GIFT Nifty up 28 points: Asian markets, crude oil prices, dollar movement, Q2 earnings & more

Domestic benchmark indices are likely to open higher on Monday on firm global cues. Asian stocks rallied at open, tracking strong gains seen in the US market last week. Back home, India Inc earnings entered the last leg of earnings season. The IPO of Protean eGov Technologies will open for subscription today. Cello World will make  its market debut later today. Here's what you should know before the Opening Bell: Nifty outlook Nagaraj Shetti of HDFC Securities said the index formed a negative candle on the daily chart with a gap up opening. Technically, such formations are considered as a high wave type candle pattern, indicating a confused state of mind among market participants. "Nifty is currently placed at the edge of strong overhead resistance around 19,200-19,300 levels as per change in polarity principle. Still there is no confirmation of any decisive upside breakout of the hurdle. The short-term trend of Nifty remains positive. Immediate support is at 19,150," he said. Nifty Bank outlook Jay Thakkar of  Sharekhan said that the bounce in Nifty Bank also appears to be corrective in nature and it has a clear resistance in the range of 43,500-44,000 levels. "On the lower side, 42,849 is an immediate support and till those levels are held there can be a bounce back until 43,500-44,000 levels, however, if 42,849 breaks anytime from hereon then next move down will be confirmed for the targets of 42,000, 41,500 and 41,000 levels," he said. GIFT Nifty signals a positive start Nifty futures on the NSE International Exchange traded 27.5 points, or 0.14 per cent, higher at 19,454.50, hinting at a positive start for the domestic market on Monday. Asian shares open higher  Asian shares rallied for the fourth straight session on Monday after the market moved to price in earlier rate cuts in the United States and Europe, bullish wagers that will be tested by a swarm of central bank speakers this week. The MSCI's broadest index of Asia-Pacific shares outside Japan was up 1.74 per cent. Japan's Nikkei surged 2.52 per cent; Australia's ASX 200 gained 0.32 per cent; New Zealand's DJ surged 0.53 per cent; China's Shanghai added 0.41 per cent; Hong Kong's Hang Seng rallied 1.66 per cent; South Korea's Kospi climbed  3.87 per cent. Oil prices nudge higher Oil prices edged up on Monday after top exporters Saudi Arabia and Russia said they would stick to extra voluntary oil output cuts until the end of the year, keeping supply tight, while investors watched out for tougher US sanctions on Iranian oil. Brent crude futures rose 41 cents, or 0.5 per cent, to $85.30 a barrel while US West Texas Intermediate crude was at $81.05 a barrel, up 54 cents, or 0.7 per cent. Dollar index flat at 105 level Major global currencies were steady early on Monday but seemed poised to extend last week's uptrend as the dollar nursed its losses after the Federal Reserve dialled down its hawkish rhetoric. The dollar index was flat at 105.11, with the euro at $1.0726. Sterling was last trading steady at $1.2368. The Japanese yen weakened 0.16 per cent to trade at 149.60 per dollar. US stocks ended higher Wall Street's main stock indexes rallied on Friday as bond yields fell sharply after data showed signs of slowing US jobs growth and an uptick in unemployment, boosting hopes that the Federal Reserve is done with its interest rate hiking campaign. The Dow Jones Industrial Average rose 222.24 points, or 0.66 per cent, to 34,061.32, the S&P 500 gained 40.56 points, or 0.94 per cent, to 4,358.34 and the Nasdaq Composite added 184.09 points, or 1.38 per cent, to 13,478.28. Cello World share to make market debut Shares of Cello World make their Dalal Street debut today. The pan-India consumer ware company raised a total of Rs 1,900 crore via its IPO, which was entirely an offer-for-sale (OFS). The company sold its shares in the range of Rs 617-648 apiece with a lot size of 23 equity shares sold between October 30-November 1. Q2 results today Varun Beverages Ltd, Divis Laboratories Ltd, Adani Energy Solutions Ltd, Max Healthcare Institute Ltd, Linde India Ltd, NHPC Ltd, Bharat Forge Ltd, The Fertilisers and Chemicals Travancore Ltd, FSN E-Commerce Ventures Ltd, Hindustan Petroleum Corporation Ltd, AIA Engineering Ltd, Honeywell Automation India Ltd, KPR Mills Ltd and Gland Pharma Ltd are among the companies which announced their earnings for the quarter ended on September 2023. Stocks in F&O ban Only one stock, Gujarat Narmada Valley Fertilizers and Chemicals (GNFC) , continues to be under the F&O segment ban by the National Stock Exchange (NSE) for Monday, November 6. Companies where derivative contracts cross 95 per cent of the market-wide position limit are put under ban in the F&O segment. DIIs buy shares worth Rs 402  crore Provisional data available with NSE suggest that FPIs were net sellers of domestic stocks to the tune of 12.43 crore on Friday. Domestic institutional investors (DIIs) were net buyers of Indian equities to the tune of Rs 402.69 crore. Overseas investors dumped equities worth Rs 3,412 crore in November 2023 so far. Rupee rose 2 paise against dollar The rupee settled 2 paise higher at 83.20 against the US dollar on Friday, tracking major Asian currencies amid a weak greenback and softening crude oil prices. A positive trend in domestic equities also supported the local unit, forex traders said. Note: With inputs from PTI, Reuters and other agencies