GIFT Nifty down 70 points; here's the trading setup for today's session

Indian equity markets declined for a second consecutive session amid profit-booking in heavyweight stocks and renewed geopolitical concerns. Analysts expect the market to trade sideways, with tussle between positive Q3 business updates being weighed down by geopolitical uncertainty.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 72.50 points, or 0.28 per cent, at 26,208.50, signaling that Dalal Street was headed for a negative start on Wednesday.

• Tech View: The Nifty has slipped as weakness continues to prevail after the formation of a new lifetime high yesterday. On the lower end, it found intraday support around 26100. The trend looks likely to remain range-bound in the near term.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 0.05% to settle at 10.02 levels.

US stocks end higher
Wall Street ended higher on Tuesday, as chip stocks surged on renewed AI optimism, ⁠Moderna rallied and the Dow Jones Industrial Average reached a record high.

• S&P 500 +0.62%,
• Nasdaq +0.65%,
• Dow +0.99%

Asian shares slip
Asian stocks, off to their best-ever start to a year, took a breather Wednesday with Japanese equities slipping amid rising tensions with China.

• S&P 500 futures were unchanged as of 9:13 a.m. Tokyo time
• Hang Seng futures fell 0.1%
• Japan’s Topix fell 0.5%
• Australia’s S&P/ASX 200 rose 0.2%
• Euro Stoxx 50 futures rose 0.2%

Stocks in F&O ban today
SAIL
Sammaan 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 107 crore on Tuesday. DIIs, meanwhile, were net buyers at Rs 1749 crore.

Rupee
The rupee snapped its four-day losing streak and appreciated by 12 paise to settle at 90.18 against the American currency on Tuesday, driven by foreign banks' dollar supply and a tentative return of inflows from foreign funds.

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