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    GIFT Nifty up 20 points; here's what changed for market while you were sleeping

    Synopsis

    The support at the lower end remains solid at 19245, serving as a barrier to prevent further declines. On the upper end, resistance is placed at 19425; a breach of this level might lead to a more dependable rally. Expect a range-bound trading unless a clear breakout occurs on either side.

    markets-shutter.Agencies
    Foreign portfolio investors were marginal net buyers at Rs 61 crore on Tuesday. DIIs bought shares worth Rs 305 crore
    Domestic indices traded in positive territory for the second consecutive day on Tuesday amid gains in global equities.

    "Market is moving in a range and we expect this trend to continue given the data-packed week and monthly derivatives expiry. Further, consistent selling by FIIs and poor monsoon in the month of August raised concern among investors, thus keeping the upside limited," 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 positive start
    GIFT Nifty on the NSE IX traded 18 points, or 0.09 per cent, higher at 19,529, signaling that Dalal Street was headed for positive start on Wednesday.

    • Tech View: The support at the lower end remains solid at 19245, serving as a barrier to prevent further declines. On the upper end, resistance is placed at 19425; a breach of this level might lead to a more dependable rally. Expect a range-bound trading unless a clear breakout occurs on either side.
    • India VIX: India VIX, which is a measure of the fear in the markets, fell 1.39% to settle at 12.22 levels.

    US stocks up
    Wall Street ended sharply higher on Tuesday, lifted by Tesla, Nvidia and other megacap growth stocks after a drop in monthly job openings cemented expectations of a pause in interest rate hikes by the U.S. Federal Reserve.
    • S&P 500 up 1.45%
    • Nasdaq rises 1.74%
    • Dow gains 0.85%

    Asian shares gain
    Asian stocks rose as China’s largest banks reportedly prepare to cut interest rates and investors speculate that the Federal Reserve is nearing the end of its tightening campaign.
    • S&P 500 futures were little changed as of 9:11 a.m. Tokyo time. The S&P 500 rose 1.5%
    • Nasdaq 100 futures rose 0.1%. The Nasdaq 100 rose 2.2%
    • Japan’s Topix index rose 0.5%
    • Australia’s S&P/ASX 200 Index rose 0.6%
    • Hong Kong’s Hang Seng futures rose 1.1%

    Oil prices rise
    Oil prices extended gains on Wednesday after industry data showed a large draw in crude inventories in the U.S., the world's biggest fuel consumer, and as concerns about a hurricane in the Gulf of Mexico kept investors on edge.

    Brent crude futures for October rose 17 cents, or 0.2%, to $85.66 a barrel by 0133 GMT. The October contract expires on Thursday and the more active November contract was at $85.08 a barrel, up 17 cents.

    Stocks in F&O ban today

    1) Escorts

    2) GMR Infra

    3) RBL Bank

    4) Manappuram Finance

    5) Sun TV

    6) Hindustan Copper

    7) Indiabulls Housing Finance

    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 marginal net buyers at Rs 61 crore on Tuesday. DIIs bought shares worth Rs 305 crore

    Rupee
    The Indian rupee closed lower at Rs 82.70 on Tuesday as dollar buying by oil companies and large importers pressured the local unit during the session, wiping out early gains.



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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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