Benchmark indices were volatile on expiry day as Nifty ended 58 points lower, while the Sensex was down by 250 points. Analysts say the intraday market texture is non-directional and hence, levels-based trading would be the ideal strategy for day traders.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded lower by 25.50 points, or 0.10 per cent, at 25,752, signaling that Dalal Street was headed for a muted start on Wednesday.

• Tech View: From a technical standpoint, the index continues to attract buying interest near lower levels, as reflected by its ability to reclaim and hold the 25,700 demand zone. The formation of consecutive candlesticks with long lower shadows near support indicates dip-buying activity, suggesting that bullish participants have not entirely exited the market.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 1.5% to settle at 11.20 levels.

Asian shares gain
Asian shares posted a modest gain at the open, while Japanese equities extended their record-breaking run fueled by a weaker yen.

• S&P 500 futures were little changed as of 9:27 a.m. Tokyo time
• Hang Seng futures rose 0.2%
• Japan’s Topix rose 0.5%
• Australia’s S&P/ASX 200 was little changed
• Euro Stoxx 50 futures rose 0.2%

US stocks end lower
U.S. ⁠stocks ended lower on Tuesday, led by a drop in financial shares as comments from JPMorgan executives added to worries about U.S. President Donald Trump’s recent proposal for a cap on credit-card rates.

• Dow down 0.8%,
• S&P 500 dips 0.2%,
• Nasdaq falls 0.1%

Dollar rebounds
The U.S. dollar recovered ground to near a one-month high in ⁠early Asian trade on Wednesday after U.S. CPI data that was broadly in line with estimates, firming up expectations that the Federal Reserve will remain on hold later this month despite unprecedented pressure from the White House to lower interest rates.

Stocks in F&O ban today

SAIL
Sammaan Capital

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 1,500 crore on Tuesday. DIIs, meanwhile, were net buyers at Rs 1,182 crore.

Rupee
The rupee declined 6 paise to close at 90.23 against the US dollar on Tuesday, as a rebound in crude oil and high metal prices, coupled with a cautious market environment, dented investor sentiments.

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