GIFT Nifty down 23 points: Asian markets, crude oil prices, dollar movement, Nifty outlook & more

Domestic equity indices are likely to kick off the week on a weak note on Monday amid mixed global cues. Asian stocks opened mostly higher ahead of key economic data from China. US stocks settled with losses on Friday. Back home, traders are keenly awaiting the Q1 numbers of India Inc. Cyient DLM will make its Dalal Street debut today. Here's what you should know before the Opening Bell:Nifty outlook Nifty fell on Friday and formed a Shooting Star-like candle on the daily chart, which is considered to be a bearish reversal signal. The bears have strengthened their position at the 19,500-strike. It will act as a strong resistance for Nifty. The downside support for Nifty is placed at 19,300, said Ashwin Ramani, Derivatives & Technical Analyst, SAMCO Securities.GIFT Nifty signals a negative start Nifty futures on the Nifty International Exchange traded 23 points, or 0.12 per cent, lower at 19,435, hinting at a negative start for the domestic market on Monday.Asian stocks trade mostly higher Asian stocks were off to a strong start on Monday ahead of key economic data releases showing whether China is starting to emerge from its post-lockdown weakness. The MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.67 per cent. Japan's Nikkei dropped 0.64 per cent; China's Shanghai gained 0.44 per cent; Hong Kong's Hang Seng surged 1.46 per cent and South Korea's Kospi rose 0.32 per cent.Oil prices ease ahead of key data Oil prices dipped in early Asian trade on Monday as investors tread cautiously ahead of fresh economic data from top consumers the United States and China this week, while expected crude supply cuts from Saudi Arabia and Russia supported the market. Brent crude futures fell 22 cents, or 0.3 per cent, to $78.25 a barrel and US West Texas Intermediate crude was at $73.57 a barrel, down 29 cents, or 0.4 per cent.Dollar softens ahead of China data The dollar was on the back foot on Monday after a miss in US jobs data scaled back market expectations on how much further the Federal Reserve would need to raise rates, while focus in the Asia day was on China's inflation data release. The US dollar index rose 0.09 per cent to 102.38. The Japanese yen last bought 142.30 per dollar in early Asia trade on Monday, while the British pound last traded $1.2829. The euro dipped marginally to $1.0958.US stocks ends lower Wall Street's main indices ended lower on Friday in a seesaw session, as investors digested a US jobs report that showed weaker-than-expected growth and awaited more economic data and corporate earnings in the weeks ahead. On Friday, the Dow Jones Industrial Average fell 187.38 points, or 0.55 per cent, to 33,734.88, the S&P 500 lost 12.64 points, or 0.29 per cent, to 4,398.95 and the Nasdaq Composite dropped 18.33 points, or 0.13 per cent, to 13,660.72.Cyient DLM shares to list today Shares of Cyient DLM will be listed at Dalal Street on Friday after the company raised Rs 592-crore from its IPO by sellings shares at Rs 265, which received a bumper response from the investors during the four-day bidding process between June 27-30, fetching an overall subscribed 71.35 times.Stocks in F&O ban Four stocks stocks - Granules India, Delta Corp, India Cements and Bharat Heavy Electricals (BHEL) - have been put under the F&O segment ban by the National Stock Exchange (NSE) for Monday, July 10. Derivative contracts in a security are banned when they cross 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 790 crore Provisional data available with NSE suggest that FPIs turned net buyers of domestic stocks to the tune of Rs 790.40 crore on Friday. However, domestic institutional investors (DIIs) turned net sellers of Indian equities to the tune of Rs 2,964.23 crore. Overseas investors have pumped in Rs 21,944 crore in the domestic equities in the month of July so far.Rupee close flat against dollar The rupee pared early losses to close almost flat at 82.61 against the US dollar on Friday as the greenback retreated from the day's high after fresh data suggested the US labour market may be cooling off due to high interest rates. Continued foreign fund inflows into equities also helped the rupee recover from early losses, analysts said. Note: With inputs from PTI, Reuters and other agencies

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