GIFT Nifty down 30 points; here's the trading setup for today's session

Domestic markets extended gains for the third consecutive session, with Nifty jumping 181 points. Analysts expect markets to gain some momentum in the near term on the back of positive global cues, optimism around enhanced government spending and favourable monetary policy changes by the RBI.

Here's breaking down the pre-market actions:

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start

GIFT Nifty on the NSE IX traded lower by 27.50 points, or 0.11 per cent, at 24,506, signaling that Dalal Street was headed for negative start on Wednesday.

• Tech View: The sentiment is likely to remain in favor of the bulls as long as the index sustains above 24,400, with the potential to test levels of 24,600–24,700. On the downside, a fall below 24,400 could trigger a correction towards 24,150.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 2.23% to settle at 14.37 levels.

US stocks mixed
The S&P 500 and Nasdaq eked out record closing highs on Tuesday, with tech-related shares extending recent gains as investors awaited further jobs data. The Dow finished slightly lower on the day.

• Dow down 0.17%,
• S&P 500 rises 0.05%,
• Nasdaq up 0.40%

Asian shares fall
Stocks in Asia fell after South Korean President Yoon Suk Yeol’s shock decision to impose martial law, only to reverse course hours later, caught global markets off guard.

• S&P 500 futures were little changed as of 9:07 a.m. Tokyo time
• Hang Seng futures fell 0.1%
• Japan’s Topix was little changed
• Australia’s S&P/ASX 200 fell 0.4%
• Euro Stoxx 50 futures rose 0.9%
• Nasdaq 100 futures rose 0.2%

Euro Gains
The euro rose modestly against the U.S. dollar on Tuesday, as political turmoil in France sent traders scrambling for hedging protection against further price swings, with some market participants noting that the crisis could be nearing the end.


Stocks in F&O ban today

1) RBL Bank

2) Granules

3) Manappuram

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 turned net buyers at Rs 3,664 crore on Monday. DIIs sold shares worth Rs 251 crore.

Rupee
The rupee recovered from its all-time low level and settled for the day with gains of 4 paise at 84.68 against the US dollar in a range-bound trade on Tuesday, amid a positive trend in domestic equities.

FII data
The net short of FIIs reduced from Rs 1.24 lakh crore on Monday to Rs 97,387 crore on Tuesday.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)