GIFT Nifty up 100 points; here's the trading setup for today's session

Indian equities snapped six-day winning streak as investors turned cautious. Profit booking also weighed on markets, amid caution ahead of the approaching secondary tariff agreement deadline.

Analysts expect Indian equities to remain supported by optimism around GST 2.0 reforms and domestic macro strength. Globally, clarity on US tariff actions against India and upcoming GDP data from both India and the US will shape investor sentiment.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 97 points, or 0.39 per cent, at 24,975.50, signaling that Dalal Street was headed for a positive start on Monday.

• Tech View: At this stage, the index remains under pressure, with a breach below 54,900 likely to extend the decline towards 54,400. On the other hand, a move above the psychological mark of 56,000 could trigger a short-covering rally towards 56,500–57,000.
• India VIX: India VIX, which is a measure of the fear in the markets, rose 2.9% to settle at 11.70 levels.

Dow ends higher
The Dow Jones Industrial Average surged 846.24 points, or 1.89%, to 45,631.74, topping its previous record close from December 4, 2024. The S&P 500 advanced 96.74 points, or 1.52%, to finish at 6,466.91, while the Nasdaq Composite jumped 396.22 points, or 1.88%, to 21,496.54.

Asian shares gain
Asian equities gained at the open, tracking Wall Street’s rally, after Federal Reserve Chairman Jerome Powell opened the door to resuming interest rate cuts.

• S&P 500 futures were little changed as of 9:48 a.m. Tokyo time
• Japan’s Topix rose 0.4%
• Australia’s S&P/ASX 200 rose 0.7%
• Euro Stoxx 50 futures fell 0.2%

Dollar struggles
The U.S. dollar attempted on Monday to pull itself up from a four-week low on the euro after a dovish pivot from Federal Reserve Chair Jerome Powell sent it tumbling more than 1%.

Oil climbs
Oil prices edged higher on Monday after Ukraine stepped up attacks on Russia, fanning concerns Russian oil supply could be disrupted, while expectations of a cut in U.S. interest rates buoyed the outlook for global growth and fuel demand.

Stocks in F&O ban today

PGEL
RBL 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 fell 27 paise to close at 87.52 against the greenback on Friday as domestic equity markets ended weaker and the US dollar strengthened ahead of the speech of Fed Chairman Jerome Powell.

FII data
The position of FIIs in the futures market increased from a net short of Rs 1.68 lakh crore on Thursday to Rs 1.71 lakh crore on Friday.