GIFT Nifty down 11 points: Asian markets, crude oil prices, dollar movement & more

Domestic stock indices are likely to open marginally higher on Tuesday, as investors absorb the Middle East developments. Asian stocks opened with big gains in early trade, tracking an overnight rise in US stocks. US dollar eased slightly; crude oil prices also cooled down. Here's what you should know before the Opening Bell: Nifty outlook Jatin Gedia, Technical Research Analyst at Sharekhan said Nifty witnessed swings in both directions. On the daily charts, positive momentum from the previous week could not continue and that the index is in the process of retracing the rise it has saw from 19,333 to 19,676 levels. "On the way down, a support is placed in the 19,500-19,460 range, which coincides with the 61.82 per cent Fibonacci retracement level. Nifty is likely to resume its next leg of up move from the support zone," he said. Nifty Bank outlook VLA Ambala from Stock Market Today said that Monday’s intraday low was a very major level for the banking index. If the level gets broken down, more selloff is likely. A fresh breakout buying could be seen above 44,065. Nifty Bank's nearest support is 43,800-43,720 and major support at 43,500, she added. GIFT Nifty signals a negative start Nifty futures on the NSE International Exchange traded 10.50 points, or 0.05 per cent, higher at 19,611, hinting at a flattish start for the domestic market on Tuesday. Asian stocks post big gains Asian stocks open higher on Tuesday following a curious day across world markets on Monday that saw virtually every asset class move higher despite the geopolitical tensions and uncertainty sparked by the violence in Israel and Gaza.US stock futures slid in Asia on Monday as the military conflict. The MSCI's broadest index of Asia-Pacific shares outside Japan surged 1.09 per cent. Japan's Nikkei zoomed 2.38 per cent; Australia's ASX 200 surged 1.19 per cent; New Zealand's DJ gained 0.89 per cent; China's Shanghai shed 0.28 per cent; Hong Kong's Hang Seng soared 1.26 per cent; South Korea's Kospi rallied 1.07 per cent. Oil prices take a breather Oil prices edged down slightly on Tuesday after gaining more than 4 per cent in the previous session as markets weighed the potential for supply disruptions as the conflict between Israel and the Palestinian Islamist group Hamas continued. Brent crude fell 18 cents, or 0.2 per cent, to $87.97 a barrel at 0017 GMT, while US West Texas Intermediate crude eased 16 cents or 0.2 per cent to $86.22 a barrel. Dollar slips as Fed sends dovish signals The dollar softened on Tuesday along with US interest rate expectations and a fall in Treasury yields as investors detected a slight dovish shift in Federal Reserve officials' tone. Investors are bracing for a drawn-out conflict after a weekend attack from Palestinian militants and Israel's retaliation. The yen held small gains and last traded firmly at 148.34 per dollar. The euro was up 0.1 per cent in early Asia trade to $1.0580. Sterling was a fraction firmer against the dollar at $1.2244. US stocks settle higher Wall Street's major indices closed higher on Monday while energy stocks rallied as investors digested the latest news about the conflict between Israel and the Palestinian Islamist group Hamas. The Dow Jones Industrial Average rose 197.07 points, or 0.59 per cent, to 33,604.65. The S&P 500 gained 27.16 points, or 0.63 per cent, at 4,335.66 and the Nasdaq Composite added 52.90 points, or 0.39 per cent, at 13,484.24. Stocks in F&O ban list Six stocks - L&T Finance Holdings, MCX India, Indiabulls Housing Finance, Delta Corp, Punjab National Bank and Manappuram Finance - have been put under the F&O segment ban by the National Stock Exchange (NSE) for Tuesday, October 10. Companies where derivative contracts cross 95 per cent of the market-wide position limit are put under bad in the F&O segment. FPIs sell shares worth Rs 998 crore Provisional data available with NSE suggest that FPIs were net sellers of domestic stocks to the tune of Rs 997.76 crore on Monday. Domestic institutional investors (DIIs) were net buyers of Indian equities to the tune of Rs 2661.27 crore. Rupee slips 1 paisa against dollar The rupee slipped 1 paisa to 83.28 against the US dollar on Monday amid a weak trend in domestic equities and surging crude oil prices in the international markets. Forex traders said the safe-haven dollar gained ground due to heightened concerns in the Middle East. Note: With inputs from PTI, Reuters and other agencies