D-Street set for a strong opening as GIFT Nifty signals firm start

Domestic equities ended mixed on Thursday, with the Nifty declining 0.2%. Analysts say Indian equities are likely to remain under pressure amid elevated crude prices, keeping investor sentiment cautious. Brent crude rose 1.6% to around $97 per bbl, near its highest levels in over a month, as investors continued to monitor Middle East developments.

STATE OF THE MARKETS

GIFT Nifty (Earlier SGX Nifty) signals a positive start

GIFT Nifty on the NSE IX traded higher by 109.5 points, or 0.46 per cent, at 24,042, signaling that Dalal Street was headed for a positive start on Friday.


Tech View: On the lower end, support is placed at 23,850, below which the index may decline towards 23,700–23,730. On the higher end, resistance is placed at 24,000. A sustained move above 24,000 would be required to negate the immediate bearish bias.

India VIX: India VIX, which is a measure of the fear in the markets, fell 2.2% to settle at 11.34.

Asian shares rise

Asian stocks rose, tracking gains on Wall Street as investors pared bets on a Federal Reserve interest-rate hike this month. The yen held its biggest advance in more than a month.

• S&P 500 futures were little changed as of 9:56 a.m. Tokyo time
• Hang Seng futures rose 1.1%
• Japan’s Topix fell 0.2%
• Australia’s S&P/ASX 200 rose 0.1%
• Euro Stoxx 50 futures were little changed

US stocks rally

Stock markets rallied while bond yields fell on Thursday as comments from Federal Reserve Governor Christopher Waller signaled a willingness to remain patient ​on raising interest rates.

Oil gains

Oil prices rose on Friday and are on track ​for the steepest weekly ​gain since mid-July as rising tensions and renewed ​U.S.-Iran hostilities heightened concerns over Middle East supply risks.

Gold steady

Gold held steady on Friday and was poised for ​a small weekly gain, ​as attention turned to highly awaited U.S. payrolls data ​for clues on the Federal Reserve's next interest rate decision.

Read more: Ahead of Market: 10 things that will decide stock market action on Friday

Stocks in F&O ban today

1) SAIL

2) LIC Housing Finance

3) Inox Wind

4) 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 extended its gaining momentum for the fifth straight session on Thursday, appreciating 22 paise to close at 94.51 against the US dollar, buoyed by the country's improved balance of payments condition following higher-than-expected foreign currency deposits.

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