Nifty today: GIFT Nifty down 40 points; here’s the trading setup for today’s session

Markets ended their four-week winning streak, closing marginally lower amid profit-booking and mixed global cues. The upcoming holiday-shortened week is expected to remain eventful, with multiple key data releases and major corporate earnings lined up. On the macroeconomic front, attention will turn to the final readings of the HSBC Manufacturing and Services PMI data, which will offer cues on domestic growth momentum.

STATE OF THE MARKETS

GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 42.50 points, or 0.16 per cent, at 25,854.50, signaling that Dalal Street was headed for a negative start on Monday.

• Tech View: In the short term, the trend is likely to remain weak with the potential to decline towards 25,525. On the higher end, resistance is placed at 25,850, above which the trend may turn positive.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 0.7% to settle at 12.15 levels.

US stocks end higher
Wall Street’s main indexes ended higher on Friday, lifted by Amazon’s strong earnings forecast, though gains were capped as investor sentiment turned cautious amid concerns that the Federal Reserve may slow its pace of rate cuts.

Asian shares mixed
Asian shares were mixed with South Korea rising and Australia declining. Markets in Japan and cash trading of Treasuries were closed on Monday due to a holiday.

• S&P 500 futures rose 0.3% as of 9:18 a.m. Tokyo time
• Hang Seng futures rose 0.3%
• Australia’s S&P/ASX 200 fell 0.5%
• Euro Stoxx 50 futures rose 0.2%

Oil climbs
Oil prices climbed in early Asian trade on Monday after OPEC+ decided to hold off production hikes in the first quarter of next year, easing rising fears of a supply glut.Gold falls
Gold prices slipped on Monday, pressured by a stronger dollar as investors dialed back bets for further Federal Reserve rate cuts following Chair Jerome Powell’s hawkish remarks last week, while easing U.S.-China trade tensions also weighed on bullion. Dollar firm
The dollar firmed to a near three-month high on Monday as investors awaited the release of data this week to gauge the health of the U.S. economy and determine whether it could alter the Federal Reserve’s hawkish stance.

Stocks in F&O ban today

1) Samman 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 6,769 crore on Friday. DIIs, meanwhile, were net buyers at Rs 7,048 crore.

Rupee
The rupee pared intra-day losses to settle flat at 88.69 (provisional) against the American currency on Friday, as weak domestic equities and a firm US dollar in overseas markets offset the gains from lower crude oil prices.