Nifty today: GIFT Nifty up 75 points; here’s the trading setup for today’s session – News Air Insight

Indian equities witnessed a bloodbath on Thursday, snapping a three-day positive streak, as escalating tensions in West Asia triggered a global risk-off sentiment. Going ahead, analysts say markets appear to be in a phase of heightened fragility, where sentiment is being driven by rapidly evolving geopolitical developments and sharp rise in crude prices.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start

GIFT Nifty on the NSE IX traded higher by 75 points, or 0.33 per cent, at23,195, signaling that Dalal Street was headed for positive start on Friday.

• Tech View: Going forward, a decisive fall below 23,000 might trigger further downside towards 22,700 or even lower. On the other hand, a decisive move above 23,000 could push the index towards 23,350.
• India VIX: India VIX, which is a measure of the fear in the markets, rose 22% to settle at 22.80 levels.

Asian shares open higher
Asian equities advanced at the open Friday after US stocks rebounded from session lows and oil retreated amid efforts by leaders of the US and Israel to calm concerns over the Iran war.

• S&P 500 futures rose 0.3% as of 9:13 a.m. Tokyo time
• Hang Seng futures fell 0.6%
• Australia’s S&P/ASX 200 fell 0.3%
• Euro Stoxx 50 futures fell 2.2%

US stocks end lower
Wall Street ended lower on Thursday, with declines in Micron Technology and Tesla, as worries about inflation stemming from soaring oil prices left investors pessimistic about the potential for future interest rate cuts.

• S&P 500 down 0.27%,
• Nasdaq dips 0.28%,
• Dow falls 0.44%

Gold gains
Gold prices inched up on Friday, but were headed for a third consecutive weekly decline, pressured by a firm dollar and a hawkish U.S. Federal Reserve that has dampened hopes for near-term rate cuts.

Oil falls
Oil prices fell on Friday as leading European nations and Japan offered to join efforts to secure safe passage for ships through the Strait of Hormuz and the U.S. outlined moves to boost oil supply.

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 7,558 crore on Thursday. DIIs, meanwhile, were net buyers at Rs 3,864 crore.

Rupee
The rupee on Wednesday touched a fresh record low of 92.63 against the US dollar, amid a firming greenback and continued foreign fund outflows.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)