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    GIFT Nifty down 10 points; here's the trading setup for today's session

    Synopsis

    The net short position of FIIs reduced from Rs 1.30 lakh crore on Tuesday to Rs 1.26 lakh crore on Wednesday.

    markets-shutterShutterstock.com
    Foreign portfolio investors were net sellers at Rs 306 crore on Wednesday. DIIs bought shares worth Rs 721 crore.
    Markets swung between gains and losses throughout the session on Wednesday to finally close in positive territory.

    "Overall, the market is likely to remain lacklustre and consolidate in a range in the absence of any major events, and start of holiday season," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial.

    Here's breaking down the pre-market actions:

    STATE OF THE MARKETS
    GIFT Nifty (Earlier SGX Nifty) signals a muted start
    GIFT Nifty on the NSE IX traded lower by 9 points, or 0.05 per cent, at 19,889, signaling that Dalal Street was headed for muted start on Thursday.

    • Tech View: A decisive move above 19850-19900 levels is expected to open sharp upside towards new all-time highs. Any weakness from here could find support around 19650 levels, said Nagaraj Shetti of HDFC Securities.
    • India VIX: India VIX, which is a measure of the fear in the markets, fell 3% to settle at 11.86 levels.

    US stocks gain
    US stocks ended higher on Wednesday on optimism that the Federal Reserve may be done raising interest rates and that the economy is still resilient.
    • Dow up 0.5%,
    • S&P 500 rises up 0.4%,
    • Nasdaq gains 0.5%

    Asian shares rangebound
    Shares in Asia traded within narrow ranges Thursday after US stocks ticked higher and Treasuries fell on data showing US consumers expect inflation to persist.
    • S&P 500 futures were little changed as of 9:59 a.m. Tokyo time. The S&P 500 rose 0.4%
    • Nasdaq 100 futures were little changed. The Nasdaq 100 rose 0.4%
    • Hang Seng futures fell 0.3%
    • Nikkei 225 futures (OSE) rose 0.7%
    • Australia’s S&P/ASX 200 fell 0.5%

    Dollar up
    Currency markets were lulled by holidays in Japan and the United States on Thursday, leaving the U.S. dollar revelling in its gains after data that cast doubts over market projections for peak Fed rates.

    Oil down
    Oil prices fell 1% in early trading on Thursday, extending losses from the previous session, after OPEC+ postponed a ministerial meeting stoking views the producers might cut output less than earlier anticipated.


    Stocks in F&O ban today

    1) BHEL
    2) Hindustan Copper
    3) Indiabulls Housing Finance
    4) India Cements
    5) Manappuram
    6) MCX
    7) NMDC
    8) RBL Bank
    9) ZEEL

    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 were net sellers at Rs 306 crore on Wednesday. DIIs bought shares worth Rs 721 crore.

    Rupee
    The rupee consolidated in a narrow range and settled lower by 4 paise at 83.32 against the US dollar on Wednesday, tracking a strong American currency overseas.

    F&O data
    The net short position of FIIs reduced from Rs 1.30 lakh crore on Tuesday to Rs 1.26 lakh crore on Wednesday.





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    (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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