The India market is likely to track mixed global cues on Monday. The Singapore-traded SGX Nifty was at levels around 11,570 vs Nifty August Future's Monday close of 11,578, indicating a flat-to-negative opening for Indian market.
Here is what you need to know before the market opens: Asia: MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.02 percent. Australian stocks lost 0.7 percent. South Korea's KOSPI nudged up 0.1 percent, while Japan's Nikkei fell 0.6 percent. US: The Dow Jones Industrial Average climbed 89.37 points to 25758.69—their highest close since Feb 1. The S&P 500 added 6.92 points to 2857.05, bringing it 0.6 percent below its January record. The tech-heavy Nasdaq Composite edged up 4.68 points to 7821.01. The trio of indexes has climbed in three straight sessions. Crude prices: Brent crude oil futures were at $72.24 per barrel at 0104 GMT, up 3 cents from their last close. US WTI crude futures were up 24 cents at $66.67 per barrel. Dollar index: The dollar index against a basket of six major currencies was down 0.2 percent at 95.714, extending losses from the previous day. The euro brushed an 11-day high of $1.1493, stretching its gains after climbing about climbing about 0.35 percent overnight. The US currency slipped to 109.84 yen, its lowest since late June. FII & DII data: Foreign institutional investors (FIIs) sold shares worth Rs 483.04 crore while domestic institutional investors bought shares worth Rs 593.22 crore in the Indian equity market on Monday. Market at close: The Sensex settled 330 points higher to close at 38,279, while the Nifty 50 ended at above 11,550, closing at 11,552. Rupee: The Indian rupee ended at 69.82 against the dollar. The home currency posted its biggest single session rise against the dollar since June 29 intra-day and eventually closed at highest level against the greenback since August 10. Trump on interest rates, currency valuation: US president Donald Trump said on Monday he was “not thrilled” with the Federal Reserve for raising interest rates and said the US central bank should do more to help him boost the economy. He also accused China and Europe of manipulating their respective currencies. Indian economy: India has been "remarkably resilient" in the recent turmoil in emerging market equities largely driven by macro stability, low policy uncertainty, improving growth and domestic flows, said a Morgan Stanley report. The agency in its base case (50 percent probability) expects June 2019 Sensex at 36,000, while in the bull case (30 percent probability), it could be at 44,000 and in bear case (20 percent probability), it could be at 26,500.