Bears loom over D-Street again; Gift Nifty hints at negative start. Key levels to watch

Indian equities ended higher on Monday, with Nifty rising 0.8%. Analysts say markets are expected to maintain their gradual upmove, supported by hopes of a resolution, positive global cues and sector or stock-specific news flows driving broader market action. Renewable energy, metals and mining stocks are likely to remain in focus, while summer-related plays may continue to benefit from demand across air conditioners, fans, cold beverages, packaged water and power equipment.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 44.50 points, or 0.18 per cent, at 24,048.50, signaling that Dalal Street was headed for a negative start on Tuesday.

• Tech View: Going forward, the index might continue to face resistance at 24,115–24,150. A decisive move above 24,150 is required to witness a sustained rally towards higher levels. On the lower end, support is placed at 24,000, below which weakness might increase.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 6% to settle at 18.38 levels.

S&P 500, Nasdaq end higher
The S&P 500 and the Nasdaq eked out modest gains on Monday in muted trading, as investors took a breath at the top of an eventful week, with earnings, economic data, the U.S. Federal Reserve's rate decision and the ebb and flow of Middle East tensions all crowding the docket.

Asian shares rise
Asian stocks held near their highest level since late February as traders awaited developments in the Middle East, alongside a slew of central bank decisions and earnings from major technology companies. Crude oil edged lower.

• S&P 500 futures rose 0.2% as of 9:09 a.m. Tokyo time
• Hang Seng futures fell 0.2%
• Japan’s Topix rose 0.4%
• Australia’s S&P/ASX 200 fell 0.6%
• Euro Stoxx 50 futures fell 0.4%

Oil gains
Oil prices extended their gains on Tuesday as efforts to end the U.S.-Iran war appear stalled, with the crucial Strait of Hormuz waterway still mainly shut, keeping energy supplies from the key Middle East producing region out of the reach of global buyers.

Gold steady
Gold held steady on Tuesday as investors awaited more clarity on stalled peace talks between the United States and Iran, as well as key central bank decisions this week to see if the Middle East conflict has altered the interest rate outlook

Yen up
The Japanese yen steadied in the Asian morning on Tuesday ahead of the Bank of Japan's latest policy decision, the first in a busy week for major central banks including the Federal Reserve as the Iran war loomed large over policymakers and markets.

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 1,151 crore on Monday. DIIs, meanwhile, were net buyers at Rs 4,124 crore.

Rupee
The rupee settled with gains of just one paisa to close at 94.15 against the US dollar on Monday, as rising global uncertainty, escalating tensions in West Asia and soaring crude oil prices weighed on investor sentiments.

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