GIFT Handy down 55 points; here is the trading setup for today’s session

Indian stock markets closed mixed on Thursday after opening lower, supported by a pre-Budget rally and optimism around the India-European Union free trade deal. Analysts say markets are expected to remain within a range, with stock-specific action likely to dominate ahead of the Budget.STATE OF THE MARKETS
GIFT Nifty (earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX was trading 55 points (0.22 percent) lower at 25,461, indicating that Dalal Street was heading for a negative start on Friday.

• Technical representation: Immediate resistance is at the 100-DMA near 25,600, and a decisive break above this level would confirm a short-term bottom.
• India VIX: India’s VIX, a measure of market fear, fell 1.1% to 13.37.

S&P 500 and Nasdaq end lower
The S&P 500 and the tech-heavy Nasdaq closed lower Thursday as investors were shaken by the latest earnings reports and worried about whether heavy spending on artificial intelligence would pay off for mega-cap tech companies.

• Dow up 0.11%,
• S&P 500 fell 0.13%,
• Nasdaq discount of 0.72%

Asian stocks mixed
Futures contracts for the S&P 500 Index and the Nasdaq 100 Index fell 0.2% early Friday. Technology stocks were in focus after Apple said rising component costs threaten to squeeze margins even as profits beat expectations.
The company’s shares rose in extended trading, while Asian shares also posted modest gains at market open.

• S&P 500 futures fell 0.2% as of 9:30 a.m. Tokyo time
• Hang Seng futures fell 0.8%
• Nikkei 225 futures (OSE) were little changed
• Japan’s Topix rose 0.6%
• Australia’s S&P/ASX 200 rose 0.3%
• Euro Stoxx 50 futures rose 0.9%

Dollar slips away
The dollar was set for a second straight weekly decline on Friday as tariff threats against countries trading with Cuba have heightened global tensions, undermining demand for US assets.

Shares in F&O ban today

NIL

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 portfolio investors sold net shares worth Rs 394 crore on Thursday. DIIs, meanwhile, were net buyers at Rs 2,639 crore.

Rupee
The rupee remained at an all-time low of 91.99 against the US dollar, driven by selling pressure from foreign funds and risky sentiment in global markets.

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