SGX Nifty rises 54 points: Coal India dividend, Fusion Micro Finance market debut & more

 

Domestic stocks are likely to open higher on Tuesday, but are likely to consolidate in a range. Asian markets were trading mixed in early trade;  crude oil prices fell further while the dollar was trading higher.  All eyes were on the market debut of Fusion Micro Finance.  Here's what you should know before the Opening Bell: 

Nifty outlook

The near term uptrend status remains intact and the Nifty is now showing a minor consolidation at the 18,350 hurdle, said Nagaraj Shetti, Technical Research Analyst at HDFC Securities. The choppy movement could continue for the next 1-2 sessions, before showing another round of sharp upside bounce, he said while suggesting the immediate support for the index at 18,250.

SGX Nifty signals a positive start 

Nifty futures on the Singapore Exchange quoted 53.50 points, or 0.29 per cent, higher at 18,431, hinting at a positive start for the domestic market on Tuesday.

Asian markets rise in early trade

Asian markets were trading mostly higher in early trade on Tuesday. Japan’s At 7.50 am IST, Nikkei was trading 1.03 per cent higher; Hong Kong’s Hang Seng jumped 2.04 per cent; China’s Shanghai Composite advanced 0.43 per cent while Taiwan’s key index rose 1.56 per cent. Korea’s Kospi, meanwhile, edged 0.26 per cent higher.
 
US stocks settle lower

Key US indices settled lower on Monday, as investors digested comments from US Federal Reserve officials about plans for interest rate hikes. Dow Jones declined 211.16 points, or 0.63 per cent, to 33,536.7. S&P500 fell 35.68 points, or 0.89 per cent, to 3,957.25. Nasdaq Composite lost 127.11 points, or 1.12 per cent, to 11,196.22.

Q2 results today

In the last leg of quarterly earnings, Rajesh Exports, AVG Logistics, Shahlon Silk Industries, MRC Agrotech, Advance Syntex are among companies that will disclose their quarterly or half yearly results today.

Corporate actions today

Tuesday will see at least five stocks namely Coal India, Gloster, Procter & Gamble Health, Aegis Logistics and Amara Raja Batteries going ex-dividend. Shares of Modis Navnirman will go ex-bonus today in 3:1 ratio.

Fusion Micro Finance to list today

Fusion Micro Finance will make market debut today. The IPO, which was sold from November 2 to November 4, got subscribed 2.95 times subscription. The public offer received bids for 6,30,35,880 shares against 2,13,75,525 shares on offer, BSE data showed. The non-institutional investors' category was subscribed 1.38 times, qualified institutional buyers (QIBs) portfolio by 8.59 times and retail portion by 51 per cent.

Stocks in F&O ban list

Shares of BHEL, GNFC SUN TV and Punjab National Bank 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.

FPIs buy shares worth Rs 1,089 crore

Provisional data available with NSE suggests FPIs were net buyers of domestic stocks to the tune of Rs 1,089.41 crore on Monday. Domestic institutional investors (DIIs) were buyers of equities to the tune of Rs 47.18 crore.

Rupee falls 50 paise against dollar

The rupee fell 50 paise to settle at 81.28 against the dolla on Monday, thanks to strong demand for the greenback from corporates and oil companies and a firm dollar in the overseas markets. A muted trend in domestic stocks and rising crude oil prices also weighed on investor sentiment.

Also read: Wall Street ends lower as investors gauge Fed's policy path; Nasdaq loses over 1%