GIFT Nifty up 55 points; here's the trading setup for today's session
"Overall, we expect the market to continue its positive momentum with a focus on large-cap. With the start of the election in April, we believe government-centric stocks to be in focus," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal
Equity markets ended the FY24 on a bullish tone amid positive global cues. In today's trade, domestic indices will take cues from US GDP growth and core PCE price data."Overall, we expect the market to continue its positive momentum with a focus on large-cap. With the start of the election in April, we believe government-centric stocks to be in focus," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal
Here's breaking down the actions:
STATE OF THE MARKETS
(Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 57.5 points, or 0.26 per cent, at 22,539, signaling that Dalal Street was headed for positive start on Monday.
- Tech View: The near-term uptrend of Nifty remains intact with high volatility. The next upside levels to be watched are around 22500-22600 in the next week. Immediate support is at 22250-22200 levels, said Nagaraj Shetti of HDFC Securities.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 1.02% to settle at 12.83 levels.
mixed
The S&P 500 closed out the week with slight gains on Thursday, with the benchmark index notching its strongest first quarter in five years, as investors digested the latest batch of economic data while looking towards the next inflation reading.
- Dow up 0.12%,
- S&P 500 rises 0.11%,
- Nasdaq down 0.12%
Dollar steady
The dollar was broadly steady on Monday as data showing easing U.S. prices bolstered bets that the Federal Reserve could cut interest rates in June, while the yen loitered near 152 per dollar keeping traders on edge on the threat of intervention.
Oil dips
Oil prices edged down slightly on Monday, holding on to most of their recent gains amid expectations of tighter supply from OPEC+ cuts, attacks on Russian refineries and upbeat Chinese manufacturing data.
Stocks in F&O ban today
1) 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
FII/DII action
Foreign portfolio investors turn marginal net buyers at Rs 188 crore on Thursday. DIIs, meanwhile, bought shares worth Rs 2,691 crore.
Rupee
The rupee fell 6 paise to settle at 83.39 (provisional) against the US dollar on Thursday due to a strengthening greenback against major rivals overseas and rising crude oil prices in the international markets.
FII data
The net short of FIIs increased from Rs 90,796 crore on Wednesday to Rs 23,851 crore on Thursday.
Source: Stocks-Markets-Economic Times
