GIFT Nifty down 20 points; here's the trading setup for today's session

After being in the green for most part of the trading session on Tuesday, Nifty ended marginally on the back of mixed global cues.

"Amidst global uncertainty and persistent FII selling, we expect the market to remain subdued until there is clarity/stability with regards to Trump’s tariff policies and its implementation," said Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded lower by 23.50 points, or 0.10 per cent, at 22,597, signaling that Dalal Street was headed for muted start on Thursday.

• Tech View: The support level at 22500-22400 appears to be crucial for the Nifty50 index in the near future and requires careful observation. Its ability to hold may determine whether a rebound is possible or if further declines are imminent. Conversely, a bearish gap at 22670-22720 presents a significant obstacle for the expiry day, which is expected to hinder any potential recovery efforts, says Osho Krishnan, Sr. Analyst, Technical & Derivatives of - Angel One.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 5.4% to settle at 13.72 levels.

US stocks end flat
The S&P 500 ended little changed on Wednesday ahead of quarterly results from Nvidia, whose positive outlook could set the tone for the artificial intelligence sector.

• Dow down 0.43%;
• S&P 500 up 0.01%;
• Nasdaq up 0.26%

Asian stocks mixed
Asian equities traded in a tight range at the open after earnings from Nvidia Corp. failed to rally the stock in after-market hours and new tariff announcements from President Donald Trump caused confusion.

• S&P 500 futures were little changed as of 9:08 a.m. Tokyo time
• Hang Seng futures fell 0.5%
• Japan’s Topix rose 0.1%
• Australia’s S&P/ASX 200 rose 0.6%
• Euro Stoxx 50 futures rose 1.5%

Gold gains
Gold prices edged higher on Thursday as concerns persisted over U.S. President Donald Trump's tariff plans, while investors awaited a key inflation report to assess the Federal Reserve's policy path. FUNDAMENTALS

Stocks in F&O ban today

1) 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 sellers at Rs 3,529 crore on Tuesday. DIIs bought shares worth Rs 3,031 crore.

Rupee
The rupee fell sharply by 47 paise to settle at 87.19 against the US dollar on Tuesday due to month-end dollar demand by importers amid uncertainty over US trade tariffs.

FII data
The net short of FIIs reduced from Rs 2 lakh crore on Monday to Rs 1.99 lakh crore on Tuesday.