Nifty today: GIFT Nifty up 40 points; here’s the trading setup for today’s session

Domestic equities ended slightly lower on Friday amid cautious global cues and broad-based sectoral weakness. Analysts expect markets to maintain its positive momentum in June on the back of strong Q4 GDP numbers, hopes of RBI rate cut and consistent institutional inflows.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 40 points, or 0.16 per cent, at 24,877, signaling that Dalal Street was headed for positive start on Monday.

• Tech View: Nifty has been struggling to move beyond a certain level. Immediate support is placed at 24,700; a breach below this level could lead to a decline towards 24,500. On the higher side, 24,800 is likely to act as a crucial resistance, as call writers have built significant positions at that level.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 2.09% to settle at 16.08 levels.

Asian shares drop
Asian shares dropped along with US stock-index futures as trade tensions dialed up, prompting investors to hold back on taking risky bets. Gold rose in demand for safe haven assets.

• S&P 500 futures fell 0.3% as of 9:33 a.m. Tokyo time
• Japan’s Topix fell 0.8%
• Australia’s S&P/ASX 200 was little changed
• Euro Stoxx 50 futures were little changed

S&P 500 ends flat
The S&P 500 ended a volatile session little changed on Friday as U.S. President Donald Trump slammed China before sounding upbeat about reaching a trade deal, but the benchmark index tallied its biggest monthly increase since November 2023.

Dollar declines
The U.S. dollar edged lower on Monday, giving back some of its gains from last week, as markets weighed the outlook for President Donald Trump’s tariff policy and its potential to constrict growth and unleash inflation.
Oil rebounds
Oil prices rebounded more than $1 a barrel on Monday after OPEC+ decided to increase output in July by the same amount as it did in each of the prior two months, in line with market expectations.
Stocks in F&O ban today

Manappuram
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 6,450 crore on Friday. DIIs, meanwhile, were net buyers at Rs 9,096 crore.

Rupee
The rupee pared its initial gains to settle 7 paise lower at 85.55 against the US dollar on Friday, as volatility in domestic equities and recovering global crude prices pressured the local currency.

FII data
The position of FIIs in the futures market increased from a net short of Rs 77,963 crore on Thursday to Rs 83,684 crore on Friday.