GIFT Nifty up 115 points; here's the trading setup for today's session

The Nifty slipped 0.4% to close at 24,487 on Tuesday as investors awaited key macro data. Analysts expect markets to remain in consolidation mode, supported by domestic buying interest, while tracking global cues from US tariff developments and the outcome of the US–Russia talks later this week.

STATE OF THE MARKETS

GIFT Nifty (Earlier SGX Nifty) signals positive start
GIFT Nifty on the NSE IX traded 115 points, or 0.47 per cent higher, at 23,618, signaling that Dalal Street was headed for a posiive start on Wednesday.

• Tech View: For any meaningful pullback, it is crucial for the index to reclaim 24,500, which could then open the door for a retest of 24,700. Overall, we expect Nifty to remain range-bound between 24,330 (support) and 24,700 (resistance).

• India VIX: India VIX, which is a measure of the fear in the markets, rose 0.1% to settle at 12.23 levels.

US stocks end higher

Global stocks mostly advanced on Tuesday, with Wall Street closing at fresh highs after US inflation data signaled a limited impact from President Donald Trump’s tariffs. The S&P 500 gained 1.1%, surpassing its record from two weeks ago, while the Dow Jones Industrial Average rose 483 points (1.1%). The Nasdaq Composite jumped 1.4% to notch a new all-time high.

Asian shares rise

A gauge of Asian shares rose 0.6%, helped by a new record for the Nikkei-225 index in Japan. The dollar was steady after falling in the prior session. Treasuries dipped with the yield on the 10-year inching up to 4.30%.

• S&P 500 futures were little changed as of 10:13 a.m. Tokyo time
• Japan’s Topix rose 1%
• Australia’s S&P/ASX 200 fell 0.5%
• Euro Stoxx 50 futures rose 0.3%

Oil prices steady

Oil prices steadied on Wednesday after Tuesday’s drop, as an industry report showing a rise in U.S. crude inventories signalled the summer demand season is winding down. Brent crude inched up 3 cents to $66.15 a barrel at 0102 GMT after a 0.8% fall, while U.S. West Texas Intermediate slipped 3 cents to $63.14 following a 1.2% decline.

Stocks in F&O ban today

PNB Housing
RBL Bank
PGEL
Titagarh

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 3,398 crore on Tuesday. DIIs, meanwhile, were net buyers at Rs 3,508 crore.

Rupee

The rupee consolidated in a narrow range to settle just 3 paise higher at 87.72 against the US dollar on Tuesday amid a negative trend in domestic equities.

FII data

The position of FIIs in the futures market increased from a net short of Rs 1.79 lakh crore on Monday to Rs 1.85 lakh crore on Tuesday.