SGX Nifty nears 18,300 level: 10 things you should know before the Opening Bell

Domestic stocks may open on a firm note, tracking Friday's rally in US stocks and a firm start by Asian markets to the week. The sentiment will be supported by an appreciation in rupee and strong foreign inflows. Stock-specific action is likely amid a flurry of quarterly results. Here's what you should know before the Opening Bell: 

Nifty outlook

Nifty on Friday formed a bullish candle on daily and weekly charts. The BS barometer took out its previous swing high on the weekly scale, but saw selling at higher level. Analysts said the 50-pack index would continue to consolidate as long as it does not take out 18,200 level. The levels of 18,000 and 17,800 would act as key supports, they said.   

SGX Nifty signals a firm start 

Nifty futures on the Singapore Exchange quoted 89 points, or 0.49 per cent, higher at 18,292, hinting at a firm start for the domestic market on Monday.

Asian markets trade mostly higher

Asian markets, except the one in mainland China, were trading higher in early trade. Japan's Nikkei gained 1.29 per cent. Hong Kong's Hang Seng was up 1.34 per cent. Korea's Kospi rose 0.7 per cent while Taiwan's key index was up 1 per cent.

Wall Street stocks settle higher

US stocks ended higher on Friday after jobs report came in stronger than expected, but hinted at some slack in the tight US labour market, raising hopes the Federal Reserve might ease up on monetary tightening. Dow Jones advanced 1.26 per cent to 32,403.22. S&P 500 rose 1.36 per cent to 3,770.55. Nasdaq Composite gained 1.28 per cent to 10,475.25.

Q2 results today

Coal India, PB Fintech, Divis Labs, BPCL, One97 Communications, Aditya Birla Capital, Sundaram Finance, Affle (India) and KEC International are among dozen of companies that are scheduled to report their September quarter results later in the day.

Corporate actions today

Three companies namely REC, Supreme Petrochem and Supreme Industries will go ex-dividend today. The boards of BLS International Services and Gloster will consider proposals of bonus issues. Evoq Remedies board will rights issue; Sequent Scientific and Gradiente Infotainment will consider issuing preferential shares.

Stock in F&O ban

Shares of LIC Housing Finance are 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 said security. This prohibition is lifted when the open interest in the stock drops below 80 per cent of the MWPL across exchanges.

Bikaji, Global Health IPOs to conclude today

The IPOs of Bikaji Foods International and Global Health will conclude today. The Bikaji issue is subsribed 1.48 times so far while the Global Health is subscribed 0.49 times. The price band for Bikaji IPO stands at Rs 285-300 per share. The offer is purely an offer for sale (OFS) of 29,373,984 shares. Global Health is offering its shares in a price band of Rs 319 to Rs 336 per share.  Its IPO consists of a fresh issue of equity shares aggregating to Rs 500 crore and an offer for sale (OFS) of up to 5.08 crore equity shares by the company's shareholders and the promoters.

FPIs buy shares worth Rs 1,436 crore

Provisional data available with NSE suggests FPIs were net buyers of domestic stocks to the tune of Rs 1,436.25 crore on Friday. Domestic institutional investors (DIIs), on the other hand, were sellers of equities to the tune of Rs 548.59 crore.

Rupee rises 47 paise against dollar

The domestic appreciated 47 paise to settle at 82.41 against the dollar on Friday. At the interbank foreign exchange market, the rupee opened at 82.85 against the greenback. It eventually settled at 82.41 over its previous close of 82.88.

Also read: Can Nifty continue its upward march? Here's what analysts say

Also read: Nifty Bank Outlook: Book profits at high; Axis, HDFC Bank, SBI and BOB look good bets