D-St set for a positive opening as GIFT Nifty signals firm start

The Indian stock market remained mostly muted on Tuesday, with Sensex and Nifty erasing early gains to close in the red after a sharp rally in the earlier session. Sensex lost 70 points to close at 76,766, while Nifty 50 fell nearly 11 points to end the session at 23,985. Broader markets remained mixed, with Nifty Smallcap 100 closing in the red and Nifty Midcap 100 index ending in the green.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 166 points, or 0.69 per cent, at 24,257.50, signaling that Dalal Street was headed for a positive start on Wednesday.

Tech View: Going forward, a decisive move above Tuesday's high of 24,041 would confirm renewed buying momentum and could pave the way for an up move towards the 24,170–24,250 zone in the coming sessions, said Bajaj Broking. It added that failure to surpass this level is likely to keep the index in a consolidation phase.


“On the downside, a breach below Monday's gap area (23,823–23,891) would signal weakening momentum and could trigger a corrective move towards the 23,500–23,600 support zone. This area is significant as it represents the confluence of the trendline support connecting the April and June 2026 lows, the bullish gap formed on 15 June 2026, and the 61.8% Fibonacci retracement of the recent up move from 23,070 to 24,530,” it further said.

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India VIX: India VIX, which is a measure of the fear in the markets, inched down slightly to settle at 12.56 level.

Asian shares mixed
Crude oil jumped and US equity-index futures fell after fighting erupted in the Middle East, reigniting tensions after several days of calm and reviving concerns over energy supplies. Asian shares were trading mixed

• S&P 500 futures fell 0.1% as of 8:04 a.m. Tokyo time
• Hang Seng futures rose 0.5%
• S&P/ASX 200 futures rose 0.8%

S&P 500 ends higher
The S&P 500 ended higher on Tuesday as gains in Boeing and Coca-Cola helped offset tumbling chip stocks ahead of quarterly reports from Apple and other tech companies this week.

Oil rises
Oil prices rose by more than $2 a barrel in early trade on Wednesday on shrinking U.S. crude inventories, recouping some of the previous session's losses caused by a pause in fighting between Washington and Tehran.

Dollar steady
The U.S. dollar was perched near a one-month high on Wednesday, buoyed by safe-haven flows after hostilities flared anew in the Middle East, while traders awaited a key Federal Reserve interest rate decision later in the day.

Gold dips
Gold prices inched lower on Wednesday as the dollar held firm and market participants awaited the Federal Reserve's policy decision for clues on inflation and the path of U.S. interest rates.

Rupee
The Indian rupee stayed on an upward track for the third straight session and ended 11 paise higher at 95.88 against the US dollar on Tuesday, supported by lower crude oil prices amid signals of easing West Asia crisis. “The easing in crude prices has improved sentiment for the domestic currency by reducing concerns over India's import bill and inflation outlook. Additionally, FII selling pressure remained limited in the domestic capital markets, providing further support to the rupee. Going forward, the rupee will continue to take cues from crude oil prices, the US Dollar Index, FII flows, and the upcoming US Federal Reserve policy decision. Technically, the rupee is expected to trade in the 95.50–96.25 range in the near term,” said Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities.

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