The Economic Times daily newspaper is available online now.

    GIFT Nifty down 25 points; here's the trading setup for today's session

    Synopsis

    Foreign portfolio investors were net sellers at Rs 3,364 crore on Thursday. DIIs bought shares worth Rs 2,711 crore.

    markets-shutterShutterstock.com
    The net short position of FIIs increased from Rs 20848 crore on Wednesday to Rs 57,279 crore on Thursday.
    Equity markets witnessed selling pressure on Thursday on account of surge in oil prices and weak global cues.

    "Going ahead, the weakness in the market is likely to extend till the worry over the elevated oil prices and higher interest rates remains, posing a risk to the earnings growth trajectory,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

    Here's breaking down the pre-market actions:

    STATE OF THE MARKETS
    GIFT Nifty (Earlier SGX Nifty) signals a negative start
    GIFT Nifty on the NSE IX traded higher by 25.5 points, or 0.13 per cent, at 19631.5, signaling that Dalal Street was headed for negative start on Friday.

    • Tech View: On the way down Nifty can slip further towards 19500 – 19440 which is the 78.6% Fibonacci retracement level of the rise from 19224 – 20222. In terms of levels, 19500 – 19440 is the crucial support zone while 19625 – 19650 shall act as an immediate hurdle zone
    • India VIX: India VIX, which is a measure of the fear in the markets, rose 10.68% to settle at 12.82 levels.

    US stocks up
    Wall Street's main indexes ended higher on Thursday as investors assessed the latest batch of economic data and as a surge in Treasury yields stalled ahead of a key inflation report.
    • Dow up 0.35%,
    • S&P rises 0.59%,
    • Nasdaq gains 0.83%

    Asian shares mixed
    Stocks in Asia looked set to post the biggest quarterly decline in a year, while oil’s rally faltered and Treasury yields fell.
    • S&P 500 futures fell 0.1% as of 9:24 a.m. Tokyo time. The S&P 500 rose 0.6%
    • Nasdaq 100 futures fell 0.1%. The Nasdaq 100 rose 0.8%
    • Japan’s Topix fell 0.3%
    • Australia’s S&P/ASX 200 rose 0.3%
    • Euro Stoxx 50 futures rose 0.6%


    Oil falls
    Oil prices fell in early trade on Friday after a recent rally, as profit-taking and expectations of supply increases by Russia and Saudi Arabia outweighed forecasts of positive demand from China during its Golden Week holiday.

    Dollar off highs
    The dollar held off a 10-month high on Friday as markets headed into the end of the quarter, giving the yen slightly more breathing room at the end of the week amid intervention concerns.


    Stocks in F&O ban today
    NIL

    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 3,364 crore on Thursday. DIIs bought shares worth Rs 2,711 crore.

    Rupee
    The rupee edged up 2 paise to settle at 83.20 (provisional) against the US currency in a restricted trade on Thursday, aided by a correction in crude oil prices and the greenback.

    F&O
    The net short position of FIIs increased from Rs 20848 crore on Wednesday to Rs 57,279 crore on Thursday.





    (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


    (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
    The Economic Times

    Stories you might be interested in