Nifty today: GIFT Nifty down 100 points; here’s the trading setup for today’s session – News Air Insight

On Wednesday, markets resumed their downward trajectory after a brief rebound in the previous session, as persistent foreign fund outflows and selling in banking, financial services and automobile stocks weighed on benchmark indices. Analysts say Indian equities are likely to remain volatile driven by developments in the West Asia conflict, sharp movements in crude oil prices and continuous foreign fund outflows.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 98 points, or 0.41 per cent, at 23,818, signaling that Dalal Street was headed for a negative start on Thursday.

• Tech View: A death cross occurs when the 50DMA cuts the 200DMA from above. If this happens, further rounds of selling pressure could emerge, potentially pushing the Nifty significantly lower. Supports are placed at 23,700 and 23,300, while on the higher end, resistance is placed at 24,100.
• India VIX: India VIX, which is a measure of the fear in the markets, rose 11% to settle at 21.06 levels.

S&P 500, Dow end lower
U.S. stocks closed lower on Wednesday as markets largely looked past a tame inflation report, focusing instead on intensifying hostilities and mounting repercussions related to the U.S.-Israeli war on Iran.

• Dow off 0.61%,
• S&P 500 slips 0.08%,
• Nasdaq gains 0.08%

Asian shares down
US equity futures and Asian stocks declined on Thursday, extending a volatile week, as another rally in oil prices and mounting strain in the private credit market weighed on investor sentiment.

• S&P 500 futures fell 0.8% as of 9:28 a.m. Tokyo time
• Hang Seng futures fell 0.2%
• Japan’s Topix fell 1.3%
• Australia’s S&P/ASX 200 fell 1.5%
• Euro Stoxx 50 futures fell 0.6%

Oil gains
Oil rose in Asia on Thursday even after announcements of huge releases of crude from strategic reserves in an attempt to bring down prices in the wake of the Iran war.

Gold dips
Gold prices edged lower on Thursday, pressured by a firmer dollar, while higher oil prices renewed inflation worries and dampened hopes for near-term interest rate cuts.

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 6,267 crore on Wednesday. DIIs, meanwhile, were net buyers at Rs 4,966 crore.

Rupee
The rupee declined 16 paise to settle at 92.01 against the US dollar on Wednesday, weighed down by a sharp rise in global crude oil prices and a stronger greenback as the war in West Asia raged on.

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