GIFT Nifty up 15 points; here's the trading setup for today's session

Markets ended the week lower, with benchmark indices declining around 1% amid rising concerns over artificial intelligence-led disruption and a sharp sell-off in technology stocks. With ongoing repricing in tech stocks and concerns around AI disruption, a selective and risk-managed approach remains advisable, say analysts.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded higher by 14 points, or 0.06 per cent, at 25,467.50, signaling that Dalal Street was headed for a muted start on Monday.

• Tech View: From a technical standpoint, the setup has turned relatively cautious, with the index slipping below its 20DMA for the first time in the past few sessions. Additionally, it has breached the 38.2% Fibonacci retracement of the prior upmove from 24,571 to 26,341.
• India VIX: India VIX, which is a measure of the fear in the markets, rose 15% to settle at 13.50 levels.

US stocks end mixed
The S&P 500 closed barely higher on Friday, supported by cooling inflation data, but the Nasdaq ended lower as heavyweight technology and communications services shares lost ground on nagging fears of disruption by artificial intelligence.

Asian stocks tepid
Asian equities swung between small gains and losses as benign US inflation data supported expectations that the Federal Reserve will cut interest rates this year, helping steady markets after concerns about disruption from the expansion of artificial intelligence.

• S&P 500 futures rose 0.2% as of 9:41 a.m. Tokyo time
• Nikkei 225 futures (OSE) were little changed
• Japan’s Topix fell 0.4%
• Australia’s S&P/ASX 200 was little changed
• Euro Stoxx 50 futures were unchanged

Gold dips
Gold edged lower on Monday as the dollar rose after bullion notched a more than 2% gain in the previous session, as cooler-than-expected U.S. inflation data lifted expectations for interest rate cuts by the Federal Reserve.

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 7,395 crore on Friday. DIIs, meanwhile, were net buyers at Rs 5554 crore.

Rupee
The rupee consolidated in a narrow range and settled for the day 5 paise lower at 90.66 against the US dollar on Friday, tracking the strength of the American currency in the overseas market and a negative trend in domestic equities.

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