9190 level crucial, Positive start likely
Indian equities markets are set to open on a flat to positive note on Monday tracking positive sentiments prevailing among Asian peers. The SGX Nifty, which was trading at 9,210, up by 12 points or 0.13%, also signalled a flat to positive opening.
Nifty50 going forward, the level of 9,190 may act as an immediate resistance, and if it holds above the 9,190 level, it may scale up to levels of 9,220 and 9,280. On the flipside, supports are seen around levels of 9,125-9,135.
Nikkei India Manufacturing PMI data will be released today.
Back home, Indian market started the session on a negative note and, thereafter, it traded in a tight range below the neutral line for the most part of the trading session. However, buying interest was seen in the last hour of trading session and the market shut near the neutral line. Nifty gained about 19% in the FY2016-17 and for the quarter, Nifty rose 12%, its best performance since the April-June quarter of 2014 when PM Modi was elected to power.Currency Tips
Reliance Industries witnessed scintillating rally on Friday as the stock surged to nine-year high as it was the last day of the company’s subsidiary Reliance Jio’s free service offer. Post-market hours, it was announced that the company has notched up an unprecedented 72 million paid subscribers and has extended the deadline for subscriptions to its paid plan till April 15.
Maruti Suzuki announced 8% growth in sales for the month of March 2017 at 139,763 units.
The growth of eight core sectors slipped to over one-year low of 1% in February due to decline in output of crude oil, natural gas, refinery products, fertilisers and cement.
The US stocks had a subdued opening on Friday. The Dow industrials, Nasdaq and S&P 500 closed with modest losses. The Dow Jones Industrial Average declined 65 points to finish at 20,663. The S&P 500 closed down 5 points at 2,363. The Nasdaq Composite Index finished down 3 points at 5,912.Stock Future Circuit Calls
Asian markets are trading in positive territory on Monday. Japan’s Nikkei 225 has risen 66 points after a report showed confidence among Japan’s large manufacturers improved for a second consecutive quarter. Hang Seng has advanced 116 points, Shanghai Composite remained close for holidays.