Nifty to be in a narrow range due to lack of positive triggers. In the meantime, niche mid and small cap sectors are likely to remain in action,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services.
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 45 points, or 0.23 per cent, higher at 19,282.50, signaling that Dalal Street was headed for positive start on Monday.
- Tech View: Nifty declined to a significant moving average (55EMA) support level. The sentiment is expected to stay bearish as long as the index remains below 19450, where the 21-day Exponential Moving Average (EMA) is positioned on the daily timeframe. If the index decisively falls below 19240, it could potentially lead the Nifty towards the 19000 mark.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 3.27% to settle at 12.08 levels.
US stocks rises
US stocks ended a volatile session higher on Friday as investors digested comments from Federal Reserve Chair Jerome Powell that the U.S. central bank may need to raise interest rates further to ensure inflation is contained.
- Dow rises 0.7%,
- S&P 500 gains 0.7%,
- Nasdaq up 0.9%
Asian shares up
Asian stocks advanced, following US equities with modest gains Monday after Jerome Powell said the Federal Reserve would “proceed carefully” on whether to raise interest rates again, while signaling policy will remain tighter for longer.
- S&P 500 futures were little changed as of 9:20 a.m. Tokyo time. The S&P
