GIFT Nifty up 100 points; here's the trading setup for today's session

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Domestic markets had a muted end to the last week on cautious sentiments among investors. In today's trade, markets will react to US employment data and fourth quarter results of Dmart and Kotak Bank.

"We expect the market to consolidate in a broader range and base to gradually shift higher," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.

Here's breaking down the pre-market actions:

STATE OF THE MARKETS

GIFT Nifty (Earlier SGX Nifty) signals a positive start

GIFT Nifty on the NSE IX traded higher by 105 points, or 0.46 per cent, at 22,686, signaling that Dalal Street was headed for positive start on Monday.



  • Tech View: Technically, the Nifty closed below the level of 22,500 which has been acting as a minor support for the last couple of days. While this is a negative development it's not something that opens a big downside, Tejas Shah of JM Financial & BlinkX said.
  • India VIX: India VIX, which is a measure of the fear in the markets, rose 8.72% to settle at 14.62 levels.

US stocks gain

 Wall Street experienced a significant uptick, buoyed by a milder-than-anticipated employment report. This strengthened the argument for potential rate cuts from the Federal Reserve, while simultaneously showcasing the resilience of the U.S. economy.

Asian shares rangebound

Asian equity benchmarks are little changed in early trade as traders await the reopening of China from a long holiday break. Mainland markets look poised to gain as Beijing's supportive policy stance adds impetus to a budding bullish momentum.

  • S&P 500 futures were little changed as of 9:30 a.m. Tokyo time
  • Hang Seng futures rose 0.6% s
  • Australia's S&P/ASX 200 rose 0.4%
  • Euro Stoxx 50 futures rose 0.3%

Dollar steady

The dollar was broadly steady on Monday as a soft U.S. jobs report boosted wagers that the Federal Reserve may still cut rates twice this year, while the yen was a tad weaker to start the week.

Stocks in F&O ban today



1) Vodafone Idea

2) Biocon

3) ABFRL

4) Balrampur Chini Mills

5) GMR Infra

Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit

FII/DII action

Foreign portfolio investors were net sellers at Rs 2,391 crore on Friday. Meanwhile, DIIs bought shares worth Rs 690 crore.

Rupee

The rupee inched up 1 paisa to settle at 83.45 against the US dollar on Friday, tracking a weak American currency and sliding crude oil prices in global markets

FII data

The net long of FIIs turned from Rs 25,615 crore on Thursday to net short of Rs 46,719 crore.

Q4 results

Godrej Consumer, Lupin, Indian Bank, Marico among others will announce their fourth quarter earnings on Monday.