D-Street braces for weak opening on negative GIFT Nifty cues

Domestic equities ended largely flat, with the Nifty gaining 0.05%. Analysts say Indian equities are expected to witness a gradual upmove, supported by hopes of a potential resolution in the West Asia and a better-than-expected Q1FY27 earnings season. Brent crude prices slipped below $80 per bbl amid optimism that progress in Iran-Oman talks could pave the way for a US-Iran peace agreement, easing concerns around energy prices. Investors will also track key Q1 earnings from SBI, Titan, Hindalco, Hitachi Energy and Godrej Consumer, along with the US jobs data due on Friday.

STATE OF THE MARKETS

GIFT Nifty (Earlier SGX Nifty) signals a negative start


GIFT Nifty on the NSE IX traded lower by 93 points, or 0.38 per cent, at 24,655, signaling that Dalal Street was headed for a negative start on Friday.


Tech View: In the near term, as long as the Nifty sustains above 24,600, it has the potential to move towards 24,800. A sustained breakout above 24,800 could trigger a fresh directional rally and strengthen the bullish momentum.

India VIX: India VIX, which is a measure of the fear in the markets, rose 0.8% to settle at 12.16 levels.

Asian shares mixed
Treasuries held their losses ahead of the key US jobs data report. A Bloomberg gauge of the dollar’s strength was little changed after posting its biggest gain in two weeks during the New York session. Asian stocks swung between minor gains and losses.

US stocks down
The Dow and S&P 500 indexes closed lower on Thursday, pausing after a strong start to the week, as investors digested the latest round of corporate earnings and looked for signs of progress toward a peace deal between the U.S. and Iran.

Oil rises
Oil continued its rise on Friday amid further concerns ​around the opening of the ​Strait of Hormuz as Iran, working with Oman, suggested banning ​vessels deemed hostile from the strait and heavily fining those who violated the proposed rules.

Gold steady
Gold steadied on Friday and was on track for its biggest ​weekly gain since January, ​helped by weaker oil prices, while investors awaited key U.S. ​nonfarm payrolls data for clues on the interest rate outlook.

Read Also: Ahead of Market: 10 things that will decide stock market action on Friday

Stocks in F&O ban today
1) LIC
2) Bandhan 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.

Rupee
The rupee depreciated 14 paise to close at 95.22 against the US dollar on Thursday, on slight gains in the US Dollar Index and a modest increase in US Treasury yields.

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