STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded lower by 26.50 points, or 0.11 per cent, at 24,338.50, signaling that Dalal Street was headed for a muted start on Wednesday.
- Tech View: On the downside, immediate support is placed at 24150; a break below this level could trigger renewed selling pressure. If the index slips below 24150, it may decline further towards 23800.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 19% to settle at 18.90 levels.
US stocks end mixed
U.S. stocks lost steam on Tuesday, with the S&P 500 giving up early gains to skid into negative territory as investors weighed fading hopes for an earlier-than-expected end to the U.S.-Israeli war on Iran against a backdrop of renewed military threats and ongoing worries of economic stagflation.
- Dow off 0.07%,
- S&P 500 down 0.21%,
- Nasdaq up 0.01%
Asian shares gain
Asian shares rose 0.8% at the open, while sentiment for the artificial intelligence trade got a boost as Oracle Corp. shares jumped 8% in after-market trading on better-than-expected revenue.
- S&P 500 futures rose 0.2% as of 9:10 a.m. Tokyo time
- Hang Seng futures were little changed
- Japan’s Topix rose 1.5%
- Australia’s S&P/ASX 200 rose 0.6%
- Euro Stoxx 50 futures rose 2.6%
Gold rises
Gold rose on Wednesday as a retreat in oil prices eased inflation worries, while investors awaited a slew of U.S. economic data this week to gauge the Federal Reserve’s policy outlook.
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Dollar stable
The dollar held its ground on Wednesday as traders moved to the sidelines, awaiting cues on what comes next in the U.S.-Israeli war with Iran while mixed messages on a resolution to the conflict kept sentiment frail.
Oil choppy
Oil prices seesawed on Wednesday after the Wall Street Journal reported the International Energy Agency has proposed the largest release of oil reserves in its history to offset supply disruptions stemming from the war on Iran.
Stocks in F&O ban today
Samman Capital
SAIL
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 4,673 crore on Tuesday. DIIs, meanwhile, were net buyers at Rs 6,333 crore.
Rupee
The rupee staged a strong recovery from its record low against the US dollar on Tuesday, gaining 36 paise to settle at 91.85, aided by a sharp fall in global crude oil prices over hopes of de-escalation of the ongoing conflict in West Asia.
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