What changed your market overnight while you were sleeping

Ahead of the monsoon session of Parliament today, macros like Chinese GDP numbers and domestic trade data are all set to steer market sentiment.

Let's check out in details what might matter to the Dalal Street on Monday:

Singapore trading sets stage for positive opening
At 7.50 am, Nifty50 futures on the Singapore Stock Exchange were trading 34.50 points higher at 9,938, indicating a positive opening for the domestic market.

Nifty made Hanging Man pattern on daily chart
The index on Friday formed a pattern similar to ‘Hanging Man’ on the daily suggesting exhaustion of the ongoing momentum. “The intraday recovery on Friday shall not be read as a positive sign, as it resulted in a Hanging Man kind of formation, which is usually seen around the short term tops. Besides technical parameters on lower time frame charts are getting skewed in favour of bears,” said Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory at Chartviewindia.in.

Monsoon session kicks off today
After a big bang GST rollout, reform process is back in focus with the monsoon session of Parliment kickstarting on Monday. The session will see a total of 19 sittings spread over a span of 26 days including four Private Members’ days. A total of 21 Bills pending in Lok Sabha and 42 Bills pending in Rajya Sabha will be in focus.

17 firms to report Q1 results
The day will see 17 BSE listed companies to report June quarter results on Monday. Among them would be cement maker ACC and the master franchise for Domino's Pizza and Dunkin' Donuts in India, Jubilant FooodWorks. Prakash Industries, AGN Industries, Cochin Minerals and Sharda Motor Industries would also report earnings later in the day.

Rupee strength weighed on exports
Exports grew 4.39 per cent to $23.5 billion, while imports rose faster at 19 per cent to $36.5 billion, data from the commerce department showed, leaving a trade gap of about $12.9 billion in June, compared with $8.1 billion in the year-earlier period and $13.84 billion in May. "It appears that INR strength is weighing on external trade. After all, exports of other EMs such as South Korea and China have held up even as India’s exports slowed," Edelweiss Securities said in a note.

Big consolidation in PSU banks on cards
The government is working on a consolidation agenda with a view to creating 3-4 global-sized banks and reduce the number of state-owned lenders to about 12, an official said. The 21 public sector banks would get consolidated to 10- 12 in the medium term, the official said.

GMR in talks with ADIA
GMR Infrastructure is in advanced talks with sovereign wealth fund Abu Dhabi Investment Authority (ADIA) to sell a stake of up to 49 per cent stake in Hyderabad International Airport, multiple sources told ET. The Bengaluru-based infrastructure developer is looking to sell non-core assets to lighten its debt burden. If the transaction goes ahead, the airport entity will be valued at Rs 5,000 crore.

Inox Wind challenges NCLT's order
Wind energy solutions provider Inox Wind (IWL) is challenging the NCLT’s Chandigarh bench order on insolvency, claiming it is solvent and in "excellent" financial health. NCLT passed an order on July 5, clearing way for the insolvency of the company after an 'operational creditor' Jeena and Co moved a petition for the same citing non-payment for services it provided to Inox Wind for clearance of import shipments to Nhawa Sheva, Mumbai.

Japan market shut, China GDP drag/lift sentiment
Most Asian markets were up in early trade on Monday. Japan's Nikkei rose 0.1 per cent. Australian shares were 0.1 per cent lower, while South Korea's Kospi .KS11 jumped 0.5 per cent. On Friday, the Dow Jones Industrial Average index closed 84.65 points, or 0.39 per cent, higher at 21,637.74, the S&P500 index added 11.44 points, or 0.47 per cent, to 2,459.27, while the Nasdaq Composite index gained 38.03 points, or 0.61 percent, to 6,312.47.