GIFT Handy down 65 points; here is the trading setup for today’s session

Indian stock markets closed higher on Wednesday on positive global cues and investor optimism surrounding the completion of the India-EU free trade deal. Looking ahead, analysts expect that the positive market momentum of the past two days could continue, supported by positive sentiments around the India-EU FTA and the upcoming Budget, while keeping an eye on global cues and the ongoing third quarter earnings season.STATE OF THE MARKETS
GIFT Nifty (earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX was trading 65 points, or 0.26 percent, lower at 25,361, indicating that Dalal Street was heading for a negative start on Thursday.

• Technical representation: The overall structure remains positive, with room for the upward move towards the 25,500-25,600 zone, where the immediate hurdle of the 100-DMA is at the 25,600 level.
• India VIX: The India VIX, a measure of market fear, fell 6% to 13.52 levels.

Nasdaq ends higher
The Nasdaq rose slightly, thanks to a boost from chip stocks, while the S&P 500 closed virtually unchanged on Wednesday as investor reactions were muted after the Federal Reserve kept interest rates unchanged as expected and gave little indication of when borrowing costs might fall again.

• Dow up 0.02%,
• S&P 500 fell 0.01%,
• Nasdaq rises 0.17%

Asian stocks mixed
Stocks lost momentum, with contracts for the S&P 500 Index falling as much as 0.3%. Megacap tech gains were mixed after the Wall Street session was mixed, while Asian shares were slightly lower.

• S&P 500 futures fell 0.1% as of 10:03 a.m. Tokyo time
• Hang Seng futures fell 0.9%
• Nikkei 225 futures (OSE) fell 0.4%
• Japan’s Topix fell 0.1%
• Australia’s S&P/ASX 200 fell 0.8%
• Euro Stoxx 50 futures were little changed

Gold extends the rally
Spot gold continued its record rally on Thursday, approaching $5,600 an ounce level as investors sought safety amid geopolitical and economic tensions, while silver is expected to breach the $120 mark in the near term.


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 bought net shares worth Rs 480 crore on Thursday. DIIs, meanwhile, were net buyers at Rs 3,360 crore.

Rupee
The rupee devalued by 31 paise to settle at 91.99 against the US dollar on Wednesday. This saw it reach its lowest closing level for the second time in less than a week, amid increased demand for the dollar at the end of the month.

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