STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 30 points, or 0.12 per cent, at 24,833, signaling that Dalal Street was headed for negative start on Wednesday.
- Tech View: With conflicting technical signals and investors awaiting the outcome of the Fed policy meeting, we expect rangebound movement in the immediate term. A decisive break below 24,850 could trigger further bearishness, while on the higher side, 25,000 is likely to remain a strong resistance.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 2.9% to settle at 14.40 levels.
US stocks end lower
U.S. stocks ended lower on Tuesday as the Israel-Iran conflict raged on for a fifth day and kept investor anxiety high, with the U.S. military moving fighter jets to the Middle East.
- Dow down 0.7%,
- S&P 500 dips 0.8%,
- Nasdaq falls 0.9%
Asian shares dip
Oil climbed and most stocks in Asia followed losses on Wall Street as concerns mounted that an escalation of tensions in the Middle East will trigger a more direct US involvement.
- S&P 500 futures fell 0.1% as of 9:06 a.m. Tokyo time
- Hang Seng futures fell 0.7%
- Japan’s Topix was little changed
- Australia’s S&P/ASX 200 fell 0.1%
- Euro Stoxx 50 futures fell 0.9%
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Gold steady
Gold prices held steady on Wednesday, as escalating tensions between Israel and Iran entered their sixth day, while a stronger dollar capped gains ahead of the U.S. Federal Reserve’s policy decision due later in the day.
Oil climbs
Oil prices ticked up in early trading on Wednesday after ending the previous session up more than 4% on worries that the Iran-Israel conflict could disrupt supplies.
Stocks in F&O ban today
IREDA
CDSL
ABFRL
Chambal Fertilisers
Hudco
RBL Bank
Titagarh
Birlasoft
Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.
FII/DII action
Foreign portfolio investors net sold shares worth Rs 1,483 crore on Tuesday. DIIs, meanwhile, were net buyers at Rs 8,207 crore.
Rupee
The rupee declined 30 paise to close at 86.34 against the greenback on Tuesday, weighed down by a rise in global crude oil prices amid the escalating Iran-Israel war and a strengthening dollar.
FII data
The position of FIIs in the futures market reduced from a net short of Rs 1.01 lakh crore on Monday to Rs 99,483 crore on Tuesday.
