GIFT Nifty up 20 points; here's the trading setup for today's session

Domestic equities continued their winning streak on Monday following their global peers. In the current week, investors will keep a close watch on Fed policy outcome which will likely dictate market direction.

"We expect the overall positive momentum to continue especially in the large cap while sectoral rotation is likely to be seen in the broader market," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

Here's breaking down the pre-market actions:

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded 21 points, or 0.10 per cent, at 20,187.50, signaling that Dalal Street was headed for positive start on Monday.

• Tech View: Nifty continued to exhibit strength as the index reached new highs. Strong Put writing at 20,100 has further bolstered positive sentiment in the market. The trend is expected to remain positive as long as Nifty remains above the 20,000 mark. In the short term, there is potential for Nifty to move towards the 20,480-20,500 range on the upside.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 3.67% to settle at 10.90 levels.

US stocks dip
US stocks ended sharply lower on Friday as chipmakers dropped on concerns about weak consumer demand, while rising Treasury yields pressured Amazon and other megacap growth companies.

• S&P 500 down 1.22%,
• Nasdaq dips 1.56%,
• Dow falls 0.83%

Asian shares cautious
Asian shares started cautiously on Monday in a week packed with central bank meetings that include the Federal Reserve and the Bank of Japan, which will be closely scrutinised for the global interest rate outlook.

• S&P 500 futures rose 0.2% as of 9:07 a.m. Tokyo time. The S&P 500 fell 1.2% on Friday
• Nasdaq 100 futures rose 0.2%. The Nasdaq 100 fell 1.8%
• Australia’s S&P/ASX 200 Index fell 0.1%
• Hong Kong’s Hang Seng futures fell 0.6%

Oil rises
Oil prices inched higher on Monday, buoyed by forecasts of a widening supply deficit in the fourth quarter after Saudi Arabia and Russia extended cuts and on optimism of a demand recovery in China, the world's top crude importer.
Brent crude futures rose 5 cents, or 0.1%, to $93.98 a barrel by 0027 GMT while U.S. West Texas Intermediate crude was at $90.92 a barrel, up 15 cents, or 0.2%.




Stocks in F&O ban today

1) Indiabulls Housing Finance

2) IEX

3) REC

4) Hindustan Copper

5) India Cements

6) Delta Corp

7) Manappuram

8) Chambal Fertilisers

9) Nalco

10) BHEL

11) Balrampur Chini Mills

12) ZEE

Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

FII/DII action
Foreign portfolio investors were net buyers at Rs 164 crore on Friday. DIIs too bought shares worth Rs 1938 crore.

Rupee
The rupee fell 13 paise to settle at 83.16 against the US dollar on Friday, dragged down by rising crude oil prices and a strong greenback against major rivals overseas.

F&O
The net long position of foreign portfolio investors increased from Rs 58,837 crore on Thursday to Rs 62,030 crore on Friday.