GIFT Nifty trades on a muted note; here's the trading setup for today's session
Domestic equities rose for a second day as investors analyzed Lok Sabha 2024 elections outcome. Focus on government formation, ECB meeting today, and RBI policy tomorrow.
Domestic gained for a second straight day in a volatile trade as began to digest the outcome of the ."All eyes will be on government formation this weekend along with today and outcome and commentary tomorrow," said Yashovardhan Khemka, Senior Manager, Research & Analytics at .
Here's breaking down the pre-market actions:
State of the markets
Gift (Earlier SGX Nifty) signals a flat start
Nifty futures on the Gift Nifty traded 4 pts or 0.02%, at 22,922.
Tech View
The short-term trend of Nifty continues to be positive amidst high . Having moved above the hurdle of 22250 levels (mid-part of Tuesday's long bear candle) recently, Nifty could move towards the next upper hurdle of 23200 (upper part of long bear candle) in the near term. Immediate support is at 22640 levels, Nagaraj Shetti of said.
India VIX: India VIX, which is a measure of the fear in the markets, fell 11.04% to settle at 16.80 levels.
Asian Markets
- S&P 500 futures were little changed as of 9:11 a.m. Tokyo time
- Hang Seng futures rose 0.4%
- Japan’s Topix was little changed
- Australia’s S&P/ASX 200 rose 0.2%
- Euro Stoxx 50 futures rose 0.7%
The S&P 500 and Nasdaq composite closed slightly down on Thursday as investors anticipated a significant labor report, stepping back from the record peaks seen the day before. Meanwhile, the Dow edged up. Initially, both the S&P 500 and Nasdaq surged to new intraday highs, but later declined due to a drop in technology stocks.
Stocks in F&O ban today
Oil Prices Climb
Oil prices rose on Friday, continuing to climb after OPEC+ members Saudi Arabia and Russia indicated readiness to pause or reverse output agreements and as an interest rate cut in Europe raised the prospect of a similar U.S. move.
Brent crude futures rose 16 cents or 0.2% to $80.03 per barrel and U.S. West Texas Intermediate crude futures rose 16 cents or 0.2% to $75.71 as at 0007 GMT.
ZEE
Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit
were net sellers at Rs 6,867 crore on Thursday. too sold shares worth Rs 3,718 crore.
Rupee
The rupee depreciated 9 paise to settle at 83.53 against the US dollar on Thursday due to foreign capital outflows and rising crude oil prices in international markets.
FII data
The net short of FIIs increased from Rs 3.11 lakh crore on Wednesday to Rs 2.87 lakh crore on Thursday.
Source: Stocks-Markets-Economic Times
