GIFT Nifty up 7 points: Asian markets, crude oil prices, primary markets action, Nifty outlook & more

Domestic stock indices are likely to open on a muted note on Monday amid mixed global cues. US stocks settled with mild gains overnight ahead of trading holiday today. Asian stocks too were subdued in early trading hours. Back home, investors would react to business updates by India Inc on June quarter. HMA Agro will make its market debut today. Senco Gold's IPO, on the other hand, will open for public subscription later today. Here's what you should know before the Opening Bell:

Nifty outlook
Nifty continues its upward movement with the bulls at the helm, despite selling pressure at higher levels. The trend remains bullish as the index sustained above a critical moving average, said Rupak De, Senior Technical analyst at LKP Securities.

"The current bullish trend is supported by a bullish crossover in the RSI momentum indicator. The support on the lower end is placed at 19,200. The resistance is visible in the 19,450-19,500 zone," he said.

GIFT Nifty signals a flat start
Nifty futures on the Nifty International Exchange traded 7 points, or 0.04 per cent, higher at 19,446., hinting at a flattish start for the domestic market on Tuesday.

Asian stocks open mixed
Asian shares opened mixed on Tuesday as the key macroeconomic numbers from a host of Asia-Pacific countries took center stage ahead of the US holiday today. The MSCI's broadest index of Asia-Pacific shares outside Japan was up only 0.06 per cent. Japan's Nikkei tanked 1.06 per cent; Australia's ASX 200 added 0.05 per cent; New Zealand's DJ gained 0.04 per cent; China's Shanghai shed 0.04 per cent; Hong Kong's Hang Seng rose 0.40 per cent and South Korea's Kospi eased 0.34 per cent.

Brent oil price nears $75 a barrel
Oil prices held steady on Tuesday as markets weighed supply woes from cuts for August by top exporters Saudi Arabia and Russia against economic data that hinted at weak crude demand. Brent crude futures were up 22 cents, or 0.3 per cent, at $74.87 a barrel by 0033 GMT. US West Texas Intermediate crude was at $70.06, up 27 cents, or 0.3 per cent.

Wall Street stocks settles higher
Wall Street's main indices ended with slim gains in a holiday-shortened session on Monday, helped by a surge in Tesla and strength in bank shares as the second half of the year kicked off on a subdued note. Tesla shares jumped 6.9 per cent as the electric vehicle maker said it delivered a record number of vehicles in the second quarter. The Dow Jones Industrial Average rose 10.87 points, or 0.03 per cent, to 34,418.47; the S&P 500 gained 5.21 points, or 0.12 per cent, at 4,455.59; and the Nasdaq Composite added 28.85 points, or 0.21 per cent, at 13,816.77.

HMA Agro to make market debut
Shares of HMA Agro Industries will make their debut at Dalal Street on Tuesday. The meat exporter raised Rs 480 crore from its initial stake sale by selling its shares for Rs 585 apiece between June 20-23. The issue was overall subscribed 1.62 times and the shares were commanding a premium of Rs 40-45 apiece in the grey market ahead of its listing.

Senco Gold IPO to open for subscription
The initial public offering (IPO) of Senco Gold is set to kick off for subscription on Tuesday, July 04. The company is set to sell its shares in the range of Rs 301-317 apiece with a lot size of 47 equity shares to raise Rs Rs 405 crore through primary route. The issue will be closed for subscription on Thursday, July 6.

Stocks in F&O ban
One stock - Indiabulls Housing Finance- has been put under the F&O segment ban by the National Stock Exchange (NSE) for Tuesday, July 4. 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 1,996 crore
Provisional data available with NSE suggest that FPIs turned net buyers of domestic stocks to the tune of Rs 1,995.92 crore on Monday. However, domestic institutional investors (DIIs) turned net sellers of Indian equities to the tune of Rs 337.80 crore.

Rupee slips 19 paise against dollar
 The rupee appreciated by 19 paise to close at 81.91 against the US dollar on Monday, as sustained foreign fund inflows and a bullish trend in domestic equities strengthened investor sentiments. At the interbank foreign exchange market, the local unit opened at 82.01 against the US dollar and settled at 81.91, up 19 paise over its previous close amid a rally in domestic equities, wherein benchmark indices witnessed record high levels.


Note: With inputs from PTI, Reuters and other agencies

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