NEW DELHI: Nifty futures in Singapore are indicating a gap-up start for Dalal Street, as ‘candid and constructive’ trade talks between US and China in Beijing lifted investor mood and pushed Asian markets higher early Monday.

Let’s check out what may move market all through the day:

TRADE SETUP

• Singapore trading sets stage for gap-up start
  Nifty futures on the Singapore Exchange were trading 54.50 points, or 0.47 per cent, higher at 11,730, indicating a gap-up start for the Nifty50.
  

• Tech view: Nifty forms Pin Bar candle
  Analysts see signs of caution but said Friday’s session failed to give any clear sell signal. Monday’s move is expected to be crucial for determining further course of action, said Gaurav Ratnaparkhi at Sharekhan. Friday’s low of 11,570 becomes a key level to watch out for, he said.

• Embassy REIT to debut today
  Embassy Office Parks, which raised raise around Rs 4,750 crore in India’s first ever REIT offering, would list on bourses on Monday. The issue was subscribed 2.57 times. The REIT includes Embassy Group properties and is a joint venture between the Bengaluru-based property developer and PE firm Blackstone.

• Oil prices jump on supply concerns
  Oil prices rose on Monday, adding to gains in the first quarter when the major benchmarks posted their biggest increases in nearly a decade, as concerns about supplies outweigh fears of a slowing global economy. Brent crude for June delivery was up by 34 cents, or 0.5 per cent, at $67.92 a barrel.

• DIIs buy Rs 1,724 crore worth of equities
  Foreign portfolio investors (FPIs) sold Rs 86 crore worth of domestic stocks on Friday, data available with NSE suggested. DIIs were net buyers to the tune of Rs 1,724 crore, data suggested.

MONEY MARKETS

• Rupee up: The rupee appreciated by 16 paise Friday to close at 69.14 against the US dollar on persistent foreign fund inflows and heavy buying in domestic equities.

• Bond market: 10-yr bond yields down: India 10-year bonds' yields rose 0.02% to 7.35% on Friday from 7.33% over the previous trading session, according to RBI data.

• Call rate: The overnight call money rate weighted average was 6.24% on Friday, according to RBI data. It moved in a range of 4.80-6.40%.

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MACROS

• Economists, analysts vote for 25bps rate cut
  RBI is likely to reduce the cost of money for the second time in as many months as mounting concerns over a global economic slowdown, particularly in the US, and its impact on the emerging markets make investors rather wary of fresh investments into capital assets. According to an ET survey of 26 market participants, an overwhelming majority expect a quarter percentage point reduction in the repo, when the central bank concludes its monetary policy review on Thursday.

• MSCI defers move to exclude GDR, ADR shares
  In a big relief to the Indian markets, MSCI has deferred its decision to exclude the shares being offered through Global and American Depository Receipts (GDRs, ADRs) while calculating foreign ownership limits (FOL), the measures that could have led over $1 billion outflow of overseas funds from India. Hectic negotiations between Indian government officials and MSCI have led the global index provider to postpone its decision, according to people in the know.

• China manufacturing returns to growth in March
  China’s manufacturing sector unexpectedly returned to growth for the first time in four months in March, in a sign that government stimulus measures may be slowly gaining traction, a private business survey showed on Monday. But growth in new domestic and exports orders was marginal, suggesting the economy will remain under pressure in coming months and will likely require more policy support before it can convincingly stabilize.

• Trade deficit pushes CAD to 2.5% of GDP in Q3
  The country's current account deficit widened to 2.5% of GDP in the third quarter of the current fiscal from 2.1% a year ago, primarily on account of a higher trade deficit though the foreign exchange reserves continued to soar. The central government's fiscal deficit had crossed 134% of the whole year of the revised budget estimates (RE) at February-end.

• Tax refund for exports to US likely
  The government is considering a scheme to refund taxes imposed on India’s exports to the US that will suffer loss of competitiveness once the concessional duties enjoyed under GSP are withdrawn. A Rebate of State Levies (ROSL) kind of scheme, which would refund unrebated taxes that are included in the price of goods, would incentivise exporters and ensure India’s shipments do not drop. The unrebated taxes would be refunded through the drawback route.