STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 71 points, or 0.30 per cent, at 23,653, signaling that Dalal Street was headed for a positive start on Wednesday.
- Tech View: On the downside, immediate support is now placed at 23,250, followed by 23,000 levels. Meanwhile, India VIX declined sharply by around 9% and slipped below the 20 mark; a further easing in volatility would lend additional comfort to the bulls.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 8.4% to settle at 19.79 levels.
US stocks end higher
Wall Street ended higher on Tuesday, with gains in Delta Air Lines and other travel stocks, while the Federal Reserve began its two-day policy meeting amid investors’ worries about high oil prices and the Middle East conflict.
- S&P 500 +0.25%,
- Nasdaq +0.47%,
- Dow +0.10%
Asian shares gain
Asian equities rose while oil edged lower, suggesting investors are trying to look past near-term geopolitical uncertainty and find a measure of stability in markets.
- S&P 500 futures were little changed as of 9:53 a.m. Tokyo time
- Hang Seng futures were little changed
- Japan’s Topix rose 1.3%
- Australia’s S&P/ASX 200 was little changed
- Euro Stoxx 50 futures were little changed
Oil drops
Oil prices slightly fell on Wednesday morning after sources citing American Petroleum Institute figures showed an increase in U.S. crude inventories.
Dollar dips
The dollar held losses on Wednesday as a glimmer of risk appetite came back to markets ahead of a slate of key central bank decisions.
Gold steady
Gold prices held steady on Wednesday as investors kept to the sidelines, evaluating the economic impact of the Middle East conflict ahead of the U.S. Federal Reserve’s policy decision.
Stocks in F&O ban today
Samman Capital
SAIL
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 4,741 crore on Tuesday. DIIs, meanwhile, were net buyers at Rs 5,225 crore.
Rupee
The rupee declined 12 paise to settle at an all-time low of 92.40 against the US dollar on Tuesday, pressured by rising crude oil prices and sustained outflow of foreign funds amid the West Asia crisis.
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