STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded higher by 14 points, or 0.06 per cent, at 24,730, signaling that Dalal Street was headed for flat start on Thursday.
- Tech View: A bearish crossover in the momentum oscillator RSI signals weakening price momentum, suggesting limited movement in the near term. Immediate support is placed at 24,500; a break below this level could lead to further weakness. On the higher side, resistance is seen at 21,750/21,900.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 4.9% to settle at 15.74 levels.
US stocks mixed
US stocks ended mixed on Wednesday, with the benchmark S&P 500 flat, the technology-heavy Nasdaq Composite slightly up and the Dow Jones Industrial Average down as weak data revealed the economic toll taken by President Donald Trump’s trade policies.
- Dow down 0.22%,
- S&P 500 flat,
- Nasdaq +0.32%
Asian shares cautious
Asian shares opened cautiously after weak US economic data reinforced expectations for Federal Reserve interest rate cuts this year.
- S&P 500 futures were little changed as of 9:43 a.m. Tokyo time
- Hang Seng futures rose 0.5%
- Japanโs Topix fell 0.6%
- Australiaโs S&P/ASX 200 rose 0.2%
- Euro Stoxx 50 futures were little changed
Gold rises
Gold prices nudged higher on Thursday, as weaker-than-expected U.S. economic data spurred demand for safe-haven assets, while market participants also assessed persistent global economic and political uncertainties. Oil slips
Oil prices slipped in early trade on Thursday after a build in U.S. gasoline and diesel inventories and Saudi Arabia’s cut to its July prices for Asian crude buyers.Stocks in F&O ban today
ABFRL
Manappuram
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 net sold shares worth Rs 1,076 crore on Wednesday. DIIs, meanwhile, were net buyers at Rs 2,567 crore.
Rupee
The rupee depreciated for the second consecutive session and settled for the day lower by 29 paise at 85.90 (provisional) against the US dollar on Wednesday, dragged down by risk-averse sentiments and foreign fund outflows.
FII data
The position of FIIs in the futures market reduced from a net short of Rs 1.04 lakh crore on Tuesday to Rs 1.02 lakh crore on Wednesday.
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