SGX Nifty up, last day for Nykaa IPO, stock under F&O ban, Nifty outlook; key things to watch out today

BSE Sensex and Nifty 50 were set to open to in the positive territory on Monday, as suggested by trends SGX Nifty in early trade. In the previous session, Sensex tumbled 677.77 points or 1.13 per cent to close at 59,306.93. The NSE Nifty 50 index closed 185 points or 1.04 per cent in red at 17,671. A host of factors such as domestic macroeconomic data announcements, quarterly earnings, oil prices, rupee movement, and other global cues will be the major sentiment drivers for the equity market in a holiday-shortened week ahead. Due to the festival of Diwali, markets will witness a truncated three-day trading session this week.

SGX Nifty: Nifty futures were trading 24 points or 0.14 per cent up at 17,774 on Singaporean Exchange, in the early trade on Monday, suggesting a gap up start for D-Street.

Call, Put OI data: Maximum Call open interest of maximum contracts was seen at 18,500 strike, followed by 18,000 strike. Maximum Put open interest of contracts was seen at 17,000 strike, followed by 17,500 strike.

Nifty technical view: The underlying trend of Nifty from smaller to larger timeframe seems to have reversed down, said an analyst. “Having reached near the immediate support of 20week EMA around 17560-17600 levels, there is a possibility of minor upside bounce from the lower levels by next week, which could be a sell on rise opportunity. The expected downside target for the Nifty could be around 17000 levels, which could be reached in the next few weeks,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.

Stock under F&O ban: Punjab National Bank (PNB) stock is under the F&O ban for 1 November 2021. If the open interest of any stock crosses 95% of the MWPL (market-wide positions limits), all F&O contracts of that stock enter a ban period.

FII, DII data: On Friday, foreign institutional investors (FIIs) offloaded shares worth Rs 5,142.63 crore, while domestic institutional investors (DIIs) lapped up shares worth Rs 4,342.51 crore on a net basis in the Indian stock market.

Last day to subscribe to Nykaa IPO, Policybazaar IPO opens: Nykaa IPO was subscribed 4.82 times on Friday, the Day 2 of subscription. The Rs 5,352-crore IPO received bids for 12.77 crore shares against 2.64 crore shares on offer. While on the other hand, Policybazaar IPO will open for subscription today.

Global watch: Asian stock markets were trading mixed in early trade on Monday. Japanese stocks led gains regionally as the Nikkei 225 jumped 2.17%. Hong Kong’s Hang Seng index fell 1.15%. South Korea’s Kospi advanced 0.37% while the S&P/ASX 200 in Australia gained 0.6%. In overnight trade on Wall Street on Friday, US stock indices ended in the green. The Dow Jones Industrial Average rose 89.08 points, or 0.25%, to 35,819.56, the S&P 500 gained 8.96 points, or 0.19%, to 4,605.38 and the Nasdaq Composite added 50.27 points, or 0.33%, to 15,498.39.