Strong cues from GIFT Nifty point to a firm start for Dalal Street

Benchmark indices closed on a positive note on Friday, supported by buying interest in private banking stocks amid an early recovery in the Indian rupee. Going ahead, analysts say a failure to move above the breakdown area of 23,800-23,900, will keep the bias corrective and can lead to testing of the support area of 23,200-23,000. While a move above the breakdown area will signal pause in the downtrend and open upside towards 24,200 and 24,600 levels being the high of April 2026.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a gap-up start
GIFT Nifty on the NSE IX traded higher by 212 points, or 0.89 per cent, at 23,977, signaling that Dalal Street was headed for a gap-up start on Monday.

• Tech View: A sustained bullish outlook will be confirmed only if the index closes above the 55,000 mark. Till then, the current upmove should be viewed as a recovery. Support is placed at 53,500, while resistance stands at 54,200 and 54,600.

US Stocks end higher
Major stock indices advanced while Treasury yields declined on Friday, as investors assessed the prospects of a near-term agreement to bring an end to the U.S.-Israeli conflict with Iran.


Asian stocks gain
Asian shares and U.S. stock futures rose on Monday while the dollar and oil prices slipped as the prospect of a deal to end the Iran war buoyed risk appetite although a lack of clarity over when the Strait of Hormuz would open kept enthusiasm in check.

• S&P 500 futures rose 0.7% as of 9:52 a.m. Tokyo time
• Hang Seng futures fell 0.5%
• Japan’s Topix rose 1.5%
• Australia’s S&P/ASX 200 was little changed
• Euro Stoxx 50 futures rose 0.6%

Oil drops
Oil prices plunged over five percent and Asian markets ticked up early on Monday on hopes of a deal to end to the US-Iran war despite President Donald Trump downplaying its imminence.

Gold rises
Gold prices rose more than 1% on Monday, supported by a weaker dollar and lower oil prices, as investors weighed prospects of a breakthrough in U.S.-Iran peace negotiations.

Dollar slumps
The dollar slipped at the start of Asian trading on Monday as hopes of a deal to reopen the Strait of Hormuz pushed oil prices below $100 per barrel, even as the Trump administration played down the chances of reaching an agreement with Iran soon.

Stocks in F&O ban today

SAIL
Kaynes

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 4,440 crore on Friday. DIIs, meanwhile, were net buyers at Rs 6,003 crore.

Rupee
The rupee strengthened for a second straight session on Friday, rising 63 paise to close at 95.73 on the back of easing crude prices, positive equity markets, and softer US yields coupled with the intervention from central bank.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)