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

Domestic equities witnessed a strong rebound following the PM's announcement of second-generation GST reforms in his Independence Day address.

"A combination of policy reforms (GST 2.0), sovereign rating upgrade, potential tariff relief, RBI and government stimulus, monsoon-led consumption revival and festive demand could trigger a strong recovery in the corporate earnings in 2HFY26. Thus, we maintain a positive view on Indian equities over the next 6-9 months," said Siddhartha Khemka - Head Of Research, Wealth Management, Motilal Oswal.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 25 points, or 0.10 per cent, at 24,988, signaling that Dalal Street was headed for positive start on Tuesday.

• Tech View: A further leg of the upmove will depend on Nifty’s ability to cross its 50-DMA, which coincides with the 25,000 mark. The overall structure remains positive, with potential upside towards 25,300–25,500 in the August series. Momentum indicators and oscillators have turned supportive, indicating scope for follow-up buying in the coming sessions.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 0.1% to settle at 12.34 levels.

US stocks end flat
Wall Street's main indexes closed roughly flat on Monday, after struggling for direction while investors awaited a raft of corporate earnings reports from major retailers for more signs about the state of the economy and the Federal Reserve's annual symposium in Jackson Hole.

Asian shares subdued
Asian stocks struggled for direction at the open after the S&P 500 closed little changed. The yield on 10-year Treasuries rose two basis points on Monday, while the Bloomberg Dollar Spot Index added 0.2%.

• S&P 500 futures were little changed as of 8:34 a.m. Tokyo time
• Hang Seng futures rose 0.1%
• S&P/ASX 200 futures fell 0.3%

Dollar steady
The U.S. dollar held steady against its major peers on Tuesday as global markets awaited the outcome of a White House summit with European nations that could determine the next phase of the war in Ukraine.

Oil slips
Oil prices slipped in early Asian trade on Tuesday as market participants contemplated planned three-way talks among Russia, Ukraine and the U.S. to end the war in Ukraine, which could lead to an end to sanctions on Russian crude.

Gold little changed
Gold prices were little changed on Tuesday as investors focussed on the Federal Reserve's Jackson Hole meeting later this week, which could provide insights into the U.S. central bank's trajectory of interest rate policy.



Stocks in F&O ban today

RBL Bank
PGEL
Titagarh

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 net sold shares worth Rs 551 crore on Monday. DIIs, meanwhile, were net buyers at Rs 4,104 crore.

Rupee
The rupee appreciated 20 paise to close at 87.39 against the US dollar on Monday, supported by strong domestic equities.

FII data
The position of FIIs in the futures market reduced from a net short of Rs 1.82 lakh crore on Thursday to Rs 1.71 lakh crore on Monday.