STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 79.50 points, or 0.32 per cent, at 25,157, signaling that Dalal Street was headed for positive start on Wednesday.
- Tech View: The overall sentiment remains positive, with a possibility of a rise towards 25,350. Immediate support is placed at 25,000; a break below this level could lead to a drift towards 24,850. On the other hand, if the index holds above 25,000, strength may persist, and the sentiment could favour long traders.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 2.9% to settle at 13.64 levels.
US stocks end higher
U.S. stocks rallied more than 1% on Tuesday as investors welcomed a fragile truce with Israel and Iran while parsing Federal Reserve Chair Jerome Powell’s congressional testimony for clues regarding the U.S. central bank’s path forward.
- Dow up 1.19%,
- S&P 500 rises 1.11%,
- Nasdaq gains 1.43%
Asian shares muted
Stocks in Asia opened on a cautious note as the Israel-Iran truce appeared to hold and Federal Reserve Chair Jerome Powell gave balanced comments on prospects for rate cuts.
- S&P 500 futures were unchanged as of 9:12 a.m. Tokyo time
- Hang Seng futures rose 0.8%
- Japan’s Topix fell 0.2%
- Australia’s S&P/ASX 200 rose 0.1%
- Euro Stoxx 50 futures rose 1.5%
Oil edges higher
Oil prices edged higher on Wednesday, finding some respite after plummeting in the last two sessions, as investors assessed the stability of a ceasefire between Iran and Israel.
Dollar struggles
The dollar struggled to regain lost ground on Wednesday as investors who have been starved of good news latched onto optimism over a fragile truce between Israel and Iran as a reason to take on more risk.
Gold gains
Gold prices held their ground on Wednesday as a tentative ceasefire between Iran and Israel dampened safe-haven demand, though a weaker dollar and bargain-hunting after bullion’s decline in the previous session helped limit losses.
Stocks in F&O ban today
Titagarh
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 5,266 crore on Tuesday. DIIs, meanwhile, were net bought at Rs 5,209 crore.
Rupee
Rupee surged 81 paise to close at 85.97 against the US dollar on Tuesday.
FII data
The position of FIIs in the futures market increased from a net short of Rs 1.02 crore on Monday to Rs 1.09 lakh crore on Tuesday.
