SGX Nifty jumps over 100 pts: 11 things you should know before the Opening Bell

Domestic stocks are likely to open higher on Tuesday, in line with other Asian markets. But the gains could be capped ahead of the kick start of the two-day US Fed policy meet later in the day. Auto stocks would be in focus ahead of the release of October auto sales data. Here's what you should know before the Opening Bell: 

Nifty outlook

Nifty50 on Monday moved up smartly after breaking out of its consolidation range on the daily chart, hinting at more upside ahead. Analysts said the index could face resistance at 18,100 and 18,300 levels while they see supports for the index at 17,850 and 17,700 levels.
 
SGX Nifty signals a strong start 

Nifty futures on the Singapore Exchange quoted 106.50 points, or 0.59 per cent, higher at 18,167, hinting at a strong start for the domestic market on Tuesday.

Asian markets gain in early trade

Asian markets advanced on Tuesday morning ahead of the kick start of the two-day US Federal Reserve policy review later in the day. China's Shanghai Composite jumped 0.44 per cent to 2,906.16. Korea's Kospi gained 1.13 per cent to 2,319.29. Hong Kong's Hang Seng surged 1.75 per cent to 14,944.50. Australia's S&P ASX200 index also rose 0.66 per cent to 6,908.70.

Wall Street stocks settle lower

US stocks settled lower in overnight trade, as investor focus turned to the Federal Reserve's policy meeting this week. The US central bank is widely expected to hike interest rates by 75 basis points on Wednesday, but investors would look for any signals the Fed may be considering a slow down in the pace of rate hikes in the future. Dow Jones declined 128.85 points, or 0.39 per cent, to 32,732.95. S&P500 slipped 29.08 points, or 0.75 per cent, to 3,871.98. e Nasdaq Composite fell 114.31 points, or 1.03 per cent, to 10,988.15.

4 Nifty cos to report Q2 results

Nifty constituents Sun Pharmaceutical Industries, Adani Ports & SEZ, Tech Mahindra and UPL are among dozens of companies that would announce their September quarter results later in the day. Others included Macrotech Developers, Varun Beverages, Max Healthcare, Voltas, Kansai Nerolac, LIC Housing, Spandana Sphoorty Financial, JK Tyre & Industries and Karnataka Bank, among others. 
 
9 stocks to go ex-dividend today

A total of nine stocks including Hindustan Unilever, Nippon Life India Asset Management, Birlasoft, Route Mobile and NACL Industries will go ex-dividend on Tuesday, data compiled by corporate database Capitaline suggests. Ramkrishna Forgings, Steetcast, KP Energy and Shree Digvijay Cement are a few other stocks that will go ex-dividend today.

Stocks in F&O ban

No security is banned in the F&O segment today. Derivative contracts in a security is banned when it crosses 95 per cent of the market-wide position limit (MWPL). No new positions can be created in the derivative contracts of the security. The prohibition is lifted when the open interest in the stock drops below 80 per cent of the MWPL.

Auto sales data

Auto stocks will be in focus, as the companies announce October sales data. Nomura India said its dealer survey suggests festive season demand remained K-shaped. Premium segment demand remained high, but entry-segment cars and two-wheelers sales were slow. "We have been concerned about the mass segments since October 2021. Overall festive sales for tractors were ahead of dealer expectations but those for PV and 2Ws were in-line," the brokerage said.

FPIs buy shares worth Rs 4,179 crore

Provisional data available with NSE suggests FPIs were net buyers of domestic stocks to the tune of Rs 4,178.61 crore. Domestic institutional investors (DIIs), on the other hand, were sellers of equities to the tune of Rs 1,107.10 crore.

Oil falls on likely rise in US output

Oil prices fell on Monday on expectations that US production could rise going ahead. Brent crude futures dropped 94 cents, or 0.98 per cent, to $94.83 a barrel. US West Texas Intermediate (WTI) crude fell $1.37 to $86.53 a barrel, a 1.6 per cent loss. Both benchmarks notched their first monthly gains since May.

Rupee at 82.47 against dollar

The domestic currency pared its initial gains and settled 31 paise lower at 82.78 against the US dollar on Monday, tracking the strength of the greenback in the overseas market. At the interbank foreign exchange market, the local unit opened at 82.35 and witnessed a high of 82.32 and a low of 82.80 during the day.