SGX Nifty down 61 points: Asian markets, crude oil prices, dollar movement, Nifty outlook & more

Domestic stock indices are likely to open lower on Tuesday, extending recent fall on weak global cues. Asian stocks tumbled in the early trade. The US market was closed overnight on account of public holiday. The dollar strengthened while crude oil remained muted in early trade. Here's what you should know before the Opening Bell:Nifty outlook Nifty is placed at the key resistance of 18,900 level. The index has been showing sustainable uptrend over the last few weeks and a few bearish patterns have not impacted the trend much, as we observe a lack of sharp selling interest in the market, said Nagaraj Shetti, Technical Research Analyst, HDFC Securities. "The immediate support of 10-day EMA is intact for the last 15 sessions and the 20-day EMA has not been violated on the down side since the past three months. The near-term uptrend status of Nifty remains intact. There is a possibility of upside bounce from the lows in the next 1-2 sessions. The immediate support is at 18,670. A strong hurdle is at 18,900 level," he said.SGX Nifty signals a negative start Nifty futures on the Singapore Exchange traded 60.50 points, or 0.32 per cent, lower at 18,814, hinting at a negative start for the domestic market on Tuesday.Asian stocks fall in early trade Asian shares declined in the early trade on Tuesday, ahead of PBOC meet where the Chinese central bank is expected to cut interest rate. The MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.57 per cent. Japan's Nikkei shed 0.11 per cent; China's Shanghai dropped 0.41 per cent; Hong Kong's Hang Seng slipped 0.87 per cent and South Korea's Kospi edged 0.30 per cent lower.Oil prices at $76 a barrel level Oil prices were mixed on Tuesday ahead of a decision on lending benchmarks by China, with the world's second-largest economy widely expected to cut key rates to shore up a slowing recovery. Brent crude was 3 cents higher at $76.12 a barrel. US West Texas Intermediate (WTI) crude was unchanged at $71.29 and there was no settlement on Monday due to a public holiday in the United States.Dollar hits 7-month high against yen

The US dollar rose broadly on Tuesday and notched a seven-month high against the yen, while the yuan slipped after China cut two benchmark lending interest rates for the first time in 10 months. Elsewhere, the US dollar edged marginally higher in cautious trade after a holiday in the United States on Monday kept market activity muted. The offshore yuan dipped slightly following the decision and was down more than 0.1 per cent at 7.1734 per dollar, while the greenback peaked at 142.26 yen in early Asia trade. The euro slipped 0.03 per cent to $1.0917, while the Sterling rose 0.05 per cent to $1.2797.Wall Street stocks to resume trade US main indices will resume trade today after closing on Monday on the account of a public holiday. The S&P500 index fell 0.36 per cent to settle at 4,409.77 on Friday. The Nasdaq Composite index declined 0.68 per cent to 13,689.57 points while the Dow Jones Industrial Average index declined 0.31 per cent to 34,301.03 points.Stocks in F&O ban Eight stocks- Hindustan Aeronautics (HAL), L&T Finance Holdings, Tata Chemicals, Zee Entertainment (ZEEL), Manappuram Finance, Delta Corp and India Cements - has been put under the ban by National Stock Exchange (NSE) for Tuesday, June 20. 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 sell shares worth Rs 1,031 crore Provisional data available with NSE suggest that FPIs were net sellers of domestic stocks to the tune of Rs 1,030.90 crore on Monday. Domestic institutional investors (DIIs) turned net sellers of Indian equities to the tune of Rs 365.20 crore.Rupee falls 4 paise against dollar The rupee depreciated by 4 paise to close at 81.94 against the US dollar on Monday amid strong American currency against major rivals overseas and a weak trend in domestic equities. However, a downward trend in crude price capped the fall in the domestic unit, forex traders said.Note: With inputs from PTI, Reuters and other agencies

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