GIFT Nifty futures up 40 points; markets that are likely to open higher amid positive global signals
Markets are expected to start Thursday’s session on a positive note, with the GIFT Nifty trading 40 points higher at 23,306, signaling a strong opening for domestic equities. However, the prospect of caution exists as traders navigate global economic signals and continued foreign capital outflows.
Market conditions
GIFT Nifty signals are a good start
GIFT Nifty gained 40 points or 0.18 percent, indicating early strength on Dalal Street. This comes amid the second consecutive day of gains for the Nifty in the previous session.
Technical view
The daily chart suggests a negative pattern of tops and bottoms, indicating potential market resistance. Analysts predict that the current jump may lead to the formation of another lower peak in the short term.
India VIX
India VIX, a measure of market volatility, fell 3.3 percent to 15.47, indicating reduced fear among market participants.
World markets
Asian stocks are rising
Asian stocks rose, tracking Wall Street’s overnight session. Japan’s Topix gained 0.8 percent, Australia’s S&P/ASX 200 advanced 0.3 percent, while Euro Stoxx 50 futures rose 0.3 percent.
US markets are mixed
US markets saw a strong rally, with all three major indexes posting their biggest daily gains in two months. Lower-than-expected core inflation and strong earnings reports boosted optimism.
Some important features
The dollar rally is resting
The US dollar saw a slight retreat as traders awaited inflation data, which could influence Federal Reserve rate decisions.
Gold prices have fallen
Gold remained firm as investors remained cautious ahead of inflation data that could signal the Fed’s policy direction.
List of F&O restrictions
Stocks on the F&O ban today include Angel One, RBL Bank, Hindustan Copper, LT Finance, Bandhan Bank, and Aarti Industries.
FII/DII activity
Foreign investors were sellers, withdrawing Rs 8,132 crore on Tuesday, while domestic investors bought shares worth Rs 7,901 crore.
Rupees are back
The rupee ended 8-month high at 86.62 against the US dollar, recovering from its record low.
With mixed global indices and continued FII selling, the markets are ready for a cautious but optimistic period.
