Top 10 things to know before the market opens today

Sensex, Nifty

The market is expected to open in the red as trends on the SGX Nifty indicate a negative opening for the broader index in India with a loss of 34 points.

The BSE Sensex fell 143.20 points to 58,644.82, while the Nifty50 declined 43.90 points to 17,516.30 and formed bearish candle on the daily charts. The index gained 2.4 percent during the week and formed a bullish candle which resembles the Shooting Star pattern formation on the weekly scale.

According to pivot charts, the key support levels for the Nifty are placed at 17,446.66, followed by 17,377.03. If the index moves up, the key resistance levels to watch out for are 17,601.87 and 17,687.43.

US Markets

Another bumpy ride on Wall Street ended on Friday as Amazon's positive earnings capped a run of mixed big-tech numbers, with the Nasdaq recovering much of its losses from the previous session and all three benchmarks ending the week in the positive territory.

The Dow Jones Industrial Average fell 21.42 points, or 0.06 percent, to 35,089.74, the S&P 500 gained 23.09 points, or 0.52 percent, to 4,500.53 and the Nasdaq Composite added 219.19 points, or 1.58 percent, to 14,098.01.

Asian Markets

Asian share markets mostly eased on Monday after stunningly strong US jobs data soothed concerns about the global economy but also added to the risk of an aggressive tightening by the Federal Reserve.

The cautious mood saw MSCI's broadest index of Asia-Pacific shares outside Japan dip 0.1 percent in early trade. Japan's Nikkei fell 0.9 percent and South Korea 0.8 percent.

SGX Nifty

Trends on the SGX Nifty indicate a negative opening for the broader index in India with a loss of 34 points. The Nifty futures were trading around 17,456 levels on the Singaporean exchange.

Oil falls after signs of progress in US-Iran nuclear talks

Oil prices fell on Monday on expectations the US-Iran talks may be nearing a conclusion on reviving a deal restricting the OPEC country's nuclear weapons development, which would raise crude supply, though global supply concerns capped losses.

Brent crude was down 53 cents, or 0.6%, to $92.74 a barrel by 0055 GMT, after rising $2.16 on Friday. US West Texas Intermediate crude dropped 74 cents, or 0.8%, to $91.57 a barrel, having gained $2.04 the previous session.

US employers shrug off omicron, add 467,000 jobs in January

US employers added a burst of 467,000 jobs in January despite a wave of omicron inflections that sickened millions of workers, kept many consumers at home and left businesses from restaurants to manufacturers short-staffed.

The Labor Department’s report on Friday also showed the unemployment rate ticked up from 3.9 percent to 4 percent. Estimated job growth for December was also revised much higher, from 199,000 to 510,000.

Bitcoin hits 2-week high

Bitcoin hit its highest in two weeks on Saturday, extending the previous session's strong gains as cryptocurrencies basked in a recovery in risk appetite and a rally in stock markets.

The world's largest cryptocurrency hit $41,983, taking gains from Thursday's lows to nearly 16%, and marking a 27% rise from the year's low of $32,950.72 on January 24. Ether , the coin linked to the ethereum blockchain network, scaled the $3,000 level for the first time since January 21.

China's Jan services activity expands at slowest rate in five months - Caixin PMI

Activity in China's services sector in January expanded at the slowest pace in five months, as a surge in local COVID-19 cases and containment measures hit new business and consumer sentiment while employment fell, a private survey showed on Monday.

The Caixin/Markit services Purchasing Managers' Index (PMI) dropped to 51.4 in January - the lowest since August - from 53.1 in December. The 50-point mark separates growth from contraction on a monthly basis.

Monetary Policy Committee's meeting rescheduled to February 8-10

The Reserve Bank of India's Monetary Policy Committee will meet on February 8-10 instead of February 7-9, the central bank said on February 6. The change in the committee's meeting schedule comes after February 7 was declared as public holiday by the Maharashtra state government following the demise of renowned singer Lata Mangeshkar.

"With February 7, 2022 being declared a public holiday by the Government of Maharashtra under Section 25 of the Negotiable Instruments Act, 1881 as a mark of respect to Bharat Ratna Ku. Lata Mangeshkar, the MPC meeting has been rescheduled to February 8-10, 2022. This announcement is made under Section 45ZI(4) of the Reserve Bank of India Act 1934," the RBI said today.

Results today

Union Bank of India, TVS Motor Company, NALCO, Borosil, Camlin Fine Sciences, Castrol India, Chemcon Speciality Chemicals, Clean Science and Technology, Fortis Malar Hospitals, Future Supply Chain Solutions, Gabriel India, Glaxosmithkline Pharmaceuticals, Indo Count Industries, Indian Bank, JM Financial, Jindal Stainless, Lasa Supergenerics, Likhitha Infrastructure, Nucleus Software Exports, Paisalo Digital, Peninsula Land, The Phoenix Mills, PB Fintech, Punjab & Sind Bank, Sansera Engineering, S H Kelkar and Company, Talbros Engineering, Tarsons Products, Texmaco Infrastructure, Texmaco Rail, Tube Investments of India, and Zodiac Energy.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 2,267.86 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 621.98 crore in the Indian equity market on February 4, as per provisional data available on the NSE.