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    GIFT Nifty up 80 points; here's the trading setup for today's session

    Synopsis

    Foreign portfolio investors sold shares worth Rs 3,929 crore after three days of buying. DIIs were net buyers at Rs 2,897 crore on Wednesday.

    market-shutterShutterstock.com
    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
    Domestic equities recovered smartly to close near the day’s high on Wednesday after opening on a negative note on higher-than-expected US inflation.

    "With the earnings season almost over, the focus will shift to global cues and economic data points. Overall we expect the market to see a gradual up move on the back of strong fundamentals," 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 84 points, or 0.38 per cent, at 21,997, signaling that Dalal Street was headed for positive start on Thursday.

    • Tech View: Nifty is currently placed at the edge of breaking above the immediate hurdle of 21850 levels and a decisive move above this resistance is likely to pull Nifty towards 22000-22100 levels in the short term. Immediate support is at 21720 levels, said Nagaraj Shetti of HDFC Securities.
    • India VIX: India VIX, which is a measure of the fear in the markets, fell 2.36% to settle at 15.44 levels.


    Wall Street ends higher
    Wall Street ended sharply higher on Wednesday as ride-hailing platforms Lyft and Uber rallied, while Nvidia displaced Alphabet as the U.S. stock market's third most valuable company.
    • S&P 500 up 0.96%,
    • Nasdaq up 1.30%,
    • Dow up 0.40%

    Asian shares up
    Equities in Asia opened higher Thursday after Wall Street resumed a rally as robust earnings helped overcome worries about persistent inflation.
    • S&P 500 futures were little changed as of 9:09 a.m. Tokyo time
    • Nasdaq 100 futures were little changed
    • Hang Seng futures were little changed
    • Japan’s Topix rose 0.3%
    • Australia’s S&P/ASX 200 rose 0.9%

    Dollar pauses
    The U.S. dollar held below a three-month high on Thursday, as market players tried to gauge when the Federal Reserve will likely begin cutting interest rates as Fed officials weighed in on Tuesday's inflation data.

    Stocks in F&O ban today

    1) Hindustan Copper

    2) India Cements

    3) Indus Tower

    4) PNB

    5) ZEE

    6) Ashok Leyland

    7) ABFRL

    8) Balrampur Chini Mills

    9) Delta Corp

    10) SAIL

    11) Aurobindo Pharma

    12) Biocon

    13) Bandhan Bank

    14) Nalco

    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 sold shares worth Rs 3,929 crore after three days of buying. DIIs were net buyers at Rs 2,897 crore on Wednesday.

    Rupee
    The rupee appreciated 6 paise to close at 83.02 against the US dollar on Wednesday, tracking positive domestic equities.

    FII data
    The net short of FIIs reduced from Rs 82,275 crore on Tuesday to Rs 80,530 crore on Wednesday.


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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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