Nifty futures were trading 42.5 points or 0.25 per cent down at 17,273.50 levels on Friday, suggesting a weak start for BSE Sensex and NSE Nifty 50. Early trends on SGX Nifty were signalling that NSE Nifty 50 may open below 17300. Today investors will watch monthly US jobs report. Analysts said that the rising oil prices and spiking US Treasury yields were also making investors jittery about taking long term bets. “For Nifty, the immediate hurdle is seen at 17589 mark while intraday support is now seen only at 17227 zone with major support at 17017 mark,” Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities, said.
Key things to know before market opening bell on 7 Oct 2022
Global markets: Asian stock markets were ruling in red in early trade on Friday, ahead of monthly US jobs report. The Nikkei 225 in Japan fell 1.35% and the Topix index slipped 1.29%. South Korea’s Kospi slipped 0.8% and the Kosdaq dropped 0.93%. Markets in mainland China were closed for a holiday. In overnight trade on Wall Street, US stocks fell. The Dow Jones Industrial Average shed 346.93 points, or 1.15%, the S&P 500 declined 1.02, while the Nasdaq Composite was 0.68% lower.
FII, DII data: On Thursday, foreign institutional investors (FIIs) remained buyers to the tune of Rs 279.01 crore, whereas domestic institutional investors (DIIs) sold shares worth Rs 43.92 crore on net basis in the Indian equity market.
Stocks under F&O ban on NSE: NSE has not added any stock under its F&O ban list for 7 October 2022. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
Bank Nifty support: Bank Nifty index has sustained above 50 EMA on the daily chart. “The RSI is entering a bullish crossover. Over the short term, the index may move towards 40500. On the lower end, support is visible at 38800,” Rupak De, Senior Technical Analyst at LKP Securities, said.
NSE Nifty 50 support, resistance: “The short-term uptrend of Nifty remains intact and there is a possibility of minor consolidation in the next 1-2 sessions around the hurdle of 17400-17500 levels before showing a decisive upside breakout of the said resistance. Immediate support is placed at 17220 levels,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.
SEBI cancels registration of Brickwork Ratings: Sebi on Thursday cancelled the licence of Brickwork Ratings India and directed the credit rating agency to wind down its operations within six months for allegedly violating various rules. Further, the markets regulator has barred the agency from taking any new clients.