GIFT Useful 60 points; here is the trading setup for today’s session

Indian markets closed flat on Wednesday after posting gains after a strong start to the session. Attention will focus on the first US unemployment benefits figures released today. Analysts expect markets to remain within a range in the near term, monitoring global signals and second-quarter earnings announcements.

STATE OF THE MARKETS
GIFT Nifty (earlier SGX Nifty) marks a positive start
GIFT Nifty on the NSE IX was trading 61 points (0.24 percent) higher at 25,153.50, indicating that Dalal Street was heading for a positive start on Thursday.

• Technical representation: The current uptrend is likely to remain intact as long as the index remains above 24,970; sentiment could change below 24970-24940. On the higher side, resistance is placed at the 25,250 and 25,400-25,500 levels.
• India VIX: India’s VIX, a measure of market fear, rose 2.6% to 10.31.

US stocks end higher
Technology stocks pushed U.S. stocks higher on Wednesday as, in the absence of economic data during the government shutdown, investors looked to the minutes of the Federal Reserve’s latest policy meeting for clues to the outlook for interest rates.

• Dow flat,
• S&P 500 rises 0.58%,
• Nasdaq 1.12%

Asian shares rise
Asian shares rose at the open as a renewed wave of buying in companies linked to the artificial intelligence boom lifted Wall Street benchmarks to new highs. Gold and oil edged lower after a Middle East peace deal.

• Futures on the S&P 500 were little changed at 9:15 a.m. Tokyo time
• Japan’s Topix rose 0.3%
• Australia’s S&P/ASX 200 rose 0.4%
• Euro Stoxx 50 futures rose 0.7%

Oil falls
Oil prices fell in early trading on Thursday after Israel and Hamas agreed to the first phase of a plan to end the war in Gaza. This weighed on oil’s war risk premium and forced investors to sell.

Dollar stable
The dollar was steady on Thursday, on track for its best week in almost a year, buoyed by a weak yen that has struggled due to a change of guard in Japan’s ruling party.

Shares in F&O ban today

1) RBL bank

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.

Be/Dii promotion
Foreign portfolio investors bought net shares worth Rs 81 crore on Wednesday. DIIs, meanwhile, were net buyers to the tune of Rs 330 crore.

Rupee

The rupee witnessed intra-band trading on Wednesday and settled three paise lower for the day at 88.80 against the US dollar. This followed a negative trend in domestic equities amid a rise in risk sentiment.