Benchmark indices remained under pressure on Monday, however the midcap and small cap indices managed to outperform despite Nifty closing in the red. The volume activity in the past few days have been shrinking 20% below average and this may provide an early warning signal before broad-based selling in the markets. The key trigger for market in the next few days may come from movement in USDINR as FIIs have been net sellers in the past few days. USDINR move above 75 may trigger major volatility in the bond market. For today, one needs to remain cautious and Bank Nifty may see wider cracks below 34,900 levels. Taking cues for the SGX Nifty which is down 22 points, we expects markets to open on a cautious note.<\/p>\n\n\n\n
Globally, the Nasdaq and S&P 500 hit all-time highs fueled by tech stocks as investors expect a robust earnings season while interest rates remain low. The Dow Jones however ended lower by 150 points. Oil prices fell 2% to a one-week low on Monday after hitting their highest since 2018 earlier in the session, as a spike in COVID-19 cases in Asia and Europe put a brake on the rally before this week’s OPEC+ meeting.<\/p>\n\n\n