GIFT Useful 70 points; here is the trading setup for today’s session

GIFT Useful 70 points; here is the trading setup for today’s session

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Indian stock markets fell for the second consecutive session due to profit booking in heavyweight stocks and renewed geopolitical concerns. Analysts expect the market to trade sideways, with the battle between positive third-quarter business updates undermined by geopolitical uncertainty.STATE OF THE MARKETS
GIFT Nifty (earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX was trading 72.50 points, or 0.28 percent, lower at 26,208.50, indicating that Dalal Street was heading for a negative start on Wednesday.

  • Technical representation: The Nifty has fallen as weakness continues to prevail after the formation of a new lifetime high yesterday. On the downside, it found intraday support around 26100. It looks like the trend will remain within a certain range in the short term.
  • India VIX: India’s VIX, which is a measure of fear in the markets, fell 0.05% to the level of 10.02.

US stocks end higher
Wall Street ended higher on Tuesday as chip stocks rose on renewed AI optimism, Moderna rebounded and the Dow Jones Industrial Average hit a record high.

  • S&P500 +0.62%,
  • Nasdaq +0.65%,
  • Dow +0.99%

Asian shares fall
Asian shares, which had their best ever start to the year, took a breather on Wednesday, with Japanese shares slipping as tensions with China slump.

  • Futures on the S&P 500 were unchanged at 9:13 a.m. Tokyo time
  • Hang Seng futures fell 0.1%
  • Japan’s Topix fell 0.5%
  • Australia’s S&P/ASX 200 rose 0.2%
  • Euro Stoxx 50 futures rose 0.2%

Shares in F&O ban today
SAIL
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 portfolio investors sold net shares worth Rs 107 crore on Tuesday. DIIs, meanwhile, were net buyers at Rs 1,749 crore.Rupee
The rupee broke its four-day losing streak and rose 12 paise to settle at 90.18 against the US currency on Tuesday, driven by dollar supply from foreign banks and a cautious return of foreign fund inflows.

(Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of Economic Times)

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