Important Information for July 18 Stock Trading Strategy

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Benchmarks are expected to open in the green on Monday as trends on SGX Nifty point to a positive start for the broader index in India, with a gain of 164 points or 1.02%.

Nifty futures were trading around the 15,909 level on the Singapore Stock Exchange at 7:30 a.m. IST.

India’s benchmarks broke a four-day losing streak to end on a positive note on July 15, supported by buying in the automotive, capital goods and consumer packaged goods names.

The BSE Sensex climbed 345 points to 53,761, while the Nifty50 rose more than 100 points to 16,049 and formed a hammer pattern on the daily charts, commonly referred to as a trend reversal pattern.

The broader space also followed suit, with the Nifty Midcap 100 index up 0.77% and the Smallcap 100 index up 0.34%. About 1,031 shares advanced, versus 892 shares down on the NSE.

Here are the key things to know before the market opens on Monday:

Wall Street ended higher on Friday:

U.S. stocks closed sharply higher on Friday, ending several days of selloffs with a rebound fueled by upbeat earnings, strong economic data and easing fears of a bigger-than-expected interest rate hike. the Federal Reserve.

All three major U.S. equity indices posted strong gains, with financials leading the charge in the wake of Citigroup Inc.’s beaten earnings. That reversed Thursday’s selloff, driven by pessimistic forecasts from rivals JPMorgan Chase and Morgan Stanley.

The S&P 500 and Dow Jones both posted five-day losing streaks, and all three indexes finished below last Friday’s close.

The Dow Jones Industrial Average rose 658.09 points, or 2.15%, to 31,288.26, the S&P 500 gained 72.78 points, or 1.92%, to 3,863.16 and the Nasdaq Composite added 201.24 points, or 1.79%, to 11,452.42.

Asian markets morning signals

In Monday’s morning session, the Japanese Nikkei is up 0.54%, Hong King’s Hang Seng is down 2.19% while China’s Shanghai is up 0.22%.

FII DII Data

Foreign Institutional Investors (FII) sold Rs 1649.36 crore worth of shares, while Domestic Institutional Investors (DII) bought Rs 1059.46 crore worth of shares on July 15, according to provisional data available. on the NSE.

crude oil price

Oil prices fell $1 in early Asian trading on Monday, paring gains from Friday, as attention turned to rising COVID-19 cases in China and the prospect of lockdowns reducing fuel demand again in the world’s largest oil-importing country.

US West Texas Intermediate (WTI) crude futures CLc1 for August delivery fell $1.54, or 1.6%, to $96.05 a barrel at 00:55 GMT, after climbing by 1.9% Friday.

Rupee on Friday

The rupee recovered 8 paise to settle at 79.91 against the US currency on Friday, following heavy buying of domestic equities and weak greenback overseas. In addition, new inflows of foreign capital also supported the local unit, traders said.

In the interbank forex market, the local currency opened at 79.95 and saw an intraday high of 79.82 and a low of 79.96 against the US Dollar in day trade.

Actions to watch on Monday

YES Bank: The bank has reached an agreement with JC Flowers to set up an asset construction company (ARC), to which the private sector lender will sell Rs 48,000 crore of bad debt inherited via the Swiss challenge method to become a ‘zero-NPA’ bank.

Tata Steel: Tata Steel has planned capital expenditure (capex) of Rs 12,000 crore on its operations in India and Europe in the current financial year.

HDFC Bank: HDFC Bank reported a 19% year-on-year rise in its standalone net profit to Rs 9,196 crore in Q1FY23, after providing Rs 2,984 crore for taxation. The bank’s net interest income increased by 14.5% to Rs 19,481.4 crore.

Vedanta: Vedanta is seeking shareholder approval for related party transactions worth Rs 8,661 crore in the current financial year. The company said these transactions are necessary to achieve synergies and economies of scale, and have been assessed by an independent appraiser.

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