What changed your markets while you were sleeping

Easing fears over interest rate hikes in the US and positive cues from Asian markets are hinting at a positive opening for the domestic market on Day 1 of the March F&O series. Let’s check out what all might influence Dalal Street all through the day:

Singapore trading sets stage for positive opening
At 7.45 am, Nifty futures on the Singapore Stock Exchange were trading 17.50 points, or 0.17 per cent, higher at 10,403, indicating a positive opening for the Nifty50 in India.

Nifty50 forms small bullish candle

The market seem to have slipped into a consolidation mode and the 10,340-10,300 band has earned great respect from the short sellers, said Sameet Chavan, Chief Analyst-Technical and Derivatives at Angel Broking. "We can see a cluster of resistances between 10,426-10,500 levels. Going ahead, if market has to give any convincing relief rally, it should first surpass the 10,500 mark. However, in this scenario, the broader picture does not change as we may see selling pressure at higher levels. If we have to take a directional bet, we would certainly stick with a cautious stance," Chavan said.

Rollovers to March F&O series weak
Market-wide rollovers to March series stood at 78 per cent which were a tad lower than average rollovers of 56 per cent seen in the three series. Nifty futures rollovers at 62 per cent too were lower than 67 per cent rollovers seen till in the comparable period of last three series.

US stocks climb as rate hike fears ease
Most US rose in overnight trade as bond yields dropped after St Louis Fed President James Bullard reportedly said that central bankers need to be careful not to increase rates too quickly this year as it could slowdown the world's largest economy. The Dow Jones Industrial Average jumped 164.7 points, or 0.66 per cent, to close at 24,962.48. The S&P500 gained 2.63 points, or 0.10 per cent, to 2,703.96.

Asian markets mirror US gains
Asian shares rebounded on Friday as comments from a Federal Reserve official eased worries that the central bank might raise rates more aggressively this year, while the safe-haven yen held on to its gains amid heightened volatility across markets, Reuters reported. MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.4 per cent, but was still on track to end the week barely changed. Australian and New Zealand shares were each up 0.5 per cent while Japan's Nikkei edged 0.3 per cent higher and South Korea's KOSPI index rose 1 percent.

Infy files counterclaim case against ex-CFO
Infosys has made an over Rs 100-crore counterclaim against former chief financial officer Rajiv Bansal, CNBC-TV18 reported, a move that could drag on the arbitration process the company and its former executive have been locked in for over six months.

Federal Bank acquires 26% in Equirus
Private sector lender Federal Bank on Thursday made its foray into investment banking by acquiring a minority 26 % stake in Equirus Capital, a boutique investment bank. Ganesh Sankaran, executive director, Federal Bank, said with a shift in client preferences, the bank's foray into investment banking will help it participate in opportunities and instruments beyond traditional banking products.

Axis Bank asks CIO to resign
Axis Bank has asked its president and chief information officer Amit Sethi to resign. Sethi’s exit from the country’s third-largest lender followed a complaint from a whistleblower regarding the functioning of the bank’s technology department, which he headed, said two sources familiar with the development.

JSW emerges highest bidder for JP Infra
The JSW Group has emerged as the highest bidder for Jaypee Infratech, offering a little over Rs 9,900 crore to banks amid claims from homebuyers that they should be considered on par with financial lenders in the resolution plan for the company.