STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 37 points, or 0.14 per cent, at 25,702.50, signaling that Dalal Street was headed for a positive start on Tuesday.
- Tech View: The broader market structure remains constructive, favouring a buy-on-dips approach, with immediate support placed at 25,300. A decisive breakout above 25,650 would likely pave the way for continued upward momentum toward the 25,800 level.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 2.01% to settle at 12.30 levels.
US stocks end higher
Wall Street ended sharply higher on Monday, led by big gains in Nvidia, Palantir and other heavyweight AI-related companies following progress in Washington to end a record government shutdown.
- S&P 500 +1.54%,
- Nasdaq +2.27%,
- Dow +0.81%
Asian shares gain
Asian stocks advanced for a second consecutive day as progress toward ending the record-long US government shutdown lifted sentiment, sparking a cross-asset rally from commodities to cryptocurrencies.
- S&P 500 futures were little changed as of 9:31 a.m. Tokyo time
- Hang Seng futures fell 0.2%
- Nikkei 225 futures (OSE) rose 0.7%
- Japan’s Topix rose 0.6%
- Australia’s S&P/ASX 200 rose 0.1%
- Euro Stoxx 50 futures rose 0.5%
Gold extends gain
Gold extended gains to a near three-week high on Tuesday, as growing expectations of another U.S. Federal Reserve interest rate cut in December lifted demand for the safe-haven asset.
Yen under pressure
The safe-haven yen was pinned near its weakest levels for months on Tuesday while riskier currencies were firm against the dollar, as traders waited to see whether U.S. lawmakers could secure an end to the government shutdown in coming days.
Stocks in F&O ban today
1) 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 4,114 crore on Monday. DIIs, meanwhile, were net buyers at Rs 5,805 crore.
Rupee
The rupee depreciated 8 paise to settle at 88.73 against the US dollar in a muted session on Monday, weighed down by elevated crude oil prices.
Indian equities began the week on a flat note on the back of some positive cues from Asian markets. Markets continued to build on the momentum with the IT sector contributing a large part of the gain. Analysts expect markets to remain range-bound tracking global cues, while optimism around better than expected corporate earnings and any progress in India–U.S. trade talks could provide upside support.