SGX Nifty down 87 points: Asian stocks mixed, dollar rises; Angel One, Just Dial Q4 earnings & more

After an extended weekend, domestic equity markets are likely to kick off the new week on a negative note, tracking weak cues from global peers. Asian markets opened with caution in the early trade, while US stocks settled lower on Friday. Expectations of the aggressive US Fed is hurting investor sentiment. Back home, traders will react to Q4 earnings of two index heavyweights Infosys and HDFC Bank. Here's what you should know before the Opening Bell:

Nifty consolidation likely
Nifty continued with positive momentum and closed with gains for the ninth consecutive trading session on Thursday. On the technical charts, Nifty witnessed an intraday dip but 17,750-17,720, where 20-hour moving average lies, absorbed the selling pressure and restricted further slide.

"The weekly momentum indicator has triggered a fresh positive crossover which is a buy signal. On a higher time, frame chart structure has turned in favour of the bulls. Considering the sharp run up in the previous nine trading sessions, a consolidation is highly probable. It should be considered as a buying opportunity,” , said Jatin Gedia, Technical Research Analyst, Sharekhan.

SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 87 points, or 0.49 per cent, lower at 17,784, hinting at a negative start for the domestic market on Monday.

Asian shares opened cautiously
Asian stocks opened cautiously on Monday, as the US earnings season gets into full swing, while a raft of Chinese data will offer insight into how the world's second-largest economy is recovering. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.33 per cent. Japan's Nikkei shed 0.11 per cent; China's Shanghai Composite retreated 0.07 per cent; Hong Kong's Hang Seng shed 0.63 per cent and Korea's Kospi eased 0.17 per cent.

Oil prices edged higher
Oil prices edged up on Monday, supported by OPEC+'s plans to cut more output, while investors eyed Chinese economic data for signs of a demand recovery by the world's number two oil consumer. Brent crude futures nudged 17 cents higher to $86.48 a barrel, while US West Texas Intermediate crude was at $82.66 a barrel, up 14 cents.

Dollar rebounds over aggressive Fed
The dollar bounced from a one-year low on Monday as resilience in core US retail sales, a rise in short-term inflation expectations and impressive Wall Street bank earnings raised market expectations for an interest rate hike in May. The US dollar index rose 0.15 per cent to 101.82, standing some distance away from Friday's one-year low of 100.78. The euro fell 0.2 per cent to $1.0965, while sterling slipped 0.22 per cent to $1.2387. In other currencies, the dollar rose 0.16 per cent against the Japanese yen to 133.96.

US stocks settle lower
Wall Street ended lower on Friday as a barrage of mixed economic data appeared to affirm another Federal Reserve interest rate hike, dampening investor enthusiasm after a series of big US bank earnings launched first-quarter reporting season. The Dow Jones Industrial Average fell 143.22 points, or 0.42 per cent, to 33,886.47; the S&P 500 lost 8.58 points, or 0.21 per cent, at 4,137.64; and the Nasdaq Composite dropped 42.81 points, or 0.35 per cent, to 12,123.47.

Q4 earnings today
Angel One, Network 18 Media & Investments, Just Dial, TV18 Broadcast, Hathway Cable & Datacom, Quick Heal Technologies, Morganite Crucible (India) and Kintech Renewables are among the companies that will announce their earnings for the March 2023 quarter.

Stocks in F&O ban
Two stocks- Delta Corp and Balrampur Chini Mills- continue to be put under F&O ban by National Stock Exchange (NSE) for Monday, April 17. Derivative contracts in a security are banned when it crosses 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 222 crore
Provisional data available with NSE suggests FPIs turned net buyers of domestic stocks to the tune of Rs 221.85 crore on Thursday. Domestic institutional investors (DIIs) were net sellers of equities to the tune of Rs 273.68 crore.

Rupee rises  26 paise against dollar
The rupee appreciated 26 paise to close at 81.85 against the US dollar on Thursday, supported by a weak greenback in the overseas markets and unabated foreign fund inflows. At the interbank foreign exchange market, the local unit opened at 81.99 against the US currency and finally closed at 81.85 against the greenback, registering a gain of 26 paise over its previous close.


Note: With inputs from PTI, Reuters and other agencies

Also read: Bajaj Finance, HDFC, Mahindra Finance: How should you trade these NBFC stocks?

Also read: Infosys shares brace for selloff post soft Q4 results, guidance. Here're revised price targets