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    GIFT Nifty up 30 points; here's the trading setup for today's session

    Synopsis

    The net long position of foreign portfolio investors decreased from Rs 33,913 crore on Wednesday to Rs 22,565 crore on Thursday.

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    The net long position of foreign portfolio investors decreased from Rs 33,913 crore on Wednesday to Rs 22,565 crore on Thursday.
    Domestic equities declined for the third consecutive day amid weak global cues after the US Fed’s hawkish stance in its policy meeting.

    "Uncertain global cues and persistent selling by FIIs are likely to keep markets under pressure in the near term. It would be better to prefer defensive sectors for some time until the market stabilizes," 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 lower by 30.5 points, or 0.16 per cent, at 19,692.50, signaling that Dalal Street was headed for positive start on Friday.

    • Tech View: Nifty is in the process of retracing the rise it has witnessed between 19223–20222. It has now reached the zone of 19720 – 19680 where support in the form of the 20-day moving average and the 50% Fibonacci retracement level is placed. We expect Nifty to hold on to this support and provide a pullback.
    • India VIX: India VIX, which is a measure of the fear in the markets, fell 2.79% to settle at 10.82 levels.

    US stocks fall
    Wall Street tanked in a broad sell-off on Thursday, as investor risk appetite was dashed by worries that the Federal Reserve's restrictive monetary policy will remain in place for longer than anticipated.
    • Dow dips 1.08%,
    • S&P down 1.64%,
    • Nasdaq falls 1.82%

    Asian share decline
    Equity markets in Asia fell after US stocks suffered the biggest slump in six months, while the yen steadied ahead of a highly anticipated Bank of Japan policy decision.
    • S&P 500 futures were little changed as of 9:14 a.m. Tokyo time. The S&P 500 fell 1.6%
    • Nasdaq 100 futures were little changed. The Nasdaq 100 fell 1.8%
    • Hang Seng futures fell 0.5%
    • Japan’s Topix fell 1%
    • Australia’s S&P/ASX 200 fell 1.4%
    • Euro Stoxx 50 futures fell 1.5%

    Oil rises
    Oil prices rose on Friday as concerns that a Russian ban on fuel exports could tighten global oil supply outweighed fears that further possible U.S. interest rate hikes could dent fuel demand, but they were still headed for a weekly loss in four.

    Yen under pressure
    The yen was held at the mercy of soaring U.S. Treasury yields on Friday ahead of a closely watched rate decision by the Bank of Japan (BOJ), while the dollar stood near a six-month peak on the prospect of higher-for-longer U.S. rates.


    Stocks in F&O ban today

    1) Indiabulls Housing Finance

    2) Hindustan Copper

    3) Delta Corp

    4) Manappuram

    5) PNB

    6) BHEL

    7) Balrampur Chini Mills

    8) ZEE

    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 3,007 crore on Thursday. DIIs bought shares worth Rs 1,158 crore.

    Rupee
    The rupee consolidated in a narrow range to settle 2 paise lower at 83.13 against the US dollar on Thursday as foreign capital outflows and waning risk appetite weighed on investor sentiments.

    F&O
    The net long position of foreign portfolio investors decreased from Rs 33,913 crore on Wednesday to Rs 22,565 crore on Thursday.





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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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