GIFT Nifty signals muted start for Dalal Street amid cautious trade

Domestic markets witnessed a volatile session on Tuesday ahead of the monthly expiry, with benchmark indices surrendering early gains as the Nifty closed lower at 23,866. Analysts say Indian equities are expected to witness a mixed trend amid geopolitical uncertainties in West Asia. Although ceasefire negotiations continue in Qatar, recent military strikes have dampened expectations of a durable truce, keeping investor sentiment cautious despite lower crude oil prices.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded lower by 17.5 points, or 0.07 per cent, at 23,987, signaling that Dalal Street was headed for a muted start on Wednesday.

• Tech View: Going forward, the new series may begin with the Nifty hovering around the 24,000 mark. Any meaningful move away from this level could provide clues about the index's next directional trend. If the Nifty breaks decisively below 23,800, it may witness a meaningful correction. However, if it manages to hold above 23,800, a decent recovery could unfold in the near term.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 0.073% to settle at 13.60 levels.

US stocks end higher
The S&P 500 and Nasdaq finished out the quarter with their biggest quarterly gains since 2020 as investors remained upbeat about economic and earnings growth even amid the Middle East conflict. Dow notched a record high close, and Nasdaq ends the second quarter 21% higher on the AI boom.

Asian stocks rise
Asian equities rose Wednesday after capping their best quarter in 17 years, as a rally in chipmakers and signs of US economic resilience fueled optimism about corporate earnings.

• S&P 500 futures were little changed as of 9:06 a.m. Tokyo time
• Hang Seng futures rose 0.6%
• Japan’s Topix rose 1.3%
• Australia’s S&P/ASX 200 was little changed
• Euro Stoxx 50 futures rose 1.5%

Oil gains
Oil prices rose in early trade on Wednesday as investors responded to news that Iran will not be meeting with U.S. envoys, a further strain on the interim ceasefire agreed between the two in the four-month-long war.

Yen sinks
The dollar got a boost from a sharp rise in Treasury yields and pushed the yen to a 40-year trough on Wednesday, as traders braced for a crucial U.S. jobs report and ramped up bets on an imminent Federal Reserve rate hike.


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 rupee depreciated by 14 paise to close at 94.65 (provisional) against the US dollar on Tuesday, as a strengthening greenback overseas and risk-averse investor sentiment weighed on the local unit.

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