#asianequities

The previous trading week concluded on a subdued note for the Indian stock market, mirroring the global trend of weakness. As the new week unfolds, all eyes are keenly fixed on the impending RIL AGM, where noteworthy announcements are expected to drive market sentiment. Simultaneously, a key highlight of the current week is the imminent release of India's first quarter GDP figures, which hold the promise of providing insights into the trajectory of the nation's economy.Anticipating RIL AGM and Economic InsightsThe forthcoming RIL AGM has created substantial anticipation among traders and investors, as it holds the potential to reveal significant developments that could sway market movements. Concurrently, the unveiling of India's first quarter GDP data is awaited with bated breath, as these numbers have the potential to offer valuable insights into the health of the country's economy.Market Sentiment and Niche SectorsAs market participants gear up for the week ahead, the prevailing sentiment remains cautious, driven by a lack of positive catalysts. Despite this backdrop, Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services, predicts that niche mid and small-cap sectors could see notable activity. These segments might take the spotlight, potentially compensating for the overall dearth of significant positive triggers.Early Indicators- Positive Signal from GIFT Nifty: The GIFT Nifty (formerly SGX Nifty) suggests a favorable market opening. It traded 45 points higher at 19,282.50, indicating the possibility of a positive start to Monday's trading session.- Technical Analysis of Nifty: The Nifty index encountered a significant support level represented by the 55-day Exponential Moving Average (55EMA). The market sentiment is likely to remain bearish as long as the index remains below 19,450, where the 21-day Exponential Moving Average (EMA) is situated on the daily chart. A potential breach below 19,240 could steer the Nifty towards the 19,000 level.- Movement of India VIX: The India VIX, which gauges market fear, witnessed a rise of 3.27%, closing at 12.08 levels.Global Market Landscape- US Stock Market: The US stock market experienced a volatile session that concluded positively on Friday. Federal Reserve Chair Jerome Powell's remarks about potential interest rate hikes to control inflation provided a boost to investor sentiment. The Dow climbed by 0.7%, the S&P 500 advanced 0.7%, and the Nasdaq gained 0.9%.- Asian Market Trends: Asian equities followed suit with modest gains on Monday. Investors responded positively to Jerome Powell's comments. Japan's Topix index rose by 0.9%, Australia's S&P/ASX 200 saw a 0.5% increase, and Euro Stoxx 50 futures remained stable.Oil Price MovementOil prices witnessed a slight increase in tandem with equity markets. This uptick was prompted by China's efforts to stimulate its economy. Brent crude saw a rise of 0.3% to reach $84.70 per barrel, while US West Texas Intermediate crude advanced 0.3% to $80.08 per barrel.F&O Ban ListSeveral stocks are under the F&O ban for the day, including BHEL, Escorts, RBL Bank, India Cements, Sun TV, GMR Infra, Hindustan Copper, and Manappuram Finance. This restriction applies to securities that have exceeded 95% of the market-wide position limit.Institutional Activity and Rupee PerformanceForeign portfolio investors (FPIs) concluded Friday as net sellers, with sales totaling Rs 4,638 crore. On the other hand, domestic institutional investors (DIIs) made purchases worth Rs 1,414 crore. The Indian rupee faced a minor setback, declining by 8 paise to settle at 82.64 against the US dollar. The decline was attributed to forex outflows, a robust US currency, and negative trends in the equity market.As the new week dawns, the market's attention remains riveted on key events and indicators that have the potential to shape trading dynamics.Disclaimer: The information provided here is for educational purposes only and should not be considered financial advice. Always conduct thorough research and consider consulting a financial professional before engaging in algorithmic trading.

The Indian stock market is anticipated to open on a weak note on Wednesday, reflecting losses in global peers and lower risk appetite among investors. The subdued sentiment in Asian markets, coupled with concerns about the US Federal Reserve's monetary policy outlook, has contributed to the expected cautious start for the Indian benchmark indices. Here's a closer look at the factors impacting the market outlook for the day.Global Market InfluenceAsian Markets: Asian markets experienced a decline as investors awaited further clarity on the US Federal Reserve's monetary policy. Losses in Asian shares were attributed to uncertainties surrounding the upcoming speech by Fed Chair Jerome Powell at the Jackson Hole meeting on Friday. Key economic data releases, including the contraction of factory activity in Japan and a decline in business activity in Australia, also added to the negative sentiment.US Stocks: US stock indices ended mostly lower on Tuesday, reflecting concerns over a potential interest rate hike by the Federal Reserve. The Dow Jones Industrial Average fell by 174.86 points, or 0.51%, while the S&P 500 declined by 12.22 points, or 0.28%. The Nasdaq Composite managed a modest gain of 8.28 points, or 0.06%. The downgrade of credit ratings for multiple regional US lenders by S&P led to a decline in banking stocks.Indian Market RecapOn Tuesday, the Indian equity indices, namely the Sensex and Nifty, ended the trading session on a flat note despite positive trends in global markets. The mixed performance in global markets, along with key economic data releases in the Asian region, has created an atmosphere of caution in the Indian stock market.Asian Market MovementJapan: Japan's Nikkei 225 fell by 0.3%, and the broader Topix index declined by 0.36%. The contraction of factory activity in August, as indicated by a private survey, contributed to the decline in Japanese equities.Australia: Australia's S&P/ASX 200 traded marginally lower as business activity contracted at the fastest pace in 19 months. The composite purchasing managers index for August came in at 47.1, indicating a contraction.South Korea: South Korea's Kospi lost 0.27%, and the Kosdaq slipped 0.32%, further illustrating the cautious sentiment prevailing in the Asian markets.Hong Kong: Hong Kong's Hang Seng index futures were also lower, indicating a potential negative start. The index futures stood at 17,655 compared to the previous close of 17,791.01 for the Hang Seng Index.Indian Market OutlookThe Gift Nifty was trading at 19,350, a drop from the Nifty futures' previous close of 19,388.75. This suggests a negative start for the Indian benchmark indices. The global uncertainties, combined with lower risk appetite, are expected to influence the opening performance of the Indian stock market.ConclusionThe Indian stock market is poised for a weak opening on Wednesday due to losses in global peers and lower risk appetite among investors. The cautious sentiment in Asian markets, driven by key economic data releases and uncertainties surrounding the US Federal Reserve's monetary policy outlook, has contributed to the expected negative start for the Indian benchmark indices. As the trading day unfolds, market participants will closely monitor global developments and their potential impact on the Indian stock market.Disclaimer: The information provided here is for educational purposes only and should not be considered financial advice. Always conduct thorough research and consider consulting a financial professional before engaging in algorithmic trading.

On Thursday, U.S. stocks closed higher after a tumultuous day of trading, with investors trying to overcome concerns about the stability of the banking sector and the potential credit crunch. Mega-cap companies such as Apple and Microsoft were responsible for the gains that put the Nasdaq 100 close to the threshold of a bull market, with almost a 20% surge from its low in December.U.S. Treasury Secretary Janet Yellen announced late Thursday that the federal government would take additional steps to stabilize the banking system if required, according to prepared remarks for a House hearing.In Switzerland, the central bank increased borrowing costs by 50 basis points after local authorities helped broker a deal for UBS Group to acquire scandal-ridden Credit Suisse Group. Meanwhile, the Bank of England raised its policy rate by 25 basis points, marking its 11th consecutive increase.Moody's Investors Service warns of the growing risk that banking stress could spread to other sectors and the U.S. economy, resulting in greater financial and economic damage than anticipated, despite the prompt action taken by regulators and policy makers.IT services company Accenture Plc lowered its annual revenue and profit forecasts, citing the worsening global economic outlook and reduced spending by clients focused on cost optimization. The company will also reduce its workforce by 2.5% or 19,000 jobs. The company's sequential revenue growth for the Feb quarter increased by 0.4%, but net income fell 22.46% from the previous quarter.On Friday, Asian equities slid as the technology-driven rally on Wall Street failed to alleviate concerns surrounding the banking sector. Nifty also gave up its morning gains on March 23, closing 0.44% lower at 17076.9. The short-term top for Nifty may have been established at 17207 if it fails to resume its uptrend on March 24.