Nifty on Friday fell for the second straight session and settled the week below the 18,300 level. Analysts said the 50-pack index had broken below the immediate support of 18,350 and it is likely to see a further fall, before making a recovery. 
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Nifty on Friday fell for the second straight session and settled the week below the 18,300 level. Analysts said the 50-pack index had broken below the immediate support of 18,350 and it is likely to see a further fall, before making a recovery. Domestic stocks are likely to see a positive start to Monday's trade as the dollar declined and S&P500 futures advanced. But the gains, if any, are likely to be muted as most Asian markets were trading lower in early trade. All eyes would be on the kick start of KFin Technologies initial public offer. Here's what you should know before the Opening Bell:
Nifty outlook
Nifty on Friday fell for the second straight session and settled the week below the 18,300 level. The NSE barometer formed bearish candles on both daily and weekly charts. The candles had long upper wicks, suggesting selling at higher levels. Analysts said the 50-pack index had broken below the immediate support of 18,350 and it is likely to see a further fall, before making a recovery.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange quoted 59 points, or 0.32 per cent, higher at 18,377, hinting at a positive start for the domestic market on Monday.
Asian markets rise in early trade
Asia's stock markets made a wobbly start to the final full trading week of 2022, with the prospect of interest rates rising further next year taking the edge off festive cheer, Reuters reported. Japan's Nikkei fell 1 per cent in early trade. S&P 500 futures rose 0.2 per cent in early Asia trade. .NMSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 per cent.
US stocks fall for 3rd straight day
US stocks dropped for a third straight session and suffered a second straight week of losses on Friday, as fears continued to mount that the Federal Reserve's campaign to arrest inflation would tilt the economy into a recession. The Dow Jones Industrial Average index fell 281.76 points, or 0.85 per cent, to 32,920.46; the S&P500 index lost 43.39 points, or 1.11 per cent, to 3,852.36; and the Nasdaq Composite index dropped 105.11 points, or 0.97 per cent, to 10,705.41.
Dollar index drops in early trade
The US dollar index, which tracks the movement of greenback against a basket of six major world currencies, slipped 0.18 per cent to 104.62. The yen climbed on news that the Japanese government is set to revise a joint statement with the Bank of Japan (BOJ) over the latter's inflation target, potentially paving the way for a tweak in the BOJ's ultra-loose monetary policy. Sterling rose 0.29 per cent to $1.2175 while euro gained 0.14 per cent to $1.0598.
KFintech IPO to open today
The Rs 1,500 crore IPO by KFin Technologies will open for subscription today. The IPO is a pure offer-for-sale (OFS) of by its existing promoter General Atlantic Singapore Fund. The price band for the issue is fixed in the Rs 347 to Rs 366 range. Ahead of its IPO Financial services platform KFin Technologies raised Rs 675 crore from anchor investors.
Stocks in F&O ban
Shares of IRCTC, Balrampur Chini, BHEL, GNFC, Delta Corp, Indiabulls Housing and Punjab National Bank are banned in the F&O segment today. Derivative contracts in a security are 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.
DIIs buy shares worth Rs 1,543 crore
Provisional data available with NSE suggests FPIs were net sellers of domestic stocks to the tune of Rs 1,975.44 crore on Friday. Domestic institutional investors (DIIs) were buyers of equities to the tune of Rs 1,542.50 crore.
Rupee ends flat against dollar
The rupee pared its early losses to close almost flat at 82.75 against the US currency on Friday supported by falling crude oil prices and forex inflows amid concerns over rising interest rates and inflation. The rupee touched a low of 82.89 to a dollar as heavy selling pressure in domestic equities and a strong greenback overseas weighed on the rupee sentiment.
Also read: Nifty Weekly Outlook: Trend weak, small correction likely before any recovery
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