The market is set for a positive start on mixed global cues on Monday, ahead of the expiry of July contracts. Meanwhile, more companies are expected to announce their June quarter earnings this week.
Here are the top 11 factors to know before the opening bell: SGX Nifty: SGX Nifty traded at levels around 11,040 vs Nifty July Fut's Friday close of 11,029, indicating a mildly positive start for the Indian market today. Asian markets: Stocks traded mixed in Asia. Japan’s Nikkei was down nearly 300 points or more than 1 percent, while Hong Kong’s Hang Seng was marginally up. South Korea’s Kospi traded marginally lower. US markets: Stocks closed little changed on Friday as strong quarterly results from some of the largest US companies, including Microsoft and Honeywell, counterbalanced threats made by President Donald Trump to increase tariffs on China. The S&P 500 slipped 0.1 percent to 2,801.83. The Dow Jones Industrial Average fell just 6.38 points to 25,058.12. The Nasdaq Composite declined 0.1 percent to close at 7,820.20. For the week, the S&P 500 and Nasdaq closed slightly lower while the Dow rose 0.1 percent to post its first three-week winning streak since January. Oil: The West Texas Intermediate (WTI) for August delivery added 1.00 US dollar to settle at 70.46 dollars a barrel on the New York Mercantile Exchange, reporting loss of 1.4 percent in the week. Brent crude for September delivery increased 0.49 dollar to close at 73.07 dollars a barrel on the London Futures Exchange, reporting loss of 3.0 percent in the week. Rupee: Movement in the rupee will be keenly watched by the investors. On Friday, the currency hit a fresh record low of 69.12 against the US dollar before recovering 21 paise to close at 68.84. The US dollar is expected to remain bullish until middle of next month, and equity and bond outflows from emerging markets are also likely to stay strong, says a Morgan Stanley report. Market at close: Indian markets last week were affected by volatility due to weak macro-economic data and political developments. The BSE Sensex lost 0.12 percent last week to settle at 36,496. The Nifty 50 shed 0.07 percent to settled at 11,010. F&O expiry: Trading is expected to be volatile as traders will roll over positions in the F&O segment from the near month July 2018 series to August 2018 series. The July 2018 F&O contracts will expire on Thursday. No-confidence motion: Stocks are likely to react positively after the government comfortably defeated the no-trust vote in the parliament late Friday. The motion was defeated with 325 votes against it while 126 voted in favour. GST Council impact: The GST council on Saturday slashed tax rates on a number of products, ranging from paints, white goods to footwears. Corporate earnings: ACC Ltd, United Spirits, L&T Tech Services, Larsen & Toubro Infotech, ICICI Securities, Vijaya Bank, V mart retail, Welspun Corp, Tejas network, Saregama India, Delta Corp, Balaji Amines, Granules India, Greenlam Ind, Hindustan Oil Exp, Hindustan Zinc, Indianbulls Ventures, Lakshmi Machine works, Linde India, Alicon Castalloy, Rane engine valve. FPIs: Continuing their selling spree, foreign investors have pulled out over Rs 2,000 crore from the capital markets this month so far on higher crude oil prices and a depreciating rupee. ( PTI)