From Wall Street action to China lockdown protests, 12 triggers that could impact market movement on Tuesday
Investors must watch out for Singapore-based SGX Nifty futures on Tuesday which are an early indicator of movement in Nifty50 along with Dow 30 futures. At the time of filing of the story, SGX Nifty futures were trading at 18,709.50, down 19.50 points or 0.10%. Dow Futures were trading at 34,151.50, down 195.50 points or 0.57%
Domestic stock markets ended Monday on a high, registering five straight sessions of positive closing. Unfazed by the losses witnessed by their Asia peers, Indian frontline indices went on to create new records. Nifty50 scaled a new lifetime high of 18,614.25, bettering its previous record of 18,604 on the intraday basis and finally settling at 18,562.75, up 50 points or 0.27 per cent. The S&P BSE Sensex also hit yet another lifetime high of 62701.4. The 30-stock index closed at 62,504.80, higher by 211.16 points or 0.34 per cent. When markets reopen tomorrow, there will be local and global triggers that will impact the movement. We have collated 12 things to watch out for. Here is a list!
1) US Markets: Wall Street's closing on Monday will be a key trigger. The markets opened today after a truncted last week and were trading in the red. Dow 30 was trading at 34,172.90, down 174.18 or0.51 per cent while S&P 500 was trading at 3,995.67 down 30.45 points or 0.76 per cent. Nasdaq Composite was trading at 11,147.60, down 78.79 points 0.70 per cent. The negative opening was on account of China unrest. Apple shares fell.
8) Nifty, Bank Nifty - key Support and Resistance Levels - Market Expert Anuj Gupta of IIFL Securities sees support for Nifty Futures at 18480-18300 while resistance at 18820-18980. As for Bank Nifty, support is seen at Rs 42900-42300 while resistance is seen at 43800-44300.
9) IPO Watch: It will be Day 2 for Dharmaj Crop Guard IPO. The issue was overall subscribed 0.79 times on the NSE as per data available on NSE. The retail portion was subscribed 1.37 times.
10) Commodity Markets: Pressure was seen in commodity markets as well with Crude prices nearing a low point for the year partially due to unrest in China. They have fallen for three consecutive weeks, PTI reported. Precious metals like Gold and silver were trading weak on Comex and MCX.
11) Stocks in Ban: Three stocks are in Ban - Indiabulls Housing Finance, BHEL and Delta Corp.
12) Media reports suggesting correction in Bitcoin prices following disruptions in China have also emerged.
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
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