D-St set for a positive opening as GIFT Nifty signals firm start

Indian benchmark indices witnessed a volatile trading session on July 9, influenced by the weekly Sensex expiry. Analysts say Nifty formed an inverted hammer candle which remained contained inside previous session price range signaling consolidation amid stock specific action. Going ahead, they believe index holding above the support area of 23,800 being the almost identical lows of the last 3 weeks will lead to consolidation in the range of 23,800-24,350.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 110 points, or 0.46 per cent, at 24,104.50, signaling that Dalal Street was headed for a positive start on Friday.

• Tech View: The overall market sentiment is likely to improve significantly if the Nifty manages to sustain above the 24,000 mark. On the upside, immediate resistance is placed at 24,200, followed by 24,400. On the downside, immediate support is seen at 23,900 and 23,800.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 9% to settle at 13.36 levels.

Nasdaq ends sharply higher
The Nasdaq ended sharply higher on Thursday, as Micron Technology fueled a rally in chip stocks that eclipsed fears that renewed U.S. and Iranian attacks might prolong the Middle East conflict and fuel inflation.

Asian stocks gain
Asian stocks gained as investors piled back into semiconductor stocks on renewed optimism over AI-driven demand. Oil fell.

• S&P 500 futures fell 0.1% as of 9:44 a.m. Tokyo time
• Hang Seng futures rose 0.3%
• Nikkei 225 futures (OSE) rose 1.5%
• Japan’s Topix rose 0.8%
• Australia’s S&P/ASX 200 was little changed
• Euro Stoxx 50 futures fell 0.2%

Oil slips
Oil prices fell in early trading on Friday but remained on track for weekly gains as the United States and Iran continued trading strikes. Concerns that accelerating inflation could soften oil demand weighed on the market and pressured prices.

Yen falls
The battered yen languished near a 40-year low and was on track for a weekly loss on Friday, keeping traders wary of potential intervention from Japanese authorities as renewed Gulf hostilities loomed over markets.

Gold steady
Gold steadied early on Friday as markets assessed risks of inflation stemming from the recent U.S.-Iran military escalation in the Middle East, with renewed rate-hike expectations putting the non-yielding metal on course for a weekly decline.

Stocks in F&O ban today
1) 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.

Rupee
The rupee appreciated by just 1 paisa to settle at 95.47 against the US dollar on Thursday even as crude oil prices firmed up and the greenback strengthened in global markets.

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