MARKETS LIVE: Earnings\, F&O expiry to guide markets this week

MARKETS LIVE: Earnings, F&O expiry to guide markets this week

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SI Reporter  |  New Delhi 

Oil check Oil prices were stable on Monday, supported by supply concerns ahead of the start of US sanctions against Iran’s crude exports, but held back by rising drilling activity in the United States.   Front-month Brent crude oil futures were trading at $79.74 a barrel, 4 cents below their last close at the end of last week. US West Texas Intermediate (WTI) crude futures were at $69.07 a barrel, 5 cents below their last settlement. Rupee jumps 29 paise against US dollar to 73.32   The rupee recovered early losses and finally settled 29 paise higher at 73.32 against the US dollar on Friday, amid a weakening greenback. SGX Nifty   Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a loss of 11.5 points or 0.11 per cent. Nifty futures were trading around 10,313- level on the Singaporean Exchange. Asian markets Asian share markets pared early losses on Monday as Chinese stocks swung higher for a second session and helped offset geopolitical concerns over Saudi Arabia, Italy and Brexit.   MSCI’s broadest index of Asia-Pacific shares outside Japan turned around to edge up 0.2 per cent. Japan’s Nikkei was off 0.2 per cent, after being down over 1 per cent earlier, as were South Korean stocks. S&P falls on interest rate, trade concerns   The US benchmark S&P 500 stock index edged lower on Friday as strong earnings from Procter & Gamble Co were offset by ongoing concerns about rising interest rates and tensions over trade policy denting economic growth. Shares of Procter & Gamble jumped 8.8 per cent after the consumer goods company reported a surprise rise in first-quarter sales. The climb in Procter & Gamble shares lifted the Dow and helped advance the S&P 500 consumer staples index 2.3 per cent.   The Dow Jones Industrial Average rose 64.89 points, or 0.26 per cent, to 25,444.34, the S&P 500 lost 1 point, or 0.04 per cent, to 2,767.78 and the Nasdaq Composite dropped 36.11 points, or 0.48 per cent, to 7,449.03. Good morning! Welcome to market live blog. Catch all the market action here

Trading in the stock market to be guided by the ongoing quarterly earnings season, with some blue-chips like Wipro and Bharti Airtel scheduled to announce their results ahead of F&O expiry.

Key factors such as movement of the rupee and crude oil prices would also be keenly watched for further cues.

Meanwhile, rupee settled 29 paise higher at 73.32 against the US dollar on Friday, amid a weakening greenback.

ICICI Bank, Asian Paints, Maruti Suzuki, HCL Technologies, Dr Reddy's Labs, Bajaj Finance, Bajaj Finserv, Bharti Infratel, Bajaj Auto, Kotak Mahindra Bank, Yes Bank, UPL and ITC are among the other companies slated to announce their quarterly numbers this week.

Nifty fell 1.6 per cent during the previous week to end tad above 10,300 levels on October 19.

The fall was caused by sell-off in the later part of the week due to liquidity and asset quality concerns in non-banking financial companies (NBFCs), weak global cues on growth worries, mixed corporate earnings and consistent outflow from foreign institutional investors (FIIs). But stability in crude oil prices and the rupee led support to the market.

GLOBAL MARKETS

Asian share markets fell anew on Monday as investors braced for the peak of the U.S. earnings season while angst over Saudi Arabia, Italy and Brexit kept geopolitics front and center. Adding to the air of nervousness was an early 0.4 percent drop in E-Mini futures for the S&P 500, while safe haven Treasuries caught a bid.

MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.25 percent. Japan’s Nikkei slipped 1.0 percent and South Korea stocks lost 0.7 percent.

This week is the peak period of the U.S. earnings season and companies reporting include Amazon, Alphabet, Microsoft and Caterpillar.

(with Reuters inputs)
First Published: Mon, October 22 2018. 08:06 IST