Indian share market place is most likely to start out on a tepid note on Monday, just after posting a 2 per cent fall in the preceding week. On Friday, NSE’s Nifty rose 186.15 points or 1.28 per cent to 14,744 though the Sensex rallied by 641.72 points or 1.3 per cent to 49,858.24. Factors such as increasing COVID-29 situations in the nation, ongoing vaccination drive, the expiry of the March derivative series scheduled on Thursday, oil costs, movement in rupee and other worldwide cues will set the market place path. Asian peers have been observed trading mixed in the early trade on Monday.
SGX Nifty in red: Nifty futures have been trading 24 points or .16 per cent down at 14,723 on Singaporean Exchange, hinting at a cautious opening for BSE Sensex and Nifty 50 on Monday.
FPIs invest more than Rs 8,000 cr in Indian markets so far in March: Foreign portfolio investors FPIs have invested a net sum of Rs 8,642 crore in Indian markets so far in March. According to depositories information, FPIs poured in Rs 14,202 crore into equities but pulled out Rs 5,560 crore from debt segment involving March 1-19. This took the total net investment to Rs 8,642 crore.
Barbeque Nation IPO: The Rs 453-crore Barbeque Nation Hospitality’s IPO will open for subscription on Wednesday, in a cost band of Rs 498-500 per share. The problem will close on Friday. The hospitality chain IPO comprises a fresh problem of shares worth Rs 180 crore and OFS of 5.4 million shares.
Global markets: Asian stock markets have been trading mixed on Monday. Japan’s Nikkei 225 fell almost 2 per cent though the Topix index dipped 1.25 per cent. South Korea’s Kospi lost .23 per cent. US stocks settled mixed on Friday. The Dow Jones Industrial Average fell .71 per cent, the S&P 500 lost .07 per cent, though the Nasdaq Composite added .76 per cent.
Oil costs fall: Oil costs fell about one per cent on Monday, as worries about a drop in demand for fuel goods in the wake of but more European lockdowns dominated trading. According to Reuters, Brent crude was down 60 cents, or .9%, at $63.93 a barrel. US oil was off by 68 cents, or 1.1%, at $60.74 a barrel.
Technical speak: The sustainable upside bounce from the reduced supports and a formation of bullish candlestick pattern of Friday raises hopes for bulls to make a comeback, stated Nagaraj Shetti, Technical Research Analyst, HDFC Securities. “Further upmove from here could confirm reversal pattern and that could open more upside in the coming sessions 14900-15000 levels in the short term. Immediate support is placed at 14600,” he added.