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    GIFT Nifty down 45 points; here's the trading setup for today's session

    Synopsis

    JSW Steel, Paytm, Hindustan Zinc and a slew of other companies will announce their second quarter results today.

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    JSW Steel, Paytm, Hindustan Zinc and a slew of other companies will announce their second quarter results today.
    Global headwinds continued to impact domestic equities as indices fell for a second straight day on Thursday.

    "Escalating situations in the Middle East would likely keep market sentiments subdued. Thus, we advise investors to stay cautious in the near term," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.

    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 lower by 45 points, or 0.23 per cent, at 19510, signaling that Dalal Street was headed for negative start on Friday.

    • Tech View: Nifty is trading near the 50-day SMA (Simple Moving Average). For the traders now, the 50-day SMA or 19625 would act as a trend decider level. Above the same, we could see a technical bounce back till 19700-19735 levels. On the flip side, below 19625 the index could retest the level of 19520-19480.
    • India VIX: India VIX, which is a measure of the fear in the markets, fell 0.62% to settle at 10.90 levels.

    US stocks drop
    U.S. stocks ended solidly lower on Thursday, with shares of Tesla falling after its results and Treasury yields surging as Federal Reserve Chair Jerome Powell spoke about monetary policy and investors worried whether interest rates would stay higher for longer.
    • Dow falls 0.8%,
    • S&P 500 down 0.9%,
    • Nasdaq dips 1%

    Asian shares decline
    Asian stocks declined into a third day following falls on Wall Street as tensions escalated in the Middle East, driving gold and oil to further advances. Meanwhile, traders weighed Federal Reserve chairman Jerome Powell’s remarks for any clues on the policy outlook.
    • S&P 500 futures fell 0.3% as of 9:32 a.m. Tokyo time. The S&P 500 fell 0.9%
    • Nasdaq 100 futures fell 0.3%. The Nasdaq 100 fell 0.9%
    • Hang Seng futures were little changed
    • Nikkei 225 futures (OSE) fell 0.8%
    • Japan’s Topix fell 0.7%
    • Australia’s S&P/ASX 200 fell 1.3%
    • Euro Stoxx 50 futures fell 0.8%

    Oil climbs
    Oil prices extended gains on Friday, rising about 1% on fears that the Israel-Gaza conflict may spread in the Middle East and disrupt supplies from one of the world's top-producing regions.

    Dollar rises
    The dollar was within a hair's breadth of the closely watched 150 yen level on Friday, buoyed by a surge in the U.S. 10-year Treasury yield which in the previous session briefly reached 5% for the first time since 2007.


    Stocks in F&O ban today

    1) Indiabulls Housing Finance

    2) Manappuram

    3) Balrampur Chini Mills

    4) India Cements

    5) GNFC

    6) Delta Corp

    7) MCX

    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 1,093 crore on Wednesday. DIIs bought shares worth Rs 736 crore.

    Rupee
    The rupee traded in a narrow range to settle 5 paise higher at 83.23 (provisional) against the US dollar on Thursday, tracking softening crude prices in the international markets amid lingering geopolitical uncertainties.

    Q2 results
    JSW Steel, Paytm, Hindustan Zinc and a slew of other companies will announce their second quarter results today.





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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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