GIFT Nifty up 5 points; here's the trading setup for today's session

Indian equities witnessed selling pressure to close flat on Monday amidst mixed global cues and cautiousness ahead of RBI’s MPC decision on Wednesday. Going forward, analysts expect markets to consolidate in the near term, tracking global headwinds, and key macroeconomic data.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded higher by 5 points, or 0.02 per cent, at 24,692, signaling that Dalal Street was headed for a muted start on Tuesday.

• Tech View: While a pullback is possible, a decisive move above the 24,800 level is crucial to trigger a short-covering rally towards the 25,000 mark. On the downside, immediate support is seen at 24,600, followed by 24,500.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 0.53% to settle at 11.36 levels.

US stocks close higher
Wall Street indexes closed up on Monday with the Nasdaq leading gains as investors bought heavyweight technology stocks and shrugged off the uncertainty of a potential U.S. government shutdown and hawkish remarks from Federal Reserve officials.

• Dow up 0.15%,
• S&P 500 rises 0.26%,
• Nasdaq gains 0.48%

Gold hits record high
Gold edged higher to a fresh record as the prospect of a looming US government shutdown clouded the Federal Reserve’s monetary policy path ahead of next month’s interest-rate decision.

Oil falls
Oil prices fell on Tuesday as another anticipated production increase by OPEC+ and the resumption of oil exports from Iraq's Kurdistan region via Turkey reinforced the outlook for a looming supply surplus.

Stocks in F&O ban today

1) RBL Bank
2) Samman Capital

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 2,831 crore on Monday. DIIs, meanwhile, were net buyers at Rs 3,846 crore.

Rupee
Rupee consolidated in a narrow range and settled for the day lower by 7 paise at its all-time closing low of 88.79 against US dollar on Monday, on persistent foreign capital outflows and rise in risk-off sentiments.