D-Street set for a bright start as GIFT Nifty signals gains; key levels to watch

Indian markets came under pressure on Thursday, as escalating tensions in West Asia continued to weigh on sentiment. Analysts say markets are expected to remain under pressure in the near term, with stalled US–Iran negotiations, continued naval blockades, and Iran's seizure of two ships keeping risk sentiment fragile. Until there is credible de-escalation, the overhang on crude, the rupee, and institutional flows is unlikely to lift.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 69.50 points, or 0.29 per cent, at 24,227, signaling that Dalal Street was headed for a positive start on Friday.

• Tech View: On Friday, if Nifty falls below 24,150 decisively, it might decline towards 23,900. However, if it moves above 24,200, it could rise towards 24,500–24,600. A decisive breakout from the 24,150–24,200 range is required to witness a directional move in the index.
• India VIX: India VIX, which is a measure of the fear in the markets, rose 1.6% to settle at 18.59 levels.

US Stocks end lower
U.S. stocks fell in choppy trading on Thursday as hopes dimmed for a quick end to the Iran war, while investors grappled with a mixed bag of earnings reports as concerns resurfaced about AI-driven disruption across the software sector.

Asian shares down
Asian equities opened lower as concerns grew that US-Iran talks were making little progress toward de-escalating the Middle East conflict, keeping the Strait of Hormuz effectively closed. Oil rose.

• S&P 500 futures rose 0.2% as of 9:07 a.m. Tokyo time
• Hang Seng futures fell 0.5%
• Japan’s Topix rose 0.3%
• Australia’s S&P/ASX 200 fell 0.3%
• Euro Stoxx 50 futures fell 0.2%

Oil rises
Oil prices rose on Friday morning over fears of renewed military escalation in the Middle East after Iran released footage of commandos boarding a cargo ship in the Strait of Hormuz and on reports Tehran's air defences had engaged "hostile targets".

Dollar gains
The dollar was on track for its first weekly gain in three weeks on Friday, as stalled peace negotiations between the U.S. and Iran dampened hopes for an immediate easing of Middle East tensions.

Gold steady
Gold held steady on Friday, but was on track for a weekly drop as elevated oil prices fuelled fears of inflation and higher-for-longer interest rates amid stalled U.S.-Iran peace talks.

Stocks in F&O ban today

SAIL

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 3,254 crore on Thursday. DIIs, meanwhile, were net sellers at Rs 940 crore.

Rupee
The rupee extended its losing streak for the fourth consecutive session, settling 23 paise lower at 94.01 on Thursday and breached the 94-level for the second time in a month amid soaring crude oil prices as West Asia peace talks moved to an uncertain trajectory.

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