Important Information For July 12 Stock Trading Strategy

The Indian equity benchmarks are set to open lower on Tuesday as indicated by the Nifty Futures traded on the Singapore Exchange. The Nifty Futures on Singapore Exchange also known as SGX Nifty Futures fell 111 points or 0.7 per cent to 16,088.

Benchmark indices turned highly volatile in the last hour of trade on Monday, with the Sensex falling 86.61 points after three days of gain amid heavy selling in IT counters and weak trends in global markets.

The 30-share BSE benchmark declined 86.61 points or 0.16 per cent to settle at 54,395.23. During the day, it fell by 391.31 points or 0.71 per cent to 54,090.53.

The broader NSE Nifty dipped 4.60 points or 0.03 per cent to close at 16,216.

Here are key things to know before market opens on Tuesday:

Asia Markets

Most of the Asian markets were trading lower. Japan's Nikkei fell 1.71 per cent, Hong Kong's Hang Seng declined 0.7 per cent, South Korea's KOSPI dropped 1.15 per cent and Taiwan Weighted tumbled 2.11 per cent.

US Markets

Wall Street got back to slumping Monday to kick off a week full of updates about how bad inflation is and how corporate profits are handling it.

The S&P 500 fell 1.2 per cent and gave up the majority of its gains from the prior week. The Dow Jones Industrial Average slipped 0.5 per cent, and the Nasdaq composite dropped 2.3 per cent.

Stocks of smaller companies were some of the biggest losers, with the Russell 2000 index down 2.1 per cent, as worries about a possible recession continue to dog markets. The highest inflation in four decades is pushing the Federal Reserve to hike interest rates, which puts the clamps on the economy and pushes downward on all kinds of investments.

Parts of the economy are slowing already, though the still-hot jobs market remains a notable exception.

Crude Oil and Gold Price Check

Benchmark U.S. crude oil for August delivery fell 70 cents to $104.09 a barrel Monday. Brent crude for September delivery rose 8 cents to $107.10 a barrel.

Gold for August delivery fell $10.60 to $1,731.70 an ounce. Silver for September delivery fell 11 cents to $19.13 an ounce and September copper fell 9 cents to $3.43 a pound.

The dollar rose to 137.32 Japanese yen from 136.18 yen. The euro fell to $1.0063 from $1.0173.

Foreign Flows

Foreign institutional investors on Monday sold shares worth Rs 171 crore while domestic institutional investors sold shares worth Rs 297 crore. 

Rupee Check

The rupee depreciated by 19 paise to close at its fresh lifetime low of 79.45 against the US dollar on Monday amid broad-based dollar demand and foreign capital outflows.

However, receding crude oil prices in the international market restricted the loss for the rupee, which posted its third straight session of decline.

At the interbank forex market, the local unit opened weak at 79.30 against the greenback and witnessed an intra-day high of 79.24 and a low of 79.50.

Stocks In Focus

Spicejet: SpiceJet chairman Ajay Singh was booked here for allegedly duping a businessman on the pretext of allotting him company shares, police said on Monday.

Complainant Amit Arora claimed Singh has defrauded others also in a similar manner. 

According to the complaint, the SpiceJet chairman and managing director delivered a fake depository instruction slip (DIS) of 10 lakh shares for services provided by Arora to him.

HCL Tech, Delta Corp, Anand Rathi Wealth, Sterling and Wilson, Trident Texofab and Goa Carbon will be in focus as they will report their June quarter earnings later in the day.

HFCL: The company has freceived purchase order aggregating to Rs 59.22 crores, from one of the leading Private Telecom Operators of the Country for providing Services to rollout their Fiber to the Home (FTTH) Network and Long Distance Fiber Network in various Telecom Circles.

Satin Creditcare: The company's board has approved raising Rs 5,000 crore via non-convertible debentures.