The Indian market is set for a positive start on Monday despite weak global cues as SGX Nifty, an early indicator of the Nifty 50's trend in India, was up 0.34 percent at 10,867, indicating a positive opening for the Indian market,
Global investors remained jittery as weak economic data from China and Europe added to evidence of cooling global growth and reinforced anxiety over the impact of international trade frictions on business and profits.
Here's what you need to know before the opening bell: Asia: Asian share markets started the week on a cautious footing on Monday. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed while Japan’s Nikkei was up 0.1 percent in early trade. US stock futures were also almost flat. Wall Street: On Friday, the S&P 500 lost 1.91 percent to 2,599.95, marking its lowest close since April 2. The benchmark has dropped 11.3 percent from its Sept. 20 record close - the worst performance since it fell more than 14 percent between May 2015 and January 2016. Oil: US oil prices edged up on Thursday, buoyed by a drawdown in inventories and by signs of easing trade tensions between Washington and Beijing. Oil prices have also been supported by OPEC-led supply curbs announced last week, although gains have been muted after the producer group lowered its 2019 demand forecast. US West Texas Intermediate (WTI) crude futures were at $51.27 per barrel at 0020 GMT, up 0.23 percent from their last settlement. Rupee: The rupee on Friday closed at 71.89 against the US dollar. Market close: The Indian market closed flat after a range-bound trade on Friday. The NSE major, Nifty, advanced 14 points to 10,805 and the Sensex 33 points to 35,963. The broader indices, the Nifty Midcap index and the Nifty Bank too ended flat at 17,592 and 26,826, respectively. Financial stocks, HDFC, HDFC Bank and Kotak Mahindra Bank dragged the market, while Infosys, Bharti Airtel and Reliance Industries Ltd helped it close with minor gains. Sebi: Market regulator Sebi on Friday relaxed guidelines pertaining to setting up cyber security operations centre for small market intermediaries as they lack knowledge in cyber security. The decision has been taken after discussions with market participants, the Securities and Exchange Board of India (Sebi) said in a circular. RBI board meet: The Reserve Bank of India’s (RBI) board on Friday met in Mumbai and decided to further examine the governance framework of the central bank. "The board deliberated on the governance framework of the Reserve Bank and it was decided that the matter required further examination," RBI said in a statement. Dollar: The dollar held near a 19-month high on Monday, bolstered by safe-haven buying as heightened concerns of a global economic slowdown reduced appetite for riskier assets such as stocks and Asian currencies. Bharat-22 ETF: The government is planning to raise about Rs 10,000 crore through a follow on offer of Bharat-22 ETF in February, an official said. "Plans are on for launching the third tranche of Bharat-22 ETF around February. The offer is likely to have a base issue size of Rs 5,000 crore, with a green-shoe option to retain an over-subscription of equal amount, taking the total issue size to Rs 10,000 crore," the official told PTI. Housing sales: Housing sales are estimated to have increased by 25 per cent this year at 3.1 lakh units in nine major cities of the country, driven by improved demand especially for affordable homes, according to PropTiger.com. The nine cities tracked by News Corp-backed PropTiger are -- Mumbai, Pune, Noida, Gurgaon, Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad. (With inputs from agencies)