Nifty today: GIFT Nifty down 120 points; here’s the trading setup for today’s session – News Air Insight

Indian equities edged lower on Friday after three consecutive sessions of gains as selling pressure emerged at higher levels. Analysts expect the market to remain firm with a positive bias, aided by a potential consumption boost as the GST rate cuts become effective from September 22 along with Navratri festivities beginning from the same day which should further push demand.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 120 points, or 0.47 per cent, at 25,315, signaling that Dalal Street was headed for a negative start on Monday.

• Tech View: On the lower side, support is placed at 25,150, below which the trend may weaken. However, if the index manages to stay above 25,150, it could move towards 25,500. A decisive move above 25,500 may then open the road to 26,000.
• India VIX: India VIX, which is a measure of the fear in the markets, rose 0.8% to settle at 9.97 levels.

US stocks close higher
Wall Street’s major indexes ended higher on Friday and secured weekly gains, supported by a rally in FedEx after its upbeat earnings. The delivery giant surged on reporting profit and revenue above expectations, with cost controls and strong U.S. shipments offsetting weakness overseas.Asian shares gain
Asian shares edged higher at the open, led by Japan, after the central bank eased concerns over plans to offload its massive exchange-traded fund holdings.

• S&P 500 futures were little changed as of 9:26 a.m. Tokyo time
• Japan’s Topix rose 0.8%
• Australia’s S&P/ASX 200 rose 0.5%
• Euro Stoxx 50 futures rose 0.2%

Gold firm
Gold held firm near a record high on Monday as investors awaited U.S. inflation data and a slew of Federal Reserve speakers this week for additional policy cues after the central bank lowered interest rates last week and signaled potential further easing.

Oil rises
Oil prices inched up on Monday supported by geopolitical tension in Europe and the Middle East, although the prospect of more oil supply and concern about the impact of trade tariffs on global fuel demand weighed.

Stocks in F&O ban today
1) Sammaan Capital
2) HFCL
4) Angel One

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 bought shares worth Rs 391 crore on Thursday. DIIs, meanwhile, were net buyers at Rs 2,105 crore.

Rupee
The rupee appreciated 4 paise to close at 88.16 against the US dollar on Friday, supported by optimism on US-India trade negotiations.

FII Data
The position of FIIs in the futures market increased from a net short of Rs 1.43 lakh crore on Thursday to Rs 1.46 lakh crore on Friday.