GIFT Handy down 30 points; here is the trading setup for today’s session

The benchmark index Nifty fell for the second straight session, ending almost flat with a modest decline of 27 points at 26,175. The index lost about 150 points from its recent record high of 26,322, mainly due to profit booking by investors after the strong rally.Globally, US markets were weak, with both the Dow Jones and Nasdaq closing in the red. In contrast, sentiment in Asian markets was mixed, with Japan’s Nikkei trading around 0.5% higher, providing some regional support.

STATE OF THE MARKETS
GIFT Nifty (earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX was trading 26.50 points, or 0.10 percent, lower at 26,333.50, indicating that Dalal Street was heading for a negative start on Tuesday.Technical representation: Nifty formed a bearish candle on the daily chart, indicating a break in the ongoing trend and the potential for some consolidation before the next upward move.

India VIX: The India VIX, which is a measure of market fear, ended flat at 11.63, indicating trading within a narrow range.

Asian shares rise
Asian shares edged higher at the open, staging a cautious recovery after Monday’s sell-off, with cryptocurrencies leading the decline in global risk assets.

• Futures on the S&P 500 were little changed at 9:34 a.m. Tokyo time
• Hang Seng futures rose 0.6%
• Nikkei 225 futures (OSE) rose 0.6%
• Japan’s Topix rose 0.3%
• Australia’s S&P/ASX 200 rose 0.2%
• Euro Stoxx 50 futures were little changed

US stocks fall
U.S. stocks moved lower on Monday, lifted by a rise in Treasury yields and economic data showing tariff pressure on the manufacturing sector, as investors looked ahead to the Federal Reserve’s policy announcement next week.

• Dow value 0.62%,
• S&P500 0.34%,
• Nasdaq 0.29%

Gold slides
Gold fell in early trading in Asia on Tuesday, after hitting a six-week peak in the previous session, as investors booked gains as they waited for comments from the Federal Reserve chairman and key economic data for clues to interest rate cuts.

Dollar under pressure
The US dollar remained under pressure on Tuesday after weaker-than-expected data on industrial activity in the world’s largest economy increased pressure on the Federal Reserve to cut interest rates at its policy meeting later this month.

Oil rises
Oil prices rose in early trading on Tuesday for a second straight session as market participants assessed risks posed by Ukrainian drone strikes on Russian energy sites and rising tensions between the US and Venezuela. Brent crude futures rose 14 cents, or 0.2%, to $63.31 a barrel by 0102 GMT. U.S. West Texas Intermediate crude gained 18 cents, or 0.3%, to $59.50 a barrel.

Shares in F&O ban today
Sammaan capital
Securities in the ban period under the F&O segment include companies in which the security has exceeded 95% of the market-wide position limit.

FII/DII action
Foreign institutional investors sold shares worth Rs 1,171.31 crore on net on Monday. DIIs, meanwhile, were net buyers at Rs 2,558.93 crore.

Rupee
The Indian rupee slid to a record low on Monday, pressured by maturing non-deliverable forward positions and an ongoing bearish pall on the currency, as India remains one of the few major economies without a trade deal with the US. The rupee hit a low of 89.7575 during the session before closing at 89.5475, down 0.1% on the day.

Weakness in trade and investment flows has kept the rupee under pressure this year despite India’s status as the world’s fastest-growing major economy, pushing local stock indexes to record highs in recent sessions.

Traders said the maturity of large positions in the NDF market hurt the rupee on Monday. However, the central bank’s intervention in dollar sales helped the currency stay above the psychologically important 90 level, she added.