D-St set for a negative opening as GIFT Nifty signals weak start

Domestic equities extended losses for the second consecutive session, with the Nifty declining 0.2% to close at 24,193, pressured by weakness in index heavyweights and higher crude oil prices. Analysts say equities are expected to remain range-bound amid continued geopolitical tensions in West Asia, Brent crude oil prices near $90/bbl, weak rupee, persistent Foreign Institutional Investor (FII) selling and mixed global cues. While the ongoing Q1 season is expected to drive stock-specific action, investor sentiment will continue to be influenced by developments in West Asia and the trajectory of crude oil prices.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 67.50 points, or 0.28 per cent, at 24,102, signaling that Dalal Street was headed for a negative start on Wednesday.

• Tech View: In the near term, the overall trend is expected to remain positive, with the potential to move towards the 24,400 mark. On the downside, immediate support is placed at 24,150. A decisive breach below this level could trigger further weakness, dragging the index towards 23,950.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 3% to settle at 12.60 levels.

US Stocks end higher
Wall Street's main indexes ended higher on Tuesday, led by a sharp rally in semiconductor stocks that helped investors look past the latest Middle East tensions and tariff disputes. Market participants also turned their focus to upcoming earnings from major technology companies for fresh signals on the outlook for the artificial intelligence-driven rally.

Asian stocks climb
Stocks in Asia climbed for a second day as a rebound in chipmakers at the heart of the artificial intelligence boom offset concerns over rising oil prices after the renewed escalation in the US-Iran conflict.

• S&P 500 futures were little changed as of 9:02 a.m. Tokyo time
• Hang Seng futures fell 0.7%
• Japan’s Topix was little changed
• Australia’s S&P/ASX 200 rose 0.1%
• Euro Stoxx 50 futures rose 0.7%

Oil rises
Oil prices inched higher in early trading on Wednesday as fears of further supply disruptions intensified after U.S. forces said it began striking Iranian military targets for the 11th straight night and Kuwait reported attacks by Iranian drones.

Yen dips
The yen was pinned near an almost four-decade low on Wednesday as rising oil prices and U.S. Treasury yields hoisted the dollar and left traders on edge about possible Japanese intervention.

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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 Indian rupee firmed slightly on Tuesday as hopes of diplomacy between the US and Iran pulled the brakes on an oil rally that had driven the currency to a two-month low. Traders are also paying close attention to the scale of inflows that India's capital flow ‌measures would ⁠attract over ⁠a period to bolster India's FX kitty that is used to defend the rupee.

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