Markets poised for a cautious start as GIFT Nifty trades flat

Domestic markets traded positively on Thursday, with the Nifty 50 advancing nearly 1% from the day's low, supported by lower energy prices, appreciation in the rupee and favourable global cues. Analysts say Indian equities are expected to trade with a positive bias, with the Nifty sustaining above the 24,000 level, supported by firm geopolitical cues, soft crude oil prices, and strengthening rupee.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded higher by 2 points, or 0.01 per cent, at 24,098.50, signaling that Dalal Street was headed for a muted start on Monday.

• Tech View: The Nifty remained volatile during the session amid the BSE F&O expiry on Thursday, as the index failed to break out above the falling trendline on the daily timeframe. However, the overall trend continues to remain positive, with the index sustaining above the short-term moving average (50EMA).
• India VIX: India VIX, which is a measure of the fear in the markets, fell 2.05% to settle at 13.05 levels.

Asian shares fall, US futures up
US equity-index futures climbed after reports the US and Iran backed away from a fresh escalation of their conflict, easing concerns over the fragile ceasefire underpinning peace talks. Asian shares slipped 0.2% in early trading. South Korea’s Kospi Index, the world’s best-performing major stocks gauge this year, fell 1.6% with investors focused on Monday’s planned unveiling of a sweeping growth strategy.

• S&P 500 futures rose 0.4% as of 9:02 a.m. Tokyo time
• Hang Seng futures rose 1%
• Japan’s Topix rose 0.3%
• Australia’s S&P/ASX 200 rose 0.3%
• Euro Stoxx 50 futures fell 0.7%

Oil climbs
Oil prices rose on Monday following days of tit-for-tat strikes by the United States and Iran in the Middle East that underscored the fragility of their interim peace deal and again slowed energy shipping in the Strait of Hormuz.

Gold slips
Gold prices slipped on Monday as renewed U.S.-Iran hostilities pushed oil prices higher, while expectations of U.S. Federal Reserve interest rate hikes further weighed on the metal.

Stocks in F&O ban today

1) 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.

Rupee
The Indian rupee closed modestly stronger at 94.39 on Thursday and for the week as falling oil prices improved sentiment alongside signs of a pickup in foreign portfolio inflows, while caution lingered over the prospect of US rate hikes.

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