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    GIFT Nifty signals a positive start for D-Street. Here's the trading setup for today's session

    Synopsis

    Foreign portfolio investors net sold shares worth Rs 1,879 crore on Thursday. DIIs, meanwhile, were net buyers at Rs 872 crore.

    markets-shutterShutterstock.com
    The rupee rose 8 paise to close at 82.96 against the US dollar on Thursday after the government hinted at faster fiscal consolidation and lower borrowings in its interim Budget for 2024-25.
    Domestic markets traded in a narrow range on Thursday before closing lower. On the global front, the US Fed concluded by maintaining its status quo, staying away from hinting at early rate cuts, which dampened global sentiments.

    "With two major events now behind us, we expect markets to take support from the ongoing earning season and should remain in positive territory," 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 positive start
    GIFT Nifty on the NSE IX traded higher by 166 points, or 0.76 per cent, at 21,905, signaling that Dalal Street was headed for positive start on Friday.

    • Tech View: Technically, the immediate resistance for Nifty is at the 21,840 mark, whereas the immediate support is placed at 21,650. Any move below 21,650 may lead to a down-move towards 21,580 and 21,540. Major support continues to be at the 21,500 mark, said Prashanth Tapse of Mehta Equities.
    • India VIX: India VIX, which is a measure of the fear in the markets, fell 9.9% to settle at 14.46 levels.

    US stocks gain
    U.S. stocks rebounded on Thursday as investors looked to a spate of high-profile earnings and the Friday's employment report a day after the Federal Reserve quashed lingering bets that interest rate cuts could begin as early as March.
    • Dow up 0.97%,
    • S&P rises 1.25%,
    • Nasdaq gains 1.30%

    Asian shares up
    Asian equity futures edged higher after US stocks rose Thursday in a rebound that extended into after-hours trading on better-than-expected results from technology giants.
    • S&P 500 futures rose 0.5% as of 8:04 a.m. Tokyo time
    • Hang Seng futures rose 0.6%
    • Australia’s S&P/ASX 200 rose 0.4%

    Dollar falls
    The dollar fell broadly on Friday in a bout of positive risk sentiment following upbeat big tech earnings on Wall Street, while traders awaited U.S. jobs data due later in the day to gauge how soon the Federal Reserve could begin easing rates.

    FII/DII action
    Foreign portfolio investors net sold shares worth Rs 1,879 crore on Thursday. DIIs, meanwhile, were net buyers at Rs 872 crore.

    Rupee
    The rupee rose 8 paise to close at 82.96 against the US dollar on Thursday after the government hinted at faster fiscal consolidation and lower borrowings in its interim Budget for 2024-25.

    FII data
    The net short of FIIs reduced from Rs 87,351 crore on Wednesday to Rs 80,340 crore on Thursday.

    Q3 results
    IndiGo, Tata Motors, JSW Infra, Delhivery and a slew of other companies will announce their third quarter results today.



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    (You can now subscribe to our ETMarkets WhatsApp channel)

    (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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