SGX Nifty down 22 points: Asian markets, dollar movement, Q3 earnings, FPI flows & more

Domestic stock indices are likely to see a muted start to Tuesday’s trade, tracking mixed cues from global markets. Asian stocks were mixed in early trades while US stocks settled little changed overnight. Investors will react to TCS Q3 earnings today, with the focus shifting to the ongoing earnings season. Here's what you should know before the opening bell:

Nifty outlook

Nifty had on Friday moved towards low seen in the last couple of weeks. It had fallen towards the 20-week moving average, a daily lower Bollinger Band and the 50 per cent retracement of the September-December 2022 rally, said Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas.
 
Now "It can go on till 18,200-18,260 on the higher side. The level of 18,000 will act as an immediate support. The overall structure for the last few sessions shows that the sharp moves in both the directions are part of the short term consolidation process," he said.

SGX Nifty signals a tepid start

Nifty futures on the Singapore Exchange quoted 22.5 points, or 0.12 per cent, lower at 18,150.50, hinting at a muted start for the domestic market on Tuesday.

Asian shares mixed in early trade

Asian stocks were mixed Tuesday after a US rally fizzled out, as Federal Reserve officials signalled the central bank will likely need to raise interest rates above 5 per cent, before pausing for some time. Japan's Nikkei gained 0.95 per cent, per cent; Australia's ASX 200 fell 0.23 per cent; New Zealand's DJ was up 0.06 per cent; Hong Kong's Hang Seng shed 0.08; Seoul's Kospi rose 0.64 per cent; and China's Shanghai Composite edged 0.14 per cent higher.

Oil prices stay steady

Oil prices were little changed on Tuesday, giving up some of the gains from the previous session, as traders awaited clarity on the Federal Reserve's plans for rate hikes to gauge the impact on the economy and fuel demand. Brent futures for March delivery fell 16 cents to $79.49 a barrel, a 0.2 per cent drop, by 1:15 GMT. US crude fell 5 cents, or 0.07 per cent, to $74.58 per barrel.

Dollar languishes against major currencies

The US dollar languished near a seven-month low against other major currencies on Tuesday, as investors took heart that the Federal Reserve may be nearing the end of its rate-hike cycle and as China's reopening drove demand for riskier assets. The US dollar index edged 0.04 per cent higher to 103.21 The euro was last 0.04 per cent lower at $1.0728, while Sterling slipped 0.03 per cent to $1.2177. The offshore yuan last bought 6.7757 per dollar and the Japanese yen rose 0.1 per cent to 131.73 per dollar.

Wall Street stocks settled mixed

US stocks were mixed Monday at the start of a week with a few events that could shake markets, including updates on inflation and the health of corporate profits. Dow Jones Industrial Average index declined 112.96 points, or 0.34 per cent, to 33,517.65; S&P500 index shed 2.99 points, or 0.08 per cent, at 3,892.09; and the Nasdaq Composite index gained 66.36 points, or 0.63 per cent, to 10,635.65.

Q3 earnings today

Quest Capital Markets, Shradha Infraprojects, Excel Realty & Infra, Visagar Financial Services and Gala Global Products are among the companies that will announced their results for the December 2022 quarter.

Stocks in F&O ban

Two stocks - GNFC and Indiabulls Housing Finance- have been added by National Stock Exchange (NSE) under F&O ban for Tuesday, January 10. 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.

FPIs sell shares worth Rs 203 crore

Provisional data available with NSE suggests FPIs were net sellers of domestic stocks to the tune of Rs 203.13 crore on Monday. Domestic institutional investors (DIIs) were buyers of equities to the tune of Rs 1,723.79 crore.

Rupee slips 4 paise against dollar

The rupee gained 31 paise to close at 82.35 against the US dollar on Monday, supported by a weaker greenback overseas and a firm trend in domestic equities. At the interbank foreign exchange market, the local unit opened at 82.41 and touched an intra-day high of 82.25 and a low of 82.44 against the greenback.

Note: With inputs from PTI, Reuters and other agencies

Also read: S&P 500 near flat on chances of less aggressive rate hikes; Tesla shares up over 5%

Also read: Sensex, Nifty trade setup: 10 things you should know ahead of Tuesday's session