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    GIFT Nifty down 90 points; here's what changed for market while you were sleeping

    Synopsis

    Option data suggests a broader trading range in between 19000 to 19800 zones while an immediate trading range in between 19200 to 19600 zones.

    markets-shutterShutterstock.com
    Foreign portfolio investors were net sellers at Rs 2,324 crore on Monday. DIIs bought shares worth Rs 1,461 crore.
    Equity indices recoverd towards the fag end on Monday to close with marginal gains. Markets will likely react to headline inflation data, which rose sharply to 7.4% in the month of July.

    "Market is witnessing consolidation at higher levels in the absence of any positive trigger. We expect this trend to continue in the near term as a series of macro data around the world and FOMC meeting minutes will be released during the week which could keep markets subdued," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

    Option data suggests a broader trading range in between 19000 to 19800 zones while an immediate trading range in between 19200 to 19600 zones.

    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 88.5 points, or 0.45 per cent, lower at 19,385.50, signaling that Dalal Street was headed for negative start on Wednesday.

    • Tech View: If Nifty falls below the 19250 mark, it might incite a corrective movement towards the 19100-19150 range in the near future. Conversely, resistance can be identified at the 19550 level on the higher side.
    • India VIX: India VIX, which is a measure of the fear in the markets, rose 4.1% to settle at 12 levels.

    US stocks dip
    Wall Street's main stock indexes closed sharply lower on Tuesday after stronger-than-expected retail sales data stoked worries interest rates could stay higher for longer, while U.S. big banks dropped on a report that Fitch could downgrade some lenders.
    • S&P 500 dips 1.16%,
    • Nasdaq down 1.14%,
    • Dow falls 1.02%

    Asian stocks fall
    Asian stock markets fell following declines across the board in the US as inflation and growth concerns sapped risk sentiment.
    • S&P 500 futures were little changed as of 10:21 a.m. Tokyo time. The S&P 500 fell 1.2%
    • Nasdaq 100 futures were little changed. The Nasdaq 100 fell 1.2%
    • Japan’s Topix fell 0.9%
    • Australia’s S&P/ASX 200 fell 1.6%
    • Hong Kong’s Hang Seng fell 1%
    • The Shanghai Composite was little changed
    • Euro Stoxx 50 futures fell 0.3%

    Oil prices steady
    Oil prices held steady in early trading on Wednesday after a 1% drop in the previous session, as markets weighed weak economic data from China, the world's biggest oil importer, against tightening U.S. crude supplies.

    Yen dips
    The yen languished near its weakest level in nine months on Wednesday and kept traders on alert for any signs of intervention, while mounting concerns over China's sputtering economy and gloomy outlook soured the mood in Asia.

    Stocks in F&O ban today

    1) Indiabulls Housing Finance

    2) Delta Corp

    3) GNFC

    4) Balrampur Chini Mills

    5) Chambal Fertilisers & Chemicals

    6) India Cements

    7) Granules

    8) ZEEL

    9) Manappuram

    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 2,324 crore on Monday. DIIs bought shares worth Rs 1,461 crore.

    Rupee
    Indian rupee slipped to a near 10-month low on Monday at 82.95, tracking a stronger dollar which led to losses across Asian currencies

    CPI Inflation
    India's retail inflation rose sharply to 7.44% in July from 4.87% the previous month on a spike in food prices.



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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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