D-St set for a cautious opening as GIFT Nifty signals muted start

Benchmark Nifty gained 0.7% on Friday, extending the previous session’s rally despite a muted opening. Analysts say the index is expected to consolidate with a gradual recovery, although intermittent volatility may persist in broader markets.

STATE OF THE MARKETS

GIFT Nifty (Earlier SGX Nifty) signals a muted start

GIFT Nifty on the NSE IX traded higher by 25 points, or 0.11 per cent, at 23,119.5, signaling that Dalal Street was headed for a muted start on Monday.


Tech View: On the upside, resistance is placed at 22,650 and 22,800. On the downside, immediate support is seen at 22,500, below which selling pressure could intensify, triggering a sharp decline.

India VIX: India VIX, which is a measure of the fear in the markets, rose 0.2% to settle at 14.02 levels.

Asian shares fall

Asian share markets slipped on Monday as unease over AI's enormous funding needs undermined confidence ahead of a week packed with earnings, while the euro eased in the wake of rioting across France.

• S&P 500 futures rose 0.5% as of 9:45 a.m. Tokyo time
• Nikkei 225 futures (OSE) fell 1.8%
• Japan’s Topix fell 0.9%
• Australia’s S&P/ASX 200 rose 0.2%
• Euro Stoxx 50 futures fell 0.5%

US stock futures rebound

US equity-index futures rebounded from last week’s chip rout, offering some respite ahead of key earnings that may set the market’s direction amid mounting pressure on the artificial intelligence trade. Oil slipped.

Oil prices slip

Oil prices slipped on Monday after US President Donald Trump waived sanctions and tariffs on Russia that may lead to more Russian fuel exports.

Gold edges higher

Gold prices edged higher in early Asian trading on Monday as investors weighed the likelihood of a Federal Reserve rate hike later this year and awaited fresh cues on the US central bank's policy path.

Dollar firm

The dollar edged up from near its lowest levels of the month at the start of trading in Asia on Monday as violent protests in France put pressure on the euro.

Read more: Can Nifty, Sensex rally further or will bears reign in? 5 factors to steer market this week

Stocks in F&O ban today

1) Ambuja Cement

2) Kaynes

3) SAIL

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.

Read more: Mega Jio Platforms IPO to lead Rs 31,663 crore offerings this week; 9 listings lined up

FII/DII action

Foreign portfolio investors net bought shares worth Rs 1,165 crore on Friday. DIIs, meanwhile, were net sellers at Rs 3,661 crore.

Rupee

The Indian rupee rose 2% last week to post its biggest weekly gain in seven months, buoyed by policy measures aimed at boosting the currency, though analysts reckon a sustained ‌turnaround hinges on an easing of underlying strains.

Disclosure: This article has been written by Podishetti Akash, who is not a SEBI-registered Research Analyst or an Investment Adviser. Podishetti Akash and his ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclosures here