Opening Bell: Here’s what you need to know before the market opens on October 04, 2021.

Will markets sustain these early gains or traders will utilize this pullback to offload their positions?

The SGX Nifty indicates that domestic markets may open with modest gains as it trades with gains of 3.5 points at 17,533.50. What’s important is will markets sustain these early gains or will traders utilize this pullback to offload their positions. As per the sentiments prevailing among the Asian peers, we believe the latter might be seen on Monday. On the downside, the level of 17,440-17,450 is an important support level. Hence, keep a close watch on this level.

Cues from Asian markets: Asian stock markets are in a sea of red on Monday as Japan’s Nikkei 225 and Hong Kong’s Hang Seng is down by over 1%.

Overnight cues from US markets: After a highly volatile session in the early part of the trading session, US stocks turned buoyant as bargain buying was seen on Wall Street as a result US markets ended Friday’s session firmly in positive terrain. The Dow lead from the front as it jumped nearly 1.43% and it reclaimed its important psychological mark of 34,000. Despite this strong rebound from the lower levels, the Dow is still trading below its 50 and 100-DMA. The S&P 500 advanced 1.15% to ended above the 4,350 mark. Meanwhile, the tech-heavy Nasdaq rose nearly 0.82% to 14,566.70.

Last session summary: On Friday, the same old story continued on D-Street as the Nifty extended losses for the fourth straight day as it dropped nearly 0.5%, while Sensex lost 0.61%. However, the broader markets outperformed the frontline benchmark indices as Nifty Midcap and Smallcap added 0.04 and 0.13%, respectively. Overall, market breadth was slightly positive.

Among the sectoral indices, Nifty Pharma and Media were top gainers, on the flipside, Nifty Realty lost more than 1.5%. India VIX witnessed a significant drop of over 6% as a result it slipped below the 18-mark.

FII’s and DII’s activity on Friday: FIIs were net buyers to the tune of Rs 131.39 crore on Friday. On other hand, DIIs were net sellers to the tune of Rs 613.08 crore.

Important Corporate events to watch out: Man Infraconstruction to consider dividend and bonus. Ganesh Benzoplast, the meeting of Board of Directors of the company will be held on Monday to consider and approve the job work agreement and other terms for conducting the chemical business between the parent company- Ganesh Benzoplast and its 100% subsidiary GBL Chemical without transferring any immovable property owned by the company as approved by the member in the AGM.