On Friday, markets remained lacklustre with Nifty closing at 24,366 as investors reacted to the RBI’s revised macroeconomic projections and rising external risks. Indian equity markets are expected to remain range-bound this week week amid a mix of domestic and global cues. While the Reserve Bank of India's measures to attract foreign capital and the government's tax relief for foreign investors in government securities may support sentiment, analysts expect market performance likely to be driven by bottom-up stock and sector-specific action in the near term.

STATE OF THE MARKETS

Gift Nifty (Earlier SGX Nifty) signals a negative start

Tech View: In the short term, the index is likely to consolidate within the 23,300–23,500 range. A decisive breakout above 23,500 could trigger a rally towards 25,700 and higher, while a breach below the 23,300 support level may lead to a sharp correction.

India VIX: India VIX, which is a measure of the fear in the markets, fell 0.6% to settle at 15.79 levels.

S&P 500 futures were little changed as of 9:05 a.m. Tokyo time

Hang Seng futures fell 1.4%

Japan’s Topix fell 1%

The euro was little changed at $1.1523

The Japanese yen was little changed at 160.28 per dollar

The offshore yuan was little changed at 6.7887 per dollar

Dollar at 2-month high

The dollar was perched near a two-month high on Monday after a blowout U.S. jobs report sent traders ramping up bets on a Federal Reserve rate hike this year, while the yen teetered further into the intervention zone.

Early moves in currencies were largely muted with markets in Australia closed for a holiday, though the dollar held to its strong gains made in the wake of the report which showed nonfarm payrolls increased by 172,000 jobs last month, far exceeding estimates.

Nasdaq.

Oil prices were up more than $2 a barrel on Monday after Israel on Sunday launched renewed strikes on Lebanon despite a truce between the two countries, eroding hopes for an end to the wider war and a restart to crude flows through the Strait of Hormuz.

U.S. crude futures were up $2.10, or 2.32%, at $92.64 per barrel as of 0013 GMT, while Brent crude futures rose $2.33, or 2.5%, to $95.42 a barrel.

Stocks in F&O ban today

Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

Foreign portfolio investors net sold shares worth Rs 8776 crore on Friday. DIIs, meanwhile, were net buyers at Rs 9,133 crore.

The Indian rupee advanced on Friday to 94.94, posting its best session in two months, after the central bank held its policy rate and announced a host of measures to attract dollar inflows over the medium term.