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    GIFT Nifty up 5 points; here's the trading setup for today's session

    Synopsis

    Bajaj Finance, ICICI Pru Life, LTTS, Happiest Minds and a slew of other companies will announce their second quarter results today.

    market-shutterShutterstock.com
    The net short position of FIIs decreased from Rs 81,077 crore on Friday to Rs 78,824 crore on Monday.
    Benchmark equity indices ended lower on Monday, falling for the third day running, amid weak trends in global markets and spike in Brent crude oil prices due to geopolitical tension in the Middle East

    "Overall we expect positive biases to continue led by expectation of healthy demand during the festive season and robust earnings delivery from the majority of the corporates," 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 muted start
    GIFT Nifty on the NSE IX traded higher by 4.5 points, or 0.02 per cent, at 19815.50, signaling that Dalal Street was headed for muted start on Tuesday.

    • Tech View: The short term uptrend status of the market remains intact and positive chart patterns like higher tops and bottoms is also valid. Nifty on the weekly chart sustained above the 10-week EMA and bullish candlestick pattern was formed in the last few weeks, said Nagaraj Shetti of HDFC Securities.
    • India VIX: India VIX, which is a measure of the fear in the markets, rose 4.26% to settle at 11.07 levels.

    US stocks gain
    Major U.S. stock indexes ended sharply higher on Monday as investors were optimistic about the start of earnings season, while transportation and small-cap shares also jumped.
    • Dow up 0.9%,
    • S&P 500 rises 1.1%,
    • Nasdaq gains 1.2%

    Asian stocks climb
    Asian stocks rose on optimism that ongoing diplomatic efforts may help prevent the Israel-Hamas war from expanding into a wider conflict.
    • S&P 500 futures were little changed as of 9:14 a.m. Tokyo time. The S&P 500 rose 1.1%
    • Nasdaq 100 futures were little changed. The Nasdaq 100 increased 1.2%
    • Japan’s Topix index rose 1.4%
    • Australia’s S&P/ASX 200 Index rose 1%
    • Hong Kong’s Hang Seng futures rose 1.1%

    Dollar on backfoot
    The U.S. dollar started Tuesday on the back foot as investors took stock of developments in the Middle East and braced for a slew of speeches by central bank officials this week headlined by Fed Chair Powell to gauge the monetary policy outlook.


    Stocks in F&O ban today

    1) Indiabulls Housing Finance

    2) Hindustan Copper

    3) Manappuram

    4) PNB

    5) Balrampur Chini Mills

    6) India Cements

    7) GNFC

    8) BHEL

    9) Delta Corp

    10) SAIL

    11) Sun TV

    12) 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 593 crore on Friday. DIIs bought shares worth Rs 1,184 crore.

    Rupee
    The rupee consolidated in a narrow range and settled for the day higher by 3 paise at 83.27 against the US dollar on Monday.

    F&O
    The net short position of FIIs decreased from Rs 81,077 crore on Friday to Rs 78,824 crore on Monday.

    Q2 results
    Bajaj Finance, ICICI Pru Life, LTTS, Happiest Minds 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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