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

Indian benchmark indices remained under pressure throughout the session but managed to hold above the crucial 24,000 mark at close. Elevated crude oil prices and escalating geopolitical tensions continued to weigh on investor sentiment, while the weekly Nifty expiry led to heightened intraday volatility and choppy price action. Analysts expect Nifty to extend the recent consolidation and trade in the broad range of 23,800-24,600 amid stock specific action. Within the consolidation last two-week highs placed around 24,380 will be the key hurdle for the index only a move above the same will signal positive movement. Failure to move above the same will keep the bias corrective.

STATE OF THE MARKETS

GIFT Nifty (Earlier SGX Nifty) signals a negative start

GIFT Nifty on the NSE IX traded lower by 33 points, or 0.14 per cent, at 24,018, signaling that Dalal Street was headed for a negative start on Wednesday.


Tech View: On the lower end, however, it found initial support near a modified rising channel. A sustained fall below 23,950 might trigger the next leg of correction. However, if the index manages to hold above this level, a meaningful recovery could emerge in the near term

India VIX: India VIX, which is a measure of the fear in the markets, was flat at 11.19 levels.

Asian stocks and bonds fall

Stocks and bonds fell as rising oil prices fueled inflation concerns and the prospect of tighter monetary policy, driving a risk-off tone across markets.

MSCI’s Asia Pacific equities gauge dropped 1.2%, with stocks in Japan and South Korea sliding 2.5%. That came after the S&P 500 Index retreated for a third consecutive session and the Nasdaq 100 Index fell 1.3%.

• S&P 500 futures were little changed as of 9:46 a.m. Tokyo time
• Hang Seng futures were little changed
• Japan’s Topix fell 2%
• Australia’s S&P/ASX 200 fell 1.4%
• Euro Stoxx 50 futures fell 0.4%

US stocks decline

The Nasdaq 100 Index notched its worst day in two weeks on Tuesday, as investors assessed the effects of rising bond yields and higher oil prices on the Federal Reserve’s policy outlook.

Oil prices rise

Oil prices rose nearly 1% in early trade on Wednesday, extending the ​previous session's surge, as concerns over ​supply disruption intensified after the U.S. and Iran exchanged strikes overnight, ​dimming hopes for a quick easing of tensions in the Middle East.

Gold hits low

Gold hit a more than two-week low ​on Wednesday, pressured by higher ​U.S. Treasury yields and a firmer dollar, as ​investors awaited U.S. jobs data for clues on the interest-rate path.

Dollar holds firm

The dollar held firm on Wednesday as renewed hostilities in the Middle East pushed oil prices higher and revived inflation ​concerns.

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Stocks in F&O ban today

1) SAIL

2) LIC Housing Finance

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 bought shares worth Rs 1,143 crore on Tuesday. DIIs, meanwhile, were net buyers at Rs 1,847 crore.

Rupee

The Indian rupee surged to a two-month high against the U.S. dollar on Tuesday, powered by aggressive central bank intervention and supported by flow-related dollar offers from foreign banks.

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