GIFT Nifty up 200 points; here's the trading setup for today's session

Indian equities extended losses for the third consecutive session on Wednesday. Stock-specific action is expected around quarterly results from IndiGo, DLF, Indian Bank and Coforge. Analysts expect the Nifty to trade sideways, tracking ongoing earnings and global cues post Trump speech at Davos.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 199 points, or 0.79 per cent, at 25,362, signaling that Dalal Street was headed for a gap-up start on Thursday.

• Tech View: A decisive fall below 25,125 could trigger further panic in the market. On the higher end, resistance on a closing basis is placed at 25,200.
• India VIX: India VIX, which is a measure of the fear in the markets, rose 8.5% to settle at 13.78 levels.

US stocks end higher
All three Wall Street benchmarks closed ⁠higher on Wednesday, buoyed by the news that a framework for an agreement on Greenland had been reached, averting the possibility of new U.S. tariffs on European allies.

• Dow up 1.21%,
• S&P 500 gains 1.16%,
• Nasdaq rises 1.18%

Asian shares gain
Asian stocks followed Wall Street higher after US President Donald Trump’s comments about a “framework” deal with NATO over Greenland eased concerns that had fueled market volatility. Gold and silver fell.

• S&P 500 futures rose 0.2% as of 9:01 a.m. Tokyo time
• Hang Seng futures rose 0.2%
• Japan’s Topix rose 0.9%
• Australia’s S&P/ASX 200 rose 0.7%
• Euro Stoxx 50 futures were little changed

Stocks in F&O ban today
Bandhan Bank
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 1,788 crore on Wednesday. DIIs, meanwhile, were net buyers at Rs 4,520 crore.

Rupee
The rupee plunged 68 paise to close at an all-time low of 91.65 against the American currency on Wednesday, pressured by persistent foreign fund outflow amid heightened uncertainty and risk-off sentiment in global markets.

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