GIFT Nifty up 75 points; here's the trading setup for today's session
"Going ahead, markets would take cues from the voter’s turnout data from the fourth phase which has been a major concern so far," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.
Domestic markets recovered from lower levels to close with gains on Monday on the back of likely short covering as well as buying at lower levels. In today's trade, markets would react to , which showed marginal easing in April."Going ahead, markets would take cues from the voter’s turnout data from the fourth phase which has been a major concern so far," said Siddhartha Khemka, Head - Retail Research, .
Here's breaking down the actions:
STATE OF THE MARKETS
(Earlier ) signals a positive start
GIFT on the NSE IX traded higher by 76.50 points, or 0.35 per cent, at 22,243, signaling that Dalal Street was headed for positive start on Tuesday.
- Tech View: Nifty’s recovery may encounter resistance in the 22150-22200 zone, and only a decisive move above 22200 could trigger a stronger rally in the . On the lower end, support is situated at 21950.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 11.5% to settle at 20.60 levels.
mixed
The S&P 500 closed very slightly lower on Monday as investors took a breather after three weekly gains while they awaited key inflation readings and earnings reports due this week while a survey showed consumers concerned about inflation.
- S&P 500 off 0.04%,
- Nasdaq adds 0.27%,
- Dow off 0.15%
rangebound
Hong Kong were poised for gains following a rally in US-listed Chinese shares overnight. Other Asian markets traded rangebound ahead of key US inflation data this week.
- S&P 500 futures were little changed as of 9:06 a.m. Tokyo time
- Hang Seng futures rose 0.6%
- Japan’s Topix rose 0.3%
- Australia’s S&P/ASX 200 fell 0.1%
- Euro Stoxx 50 futures were little changed
- Nasdaq 100 futures were little changed
Oil surges
On Tuesday, oil prices surged, driven by expectations of a tightening supply-demand balance. This was fueled by operational disruptions, increased demand, and voluntary output cuts.
Stocks in F&O ban today
1)
2)
3)
4)
5) GMR Infra
6) SAIL
7) Hindustan Copper
8) PEL
9) PNB
Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the
Foreign portfolio investors were net sellers at Rs 4,498 crore on Monday. DIIs, meanwhile, bought shares worth Rs 3,562 crore
The rupee consolidated in a narrow range and settled flat at 83.51 against the US dollar on Monday as the support from positive domestic equities was negated by strong American currency.
The net short of FIIs increased from Rs 1.58 lakh crore on Friday to Rs 1.73 lakh crore on Monday.
Q4 results
Bharti Airtel, Bharti Hexacom, Shree Cement, Patanjali Foods, Devyani, PVR Inox among others will announce their fourth quarter earnings on Tuesday.
Source: Stocks-Markets-Economic Times
