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

On Monday, benchmark Nifty gained 0.7%, while the broader market rallied. Analysts say Indian stock markets are expected to trade sideways until greater clarity emerges on global cues and policy decisions. Markets are expected to sustain at current levels, however, continued attacks on Saudi Arabia have kept concerns over potential supply disruptions elevated.

STATE OF THE MARKETS

GIFT Nifty (Earlier SGX Nifty) signals a negative start

GIFT Nifty on the NSE IX traded lower by 101.5 points, or 0.45 per cent, at 22,672, signaling that Dalal Street was headed for a negative start on Tuesday.


Tech View: A breakout above 22,800 could trigger an upward move towards 23,000, which remains a strong resistance. However, as the broader trend remains weak, a cautious approach should be maintained, with 22,400 acting as a crucial support zone.

India VIX: India VIX, which is a measure of the fear in the markets, rose 1.8% to settle at 17.16 levels.

Asian shares rise

Asian stocks rose, tracking gains on Wall Street after Anthropic PBC’s initial public offering filing revived enthusiasm for artificial intelligence ahead of big tech earnings and the Federal Reserve’s rate decision.

• S&P 500 futures rose 0.1% as of 9:01 a.m. Tokyo time
• Hang Seng futures were little changed
• Japan’s Topix was little changed
• Australia’s S&P/ASX 200 fell 0.3%
• Euro Stoxx 50 futures rose 1%

US stocks end higher

US stocks closed higher on Monday, with the S&P 500 and Nasdaq coming off consecutive weekly declines, as Anthropic's IPO filing helped boost sentiment in AI-related stocks in a week filled with a host of market catalysts.

Oil prices fall

Oil prices edged lower on Tuesday as the potential for a resolution in the US-Israeli war on Iran kept supply fears at bay, but Brent stayed close to six-month highs as attacks on Saudi Arabia lowered hopes of immediate stability in the region.

Gold prices edge lower

Gold prices edged lower in early Asian trade on Tuesday as a firmer US dollar weighed on greenback-denominated bullion, while investors awaited Federal Reserve's policy meeting this week for clues on the interest-rate outlook.

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

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: Paytm Q2 Results: Profit rockets 976% YoY to Rs 226 crore, revenue jumps 28%

FII/DII action

Foreign portfolio investors net sold shares worth Rs 1,462 crore on Monday. DIIs, meanwhile, were net buyers at Rs 2,610 crore.

Rupee

The rupee depreciated for the third straight day and settled 22 paise lower at 95.15 against the US dollar on Monday, weighed down by elevated crude oil prices and geopolitical tensions in the Middle East.

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