GIFT Nifty down 65 points; here's the trading setup for today's session

Indian Equity markets ended higher on Wednesday amid positive global cues and investor optimism around the finalisation of the India-EU Free Trade Agreement. Looking ahead, analysts expect the positive market momentum over the last two days could continue, supported by positive sentiments around the India-EU FTA and the upcoming Budget, while tracking global cues and the ongoing Q3 earnings season.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 65 points, or 0.26 per cent, at 25,361, signaling that Dalal Street was headed for a negative start on Thursday.

• Tech View: The overall structure remains positive, with scope for the up-move to extend towards the 25,500–25,600 zone, where the immediate hurdle of the 100-DMA is placed at 25600 levels.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 6% to settle at 13.52 levels.

Nasdaq ends higher

The Nasdaq rose slightly ⁠with a boost from chip stocks while the S&P 500 closed virtually unchanged on Wednesday as investor reactions were muted after the Federal Reserve kept interest rates unchanged as expected and gave little indication when borrowing costs might fall again.

• Dow up 0.02%,
• S&P 500 down 0.01%,
• Nasdaq rises 0.17%

Asian shares mixed
Stocks lost momentum with contracts for the S&P 500 Index falling as much as 0.3%. Megacap tech earnings were varied after the Wall Street session was mixed, while Asian shares were a touch lower.

• S&P 500 futures fell 0.1% as of 10:03 a.m. Tokyo time
• Hang Seng futures fell 0.9%
• Nikkei 225 futures (OSE) fell 0.4%
• Japan’s Topix fell 0.1%
• Australia’s S&P/ASX 200 fell 0.8%
• Euro Stoxx 50 futures were little changed

Gold extends rally
Spot gold extended ⁠its record-breaking rally on Thursday, edging closer to the $5,600-per-ounce level as investors sought safety amid geopolitical and economic strains, while silver came within a whisker of breaching the $120 mark.


Stocks in F&O ban today

NIL

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 bought shares worth Rs 480 crore on Thursday. DIIs, meanwhile, were net buyers at Rs 3,360 crore.

Rupee
The rupee depreciated 31 paise to settle at 91.99 against the US dollar on Wednesday, touching the lowest closing level for the second time in less than a week, amid increased month-end demand for the greenback.

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