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

Indian equity benchmarks ended marginally higher, holding on to gains despite surrendering part of their early advances as selling pressure emerged at elevated levels. Broader markets, however, continued to outperform, with small- and micro-cap stocks posting stronger gains than their large-cap counterparts. Analysts say the divergence points to resilient buying interest beyond frontline stocks, reflecting continued participation from domestic investors.

STATE OF THE MARKETS

GIFT Nifty (Earlier SGX Nifty) signals a negative start

GIFT Nifty on the NSE IX traded lower by 44 points, or 0.17 per cent, at 25,257, signaling that Dalal Street was headed for a negative start on Friday.


Tech View: 25,000 is expected to act as immediate support, followed by a crucial support at 24,800. Nevertheless, the broader bias remains positive, and index traders should maintain a buy-on-dips approach. On the upside, resistance is placed at 25,500, with the index expected to trade within the 25,000–25,500 range.

India VIX: India VIX, which is a measure of the fear in the markets, fell 5% to settle at 16.62 levels.

Asian stocks gain

Asian stocks edged higher as investors weighed the fallout from Nvidia Corp.’s leadership upheaval on the broader artificial-intelligence trade. Oil and Treasury yields held their gains.

• S&P 500 futures rose 0.3% as of 9:49 a.m. Tokyo time
• Hang Seng futures fell 0.3%
• Nikkei 225 futures (OSE) rose 1.9%
• Japan’s Topix rose 0.7%
• Australia’s S&P/ASX 200 fell 0.9%
• Euro Stoxx 50 futures fell 0.3%

US stocks close lower

US stocks closed lower on Thursday, as a drop in Nvidia shares after CEO Jensen Huang's exit outweighed gains in energy shares.

Gold edges higher

Gold prices edged higher on Friday, recovering from the previous session's lowest level in more than a year, but stayed on track for a weekly fall as higher oil prices stoked inflation concerns and reinforced expectations for higher-for-longer US rates.

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

Stocks in F&O ban today

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.

Read more: New SIP registrations fall 20%, stoppage ratio climbs to 116% in October after 5-month decline

FII/DII action

Foreign portfolio investors net bought shares worth Rs 7,830 crore on Thursday. DIIs, meanwhile, were net sellers at Rs 6331 crore.

Rupee

The Indian rupee retreated 0.4% to 94.04 on Thursday after oil prices rose and domestic equities reversed, erasing early gains driven by a pickup in foreign portfolio inflows, while traders also awaited India's inflation data due later in the day.

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