Online Trading Academy – Trends in the SGX Nifty indicate a gap-up opening for the broader index in India on Monday with a gain of 181 points

The market is expected to open in the green as trends in the SGX Nifty indicate a gap-up opening for the broader index in India on Monday with a gain of 181 points.

The BSE Sensex rallied 345 points to 53,761, while the Nifty50 rose 110.5 points to 16,049 and formed a bullish candle, which resembles Hammer’s kind of pattern formation on the daily charts. For the week, there was a High Wave kind of pattern formation on the weekly scale, which indicates indecisiveness among bulls & bears, and the index lost 1 percent.

As per the pivot charts, the key support level for the Nifty is placed at 15,962, followed by 15,875. If the index moves up, the key resistance levels to watch out for are 16,102 and 16,154.

Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of important headlines across news platforms that could impact Indian as well as international markets:

US Markets

US stocks closed sharply higher on Friday, ending several days of sell-offs with a rebound fueled by upbeat earnings, strong economic data, and easing fears of a larger-than-expected interest rate hike by the Federal Reserve. Online Trading Academy.

All three major US stock indices posted solid gains, with financials leading the charge in the wake of Citigroup Inc’s earnings beat. This reversed Thursday’s sell-off driven by downbeat guidance from rivals JPMorgan Chase and Morgan Stanley.

The Dow Jones Industrial Average rose 658.09 points, or 2.15 percent, to 31,288.26, the S&P 500 gained 72.78 points, or 1.92 percent, at 3,863.16 and the Nasdaq Composite added 201.24 points, or 1.79 percent, at 11,452.42.

Asian Markets

South Korean stocks led gains in Asia-Pacific markets early on Monday as investors looked ahead to announcements later in the week. The Kospi rose 1.21 percent, while in Australia, the S&P/ASX 200 rose 0.52 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.5 percent. Japan’s market was closed for a holiday Monday.

SGX Nifty

Trends in SGX Nifty indicate a gap-up opening for the broader index in India on Monday with a gain of 181 points. The Nifty futures were trading around 16,221 levels on the Singaporean exchange.

IMF chief sees ‘exceptionally uncertain’ global outlook, deteriorating debt situation

IMF chief Kristalina Georgieva on Saturday warned officials from the Group of 20 major economies to take urgent action to combat inflation, warning that the “exceptionally uncertain” global economic outlook could turn worse if higher prices persisted.

The pressure was mounting on heavily-indebted countries, and the debt situation was “deteriorating fast,” she said.

FPIs remain in selling mode; take out Rs 7,400 crore from equities in July so far

Foreign investors continue to be cautious about the Indian equity market and have pulled out over Rs 7,400 crore this month so far amid sustained strengthening of the dollar and increasing concerns over a recession in the US.

While foreign portfolio investors (FPIs) have slowed down their pace of selling, this does not indicate a change in trend as there has not been any significant improvement in the underlying drivers, said Himanshu Srivastava, Associate Director – Manager Research, Morningstar India. Online Trading Academy.

Sula Vineyards files IPO papers with Sebi

India’s largest winemaker Sula Vineyards has filed papers with market regulator Securities and Exchange Board of India (Sebi) to raise capital through an initial public offering ( IPO), multiple industry sources with knowledge of the matter told Moneycontrol.

If the listing plans fructify, it would arguably be the first IPO in India by a pure-play wine manufacturer and the second filing in recent weeks by a player from the alcohol & spirits segment bitcoin mixer. Officers Choice whiskey maker Allied Blenders & Distillers filed its DRHP (draft red herring prospectus) last month.

“The e-filing of the DRHP with Sebi has been done. The IPO consists solely of an OFS component, as part of which Verlinvest and the promoter group are amongst the major selling shareholders,” sources said. According to the DRHP, the size of the offer-for-sale component is up to 25,546,186 equity shares.

India’s forex reserves plunge by $8 billion in the week ended July 8, falling to over a 15-month low

India’s foreign exchange reserves plunged by $8 billion in the week ended July 8 to $580.25 billion, the lowest in more than 15 months, data released on July 15 by the Reserve Bank of India (RBI) showed. The weekly decline is the largest since the week ended April 1, when reserves had dropped by $11.17 billion.

The decline in reserves was driven by a $6.66 billion drop in the RBI’s foreign currency assets, which fell to $518.09 billion from $524.75 billion as of July 1. Gold reserves fell to $39.19 billion from $40.42 billion in the prior week. Online Trading Academy.

The fall in the RBI’s foreign exchange reserves comes amid a sharp depreciation of the rupee’s exchange rate. The Indian unit hit a record low of 79.96 per dollar on July 15 and is down over 5 percent in FY23.

Results on July 18

HeidelbergCement India, Nelco, Bank of Maharashtra, Bhansali Engineering Polymers, Alok Industries, Ganesh Housing Corporation, Onward Technologies, Sudal Industries, Tanfac Industries will be in focus ahead of quarterly earnings on July 18.

FII and DII data

Foreign institutional investors (FIIs) have net sold shares worth Rs 1,649.36 crore, whereas domestic institutional investors (DIIs) net bought shares worth Rs 1,059.46 crore on July 15, as per provisional data available on the NSE.

Stocks under F&O ban on NSE

One stock – Delta Corp – remained under the NSE F&O ban list for July 18 as well. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

With inputs from Reuters and other agencies

Trends in the SGX Nifty indicate a gap-up opening for the broader index in India on Monday with a gain of 181 points

The market is expected to open in the green as trends in the SGX Nifty indicate a gap-up opening for the broader index in India on Monday with a gain of 181 points.

The BSE Sensex rallied 345 points to 53,761, while the Nifty50 rose 110.5 points to 16,049 and formed a bullish candle, which resembles Hammer’s kind of pattern formation on the daily charts. For the week, there was a High Wave kind of pattern formation on the weekly scale, which indicates indecisiveness among bulls & bears, and the index lost 1 percent.

As per the pivot charts, the key support level for the Nifty is placed at 15,962, followed by 15,875. If the index moves up, the key resistance levels to watch out for are 16,102 and 16,154.

Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of important headlines across news platforms that could impact Indian as well as international markets:

US Markets

US stocks closed sharply higher on Friday, ending several days of sell-offs with a rebound fueled by upbeat earnings, strong economic data, and easing fears of a larger-than-expected interest rate hike by the Federal Reserve.

All three major US stock indices posted solid gains, with financials leading the charge in the wake of Citigroup Inc’s earnings beat. This reversed Thursday’s sell-off driven by downbeat guidance from rivals JPMorgan Chase and Morgan Stanley.

The Dow Jones Industrial Average rose 658.09 points, or 2.15 percent, to 31,288.26, the S&P 500 gained 72.78 points, or 1.92 percent, at 3,863.16 and the Nasdaq Composite added 201.24 points, or 1.79 percent, at 11,452.42.

Asian Markets

South Korea stocks led gains in Asia-Pacific markets early on Monday as investors looked ahead to announcements later in the week. The Kospi rose 1.21 percent, while in Australia, the S&P/ASX 200 rose 0.52 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.5 percent. Japan’s market was closed for a holiday Monday.

SGX Nifty

Trends in SGX Nifty indicate a gap-up opening for the broader index in India on Monday with a gain of 181 points. The Nifty futures were trading around 16,221 levels on the Singaporean exchange.

IMF chief sees ‘exceptionally uncertain’ global outlook, deteriorating debt situation

IMF chief Kristalina Georgieva on Saturday warned officials from the Group of 20 major economies to take urgent action to combat inflation, warning that the “exceptionally uncertain” global economic outlook could turn worse if higher prices persisted.

Pressure was mounting on heavily-indebted countries, and the debt situation was “deteriorating fast,” she said.

FPIs remain in selling mode; take out Rs 7,400 crore from equities in July so far

Foreign investors continue to be cautious about the Indian equity market and have pulled out over Rs 7,400 crore this month so far amid sustained strengthening of the dollar and increasing concerns over a recession in the US.

While foreign portfolio investors (FPIs) have slowed down their pace of selling, this does not indicate a change in trend as there has not been any significant improvement in the underlying drivers, said Himanshu Srivastava, Associate Director – Manager Research, Morningstar India.

Sula Vineyards files IPO papers with Sebi

India’s largest winemaker Sula Vineyards has filed papers with market regulator Securities and Exchange Board of India (Sebi) to raise capital through an initial public offering ( IPO), multiple industry sources with knowledge of the matter told Moneycontrol.

If the listing plans fructify, it would arguably be the first IPO in India by a pure-play wine manufacturer and the second filing in recent weeks by a player from the alcohol & spirits segment. Officers Choice whiskey maker Allied Blenders & Distillers filed its DRHP (draft red herring prospectus) last month.

“The e-filing of the DRHP with Sebi has been done. The IPO consists solely of an OFS component, as part of which Verlinvest and the promoter group are amongst the major selling shareholders,” sources said. Aaccording to the DRHP, the size of the offer for sale component is up to 25,546,186 equity shares.

Online Trading Academy India’s forex reserves plunge by $8 billion in week ended July 8, fall to over 15-month low

India’s foreign exchange reserves plunged by $8 billion in the week ended July 8 to $580.25 billion, the lowest in more than 15 months, data released on July 15 by the Reserve Bank of India (RBI) showed. The weekly decline is the largest since the week ended April 1, when reserves had dropped by $11.17 billion.

The decline in reserves was driven by a $6.66 billion drop in the RBI’s foreign currency assets, which fell to $518.09 billion from $524.75 billion as of July 1. Gold reserves fell to $39.19 billion from $40.42 billion in the prior week.

The fall in the RBI’s foreign exchange reserves comes amid a sharp depreciation of the rupee’s exchange rate. The Indian unit hit a record low of 79.96 per dollar on July 15 and is down over 5 percent in FY23.

Results on July 18

HeidelbergCement India, Nelco, Bank of Maharashtra, Bhansali Engineering Polymers, Alok Industries, Ganesh Housing Corporation, Onward Technologies, Sudal Industries, and Tanfac Industries will be in focus ahead of quarterly earnings on July 18.

FII and DII data

Foreign institutional investors (FIIs) have net sold shares worth Rs 1,649.36 crore, whereas domestic institutional investors (DIIs) net bought shares worth Rs 1,059.46 crore on July 15, as per provisional data available on the NSE.

Stocks under F&O ban on NSE

One stock – Delta Corp – remained under the NSE F&O ban list for July 18 as well. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

With inputs from Reuters and other agencies