Domestic stock indices are likely to open higher on Thursday, ahead of monthly expiry of January series F&O contracts. Asian stocks were up in the early trade, tracking a firm closing for US stocks on Friday. Dollar stayed near a six-week high. Back home, ITC and Bajaj Finance will announce their Q3 results today Here's what all you know to know before the Opening Bell: Nifty outlook On Thursday, Nifty struggled to surpass the 21,500-mark. This is where call writers held substantial positions, said Rupak De, Senior Technical Analyst, LKP Securities. "Looking ahead, the trend is likely to remain sideways, fluctuating within the range of 21,300 and 21,500. Nevertheless, a decisive breakthrough above 21,500 could propel the index towards 21,700-22,000 in the short term," he said. Nifty Bank outlook Nifty Bank witnessed a sharp pullback from intraday lows though it closed marginally in the red, said Jatin Gedia, Technical Research Analyst at Sharekhan. "We can observe that there is a positive divergence and a positive crossover which indicates loss of momentum on the downside and indicates that there can be a relief rally going ahead till 45,500-45,700. On the downside 44,600-44,500 is the crucial support zone," he said. GIFT Nifty signals a positive start Nifty futures on the NSE International Exchange traded 95.50 points, or 0.44 per cent, higher at 21,649.50, hinting at a positive start for the domestic market on Monday. Asian shares open mostly higher Major stock markets in Asia opened higher on Monday as investors awaited fresh key economic data scheduled during the week and the US Fed interest rate decision this Wednesday. The MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.56 per cent. Japan's Nikkei surged 0.76 per cent; Australia's ASX 200 rose 0.25 per cent; New Zealand's DJ shed 0.11 cent; China's Shanghai fell 0.09 per cent; Hong Kong's Hang Seng surged 1.33 per cent; South Korea's KOSPI rallied 1.13 per cent. Oil prices jump on fresh Houthis attack Oil prices jumped 1 per cent on Monday on fuel supply concerns after a missile struck a Trafigura-operated fuel tanker in the Red Sea and as Russian refined products exports are set to fall as several refineries are under repair after drone attacks. Brent crude futures climbed 83 cents to $84.38 a barrel by 2341 GMT after hitting a session-high of $84.80. US West Texas Intermediate crude rose 78 cents to $78.79 a barrel. Dollar index flat ahead of Fed meet The dollar started the week on a steady footing as investors took stock of US economic data ahead of the Federal Reserve policy meeting this week, while escalating geopolitical tensions in the Middle East kept risk sentiment in check. The dollar index inched 0.01 per cent higher to 103.55 on Monday. The euro was down 0.05 per cent at $1.0847, while Sterling was last at $1.2703, up 0.04 per cent on the day. The Japanese yen strengthened 0.01 per cent to 148.14 per dollar on Monday. US shares settled mixed on Friday The S&P 500 ended a five-session streak of record highs on Friday, with Intel, opening a new tab slumping after a bleak revenue forecast, while US economic data showed inflation moderating. Even as the S&P 500 and Nasdaq ended the session lower, all three major indexes recorded their third straight weekly gain. The S&P 500 declined 0.07 per cent to end the session at 4,890.97 points. The Nasdaq declined 0.36 per cent to 15,455.36 points, while the Dow Jones Industrial Average rose 0.16 per cent to 38,109.43 points. Q3 results today ITC, Bajaj Finance, NTPC, Adani Green Energy, Bharat Electronics, GAIL (India), Bharat Petroleum Corporation, Vodafone Idea, Marico, Petronet LNG, Nippon Life India Asset Management, Tata Investment Corporation, Piramal Enterprises, RR Kabel, Aditya Birla Sun Life AMC, Godfrey Phillips India and Nuvoco Vistas Corporation are among the companies that will announced their results for the December 2023 quarter today. Stocks in F&O ban list Since it is the beginning of the new series and no have been put under the F&O segment ban by the National Stock Exchange (NSE) for Monday, January 29. Companies where derivative contracts cross 95 per cent of the market-wide position limit are put under ban in the F&O segment. FPIs sell shares worth Rs 2,144 crore Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 2,144.06 crore on Friday. On the other hand, domestic institutional investors (DIIs) turned net buyers of Indian equities to the tune of Rs 3,474.89 crore. Overseas investors have dumped domestic equities worth Rs 24,734 crore in the local markets in January 2024 so far. Rupee rises 1 paisa against dollar The rupee rose 1 paisa in a range-bound trade to close at 83.11 against the US dollar on Thursday, as the support from weak American currency overseas was negated by rising crude oil prices. Forex traders said the rupee is trading in a narrow range as muted domestic equities and sustained foreign fund outflows dented investor sentiments. Note: With inputs from PTI, Reuters and other agencies
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