The Economic Times daily newspaper is available online now.

    GIFT Nifty down 40 points; here's the trading setup for today's session

    Synopsis

    The net long position of foreign portfolio investors decreased from Rs 7,381 crore on Tuesday to Rs 4,457 crore on Wednesday.

    market-shutterShutterstock.com
    The rupee weakened for a third straight session on Wednesday at Rs 83.13 as elevated US Treasury yields and rising global crude oil prices weighed on the local unit.
    Domestic equities continued its momentum for the fourth consecutive day led by optimistic domestic cues and fag-end buying.

    "Going ahead, the market is likely to trade in a broader range with positive bias given strong domestic factors, though persistent FII selling and poor monsoon is a worry," 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 38 points, or 0.19 per cent, lower at 19,625, signaling that Dalal Street was headed for negative start on Thursday.

    • Tech View: The short term trend of Nifty continues to be positive. One may expect further upside in the coming sessions and any dips down to the support of 19500 is likely to be a buy on dips opportunity. The next upside levels to be watched are around 19800
    • India VIX: India VIX, which is a measure of the fear in the markets, fell 0.46% to settle at 10.76 levels.

    US stocks dip
    Wall Street's three major averages closed lower on Wednesday with the Nasdaq's 1% loss leading declines after stronger-than-expected services sector data fueled concerns that still sticky inflation would mean that interest rates stay higher for longer.
    • Dow dips 0.57%,
    • S&P down 0.70%,
    • Nasdaq falls 1.06%

    Oil prices edge up
    Oil prices edged higher on Thursday, after industry data showed U.S. crude oil inventories were expected to have fallen last week, signaling tightening supplies on top of extended production cuts in Saudi Arabia and Russia.

    Asian shares under pressure
    Shares in Asia opened to muted moves Thursday while the dollar strengthened further against major currencies as investors increased bets for further Federal Reserve policy tightening.
    • S&P 500 futures were little changed as of 9:47 a.m. Tokyo time. The S&P 500 fell 0.7%
    • Nasdaq 100 futures fell 0.1%. The Nasdaq 100 fell 0.9%
    • Hang Seng futures rose 0.1%
    • Japan’s Topix rose 0.1%
    • Australia’s S&P/ASX 200 fell 0.9%
    • Euro Stoxx 50 futures were unchanged


    Stocks in F&O ban today

    1) Indiabulls Housing Finance

    2) Balrampur Chini Mills

    3) BHEL

    4) Hindustan Copper

    5) India Cements

    6) Delta Corp

    7) Manappuram

    8) SAIL

    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 3,245 crore on Wednesday. DIIs too sold shares worth Rs 247 crore.

    Rupee
    The rupee weakened for a third straight session on Wednesday at Rs 83.13 as elevated US Treasury yields and rising global crude oil prices weighed on the local unit.

    F&O
    The net long position of foreign portfolio investors decreased from Rs 7,381 crore on Tuesday to Rs 4,457 crore on Wednesday.



    (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