STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 37.50 points, or 0.15 per cent, at 25,298.50, signaling that Dalal Street was headed for positive start on Thursday.
- Tech View: The overall sentiment remains positive, with a possibility of a rise towards 25,350. Immediate support is placed at 25,000; a break below this level could lead to a drift towards 24,850. On the other hand, if the index holds above 25,000, strength may persist, and the sentiment could favour long traders.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 5% to settle at 12.97 levels.
Asian shares gain
Asian equities rose early Thursday, bolstered by Japanese stocks after a flat session on Wall Street as traders assessed simmering economic and geopolitical risks.
- S&P 500 futures were unchanged as of 9:21 a.m. Tokyo time
- Hang Seng futures fell 0.6%
- Japan’s Topix rose 0.2%
- Australia’s S&P/ASX 200 fell 0.2%
- Euro Stoxx 50 futures fell 0.8%
US stocks mixed
U.S. stocks took a breather on Wednesday, pausing a two-day rally as the tenuous Israel-Iran cease fire continued to hold and investors pored over a second day of congressional testimony from Federal Reserve Chair Jerome Powell.
- Dow down 0.25%,
- S&P 500 unchanged,
- Nasdaq up 0.31%
Oil rises
Oil prices inched higher, extending gains from the previous day as a larger-than-expected draw in U.S. crude stocks signalled firm demand, while investors remained cautious about the Iran-Israel ceasefire and stability in the Middle East.
Gold rises
Gold prices nudged higher on Thursday, supported by a softer dollar, as investors looked ahead to upcoming U.S. economic data for hints on the Federal Reserve’s potential direction on interest rates.
Dollar slips
The dollar eased to a fresh 3-1/2-year low on the euro on Thursday as concerns about the future independence of the U.S. Federal Reserve undermined faith in the soundness of the country’s monetary policy.
Stocks in F&O ban today
Titagarh
MCX
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 net sold shares worth Rs 2,427 crore on Wednesday. DIIs, meanwhile, were net bought at Rs 2,373 crore.
Rupee
The rupee gained 13 paise to 85.92 against the US dollar in early trade on Wednesday amid hopes of an end to hostilities between Israel and Iran, and a strong opening in domestic equity markets.
FII data
The position of FIIs in the futures market reduced from a net short of Rs 1.09 lakh crore on Tuesday to Rs 1.06 lakh crore on Wednesday.
