GIFT Nifty down 115 points; here's the trading setup for today's session

Markets ended flat after a volatile session on monthly F&O expiry day. Going forward, indices will likely react to key economic data, including the US GDP data and initial jobless claims, followed by India's GDP growth numbers. Analysts say given the global negative cues, markets are expected to remain under pressure in the coming sessions.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 115 points, or 0.51 per cent, at 22,535.50, signaling that Dalal Street was headed for negative start on Friday.

• 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 3% to settle at 13.31 levels.

US stocks down
The S&P 500 and Nasdaq ended sharply lower on Thursday, weighed down by a slump in chipmaker Nvidia after its quarterly report failed to rekindle Wall Street's AI rally, while investors focused on data pointing to a cooling U.S. economy.

• S&P 500 -1.59%,
• Nasdaq -2.78%,
• Dow -0.45%

Asian shares fall
Asian equities fell Friday after heavy selling on Wall Street as traders grappled with underwhelming Nvidia Corp. results, further details on US tariffs and mixed economic data.

• S&P 500 futures rose 0.2% as of 9:05 a.m. Tokyo time
• Hang Seng futures rose 0.2%
• Japan’s Topix fell 1%
• Australia’s S&P/ASX 200 fell 0.9%
• Euro Stoxx 50 futures fell 1.2%

Gold gains
Gold edged higher on Friday but was set to snap an eight-week winning streak on a stronger dollar, while investors turned their focus to a key U.S. inflation data for cues into the Federal Reserve's monetary policy trajectory.

Stocks in F&O ban today

NIL

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 556 crore on Thursday. DIIs bought shares worth Rs 1,727 crore.

Rupee

Rupee settled almost flat with a marginal gain of 1 paisa at 87.18 against US dollar on Thursday amid a muted trend in domestic equity markets and persistent foreign fund outflows.

FII data

The net short of FIIs reduced from Rs 1.99 lakh crore on Tuesday to Rs 1.73 lakh crore on Thursday.