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    GIFT Nifty up 130 points; here's the trading setup for today's session

    Synopsis

    Foreign portfolio investors were net buyers at Rs 1,071 crore on Tuesday for second straight day. DIIs, meanwhile, bought shares worth Rs 1,429 crore.

    markets-shutterShutterstock.com
    The rupee recovered 2 paise to 83.43 against the US dollar on Tuesday, tracking fresh foreign capital inflows amid volatility in the domestic equity markets
    Nitfy witnessed profit booking on Tuesday after a rally for the previous two days. On Thursday, markets would react to the US Fed policy decision and US Consumer confidence data.

    "Overall we expect the market to continue its positive momentum supported by healthy DIIs & retail buying and the Q4 result season," 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 127 points, or 0.56 per cent, at 22,746, signaling that Dalal Street was headed for positive start on Thursday.

    • Tech View: On the higher side, the immediate resistance zone is at 22,750-800 levels and the next psychological resistance for Nifty is at 23,000 Mark. Overall, Nifty is likely to remain volatile within 22,300–22,800 range in the near term, said Tejas Shah of JM Financial & BlinkX.
    • India VIX: India VIX, which is a measure of the fear in the markets, rose 5.19% to settle at 12.87 levels.

    US stocks mixed
    On Wednesday, U.S. stocks concluded with a mixed performance following the Federal Reserve's decision to maintain its key interest rate, as anticipated. The Fed hinted that its next step is likely to be a rate cut, but cautioned that sustained progress on inflation is not guaranteed.
    • Dow up 0.23%,
    • S&P off 0.34%,
    • Nasdaq down 0.33%

    Asian shares down
    Asian equities slipped after Federal Reserve chair Jerome Powell downplayed the prospect of further interest-rate hikes. The yen resumed losses after a sudden jolt higher that hinted at official intervention.
    • S&P 500 futures rose 0.4% as of 9:16 a.m. Tokyo time
    • Hang Seng futures were unchanged
    • Japan’s Topix fell 0.2%
    • Australia’s S&P/ASX 200 rose 0.1%
    • Euro Stoxx 50 futures fell 1.2%

    Oil rises
    Oil prices increased on Thursday amid the possibility that the U.S. could initiate purchases of crude for its petroleum reserve. This uptick followed a decline to a seven-week low, influenced by optimism surrounding a ceasefire between Israel and Gaza, uncertainties regarding U.S. interest rate adjustments, and growing oil stockpiles.

    Yen dips
    The yen gave up ground in early trade on Thursday, reversing direction after a sudden surge against the dollar overnight that traders and analysts were quick to attribute to intervention by Japanese authorities.


    Stocks in F&O ban today

    1) Vodafone Idea

    2) Biocon

    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 buyers at Rs 1,071 crore on Tuesday for second straight day. DIIs, meanwhile, bought shares worth Rs 1,429 crore.

    Rupee
    The rupee recovered 2 paise to 83.43 against the US dollar on Tuesday, tracking fresh foreign capital inflows amid volatility in the domestic equity markets

    FII data
    The net short of FIIs turned from Rs 45,984 crore on Monday to Rs 16,426 crore on Tuesday.

    Q4 results
    Adani Enterprises, Adani Ports, Dabur, Coal India among others will announce their fourth quarter earnings on Thursday.



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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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