GIFT Nifty up 26 points; here's the trading setup for today's session

Nifty rebounded after six consecutive weeks of decline. Global market sentiments improved, following reports of US-Russia peace talks likely to be held this week.

Overall, analysts expect the market to stay firm while tracking developments on US tariffs and the outcome of the US-Russia talks scheduled for this week.

State of the markets

GIFT Nifty on the NSE IX traded higher by 26.5 points, or 0.11 per cent, at 24,609, signaling that Dalal Street was headed for positive start on Tuesday

• Tech View: We’re not completely out of the woods yet, but Monday’s bounce from the recent low carries enough steam to power further gains. Immediate support lies at 24,337, with the next upside targets seen around 24,850 and 25,000.
• India VIX: India VIX, which is a measure of the fear in the markets, rose 1.54% to settle at 12.22 levels.

US stocks end lower

U.S. stocks ended lower on Monday as investors anxiously await inflation data this week to assess the outlook for interest rates and eye U.S.-China trade developments.

Investors expect the recent shakeup at the U.S. Federal Reserve and signs of labour market weakness could nudge the central bank into adopting a dovish monetary policy stance later this year, fueling much of the optimism.

Asian shares gain

Asian stocks opened higher on Tuesday as investors remained cautious ahead of a key US inflation report expected to shape the Federal Reserve’s interest-rate path.

• S&P 500 futures were little changed as of 10:02 a.m. Tokyo time
• Japan’s Topix rose 1.2%
• Australia’s S&P/ASX 200 rose 0.1%
• Euro Stoxx 50 futures rose 0.3%

Oil rises

Oil prices rose on Tuesday as the United States and China extended a pause on higher tariffs, easing concerns an escalation of their trade war would disrupt their economies and crimp fuel demand in the world's two largest oil consumers.

Stocks in F&O ban today

PNB Housing
RBL Bank
PGEL

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 sold shares worth Rs 1,202 crore on Monday. DIIs, meanwhile, were net buyers at Rs 5972 crore.

Rupee

Rupee pared initial gains and settled for the day on a negative note, lower by 17 paise at 87.75 against the US dollar on Monday, as it came under pressure due to continued dollar demand by importers and a rebound in crude oil prices.

FII data

The position of FIIs in the futures market reduced from a net short of Rs 1.82 lakh crore on Friday to Rs 1.79 lakh crore on Monday.