“Among the sectoral indices, defensive like pharma and FMCG are showing resilience while we are seeing pressure across the board. Signs point to a potential further decline, so traders should exercise caution and remain selective,” said Ajit Mishra – SVP, Research, Religare Broking
Here’s breaking down the pre-market actions:
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded lower by 12.5 points, or 0.05 per cent, at 23,802.50, signaling that Dalal Street was headed for muted start on Thursday.
- Tech View: For the upcoming monthly expiry, the 23,900–24,000 zone remains a critical hurdle, and a break beyond this range is required to spark positive momentum leading into the year-end. On the downside, the 23,600–23,500 range, representing the lower end of last Friday’s bearish candle, serves as immediate support, says Osho Krishnan of Angel One
- India VIX: India VIX, which is a measure of the fear in the markets, fell 2.5% to settle at 13.18 levels.
US stocks gain
Wall Street’s main indexes all closed higher on Tuesday, with gains in megacap and growth stocks bolstering benchmarks in a truncated Christmas Eve session.
Asian shares rise
Asia’s benchmark stock index rose as equities gained in Japan and South Korea, while several other regional markets remain shut for holidays. Sentiment was boosted after US shares extended this year’s rally on Tuesday.
- S&P 500 futures were little changed as of 9:28 a.m. Tokyo time
- Japan’s Topix rose 0.3%
Gold up
Gold inched higher on Thursday in holiday-thinned trade, as investors focused on the U.S. Federal Reserve’s interest rate strategy and anticipated tariff policies under President-elect Donald Trump, both of which could influence the metal’s direction in the coming year.
Stocks in F&O ban today
1) RBL Bank
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 turned net sellers at Rs 2,454 crore on Tuesday. DIIs bought shares worth Rs 2819 crore.
Rupee
The rupee extended the slide for the second straight session and depreciated 4 paise to settle at a fresh all-time low of 85.15 against the US dollar on Tuesday.
FII data
The net short of FIIs increased from Rs 1.56 lakh crore on Monday to Rs 1.72 lakh crore on Tuesday.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
