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Nifty likely to see rangebound trading amid lack of directional cues

Nifty likely to see rangebound trading amid lack of directional cues

A majority of Asia-Pacific stock markets, including Japan, China, South Korea, Australia, Hong Kong and Taiwan were shut on Monday on the account of New Year

FPIs were net sellers of domestic stocks to the tune of Rs 2,950.89 crore on Friday. Domestic institutional investors (DIIs) were buyers of equities to the tune of Rs 2,266.20 crore FPIs were net sellers of domestic stocks to the tune of Rs 2,950.89 crore on Friday. Domestic institutional investors (DIIs) were buyers of equities to the tune of Rs 2,266.20 crore

Benchmark indices are likely to see an indecisive start to the New Year amid a lack of directional cues from Asian markets. Key stock, currencies and commodity markets are shut today on account of New Year holiday. For Nifty, 18,000 is seen as a key support while the resistance for the index is seen at 18,400 level. Here's what you should know before the Opening Bell:Nifty outlook

Post the recent price-wise correction in the market, the chart structure construes optimism, and it is highly anticipated to continue the cheerful run in the new calendar year. The broad-based buying in the last week has levitated market sentiments and can be seen as a sign of progression as we outclass our major global peers, Sameet Chavan from Angel One. "As far as levels are concerned, 18,000 is expected to cushion any short-term blip, with the sacrosanct support placed around 17,800 for the time being. While on the higher end, a decisive move above 18,400-18,450 would affirm the continuation of the uptrend in the market," he said.Most Asian markets shut today

A majority of Asia-Pacific stock markets, including Japan, China, South Korea, Australia, Hong Kong and Taiwan were shut on Monday on the account of New Year. The ones that were opened including Indonesian market were trading marginally higher in early trading hours. Major European and US markets will also remain shut on Monday, observing the new year holiday.Wall Street stocks settle lower

US stocks, closing out 2022 lower on Friday, capping a year of sharp losses driven by aggressive interest rate hikes to curb inflation, recession fears, the Russia-Ukraine war and rising concerns over Covid cases in China. Wall Street's three main indexes booked their first yearly drop since 2018. Dow Jones shed 73.55 points, or 0.22 per cent, to 33,147.25; S&P500 index lost 10 points, or 0.25 per cent, to 3,839.50; and the Nasdaq Composite index dropped 11.6 points, or 0.11 per cent, to 10,466.48.Stocks in F&O ban

Since it is the beginning of the new series, no shares are banned in the F&O segment for the first trading session of 2023, that is, January 2, 2023. 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.DIIs buy shares worth Rs 2,266 crore

Provisional data available with NSE suggests FPIs were net sellers of domestic stocks to the tune of Rs 2,950.89 crore on Friday. Domestic institutional investors (DIIs) were buyers of equities to the tune of Rs 2,266.20 crore. Foreign investors pumped in Rs 11,119 crore in the Indian equities in December, making it the second consecutive monthly inflow, despite increasing concerns over the re-emergence of Covid-19 cases in some parts of the world.Rupee rises 26 paise against dollar

The rupee spurted 26 paise to close at 82.61 against the dollar on the last trading session of 2022 on Friday. The greenback retreated from its elevated levels and a rising appetite for riskier assets among investors. The local currency, however, ended the year on a negative note, with a loss of Rs 8.32 or 11.2 per cent, primarily led by a strong dollar against its major crosses overseas, as reported by the PTI.

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Published on: Jan 02, 2023, 8:44 AM IST
Posted by: Priya Raghuvanshi, Jan 02, 2023, 8:41 AM IST