Nifty closed higher on Wednesday, tracking positive global cues amid easing tariff concerns and optimism around international trade developments. Analysts expect stock-specific action to persist as earnings remain the key driver for near-term market direction.
Stock-specific action will likely continue as the earnings season gathers pace.
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 42 points, or 0.17 per cent, at 25,290.50, signaling that Dalal Street was headed for positive start on Thursday.Tech View: The RSI on the daily chart is in a bullish crossover and rising above the 50 mark, further reinforcing the positive momentum. In the short term, sentiment is likely to remain optimistic. On the higher side, Nifty may move towards 25,500, while support is placed at 24,900. A break below this level could weaken the current trend.India VIX: India VIX, which is a measure of the fear in the markets, fell 2.2% to settle at 10.52 levels.
US stocks end higher
The S&P 500 and Nasdaq notched record high closes on Wednesday, lifted by Nvidia and GE Vernova, as the European Union and the U.S. appeared headed toward a trade deal similar to an agreement President Donald Trump struck withJapan.
Live EventsS&P 500 gains 0.78%, Nasdaq rises 0.61%, Dow up 1.14%
Asian stocks gain
Asian equities climbed for a sixth consecutive day as signs the US will do more trade deals after striking a pact with Japan injected fresh vigor into stocks.
S&P 500 futures were little changed as of 9:22 a.m. Tokyo timeHang Seng futures fell 0.1%Japan’s Topix rose 1.3%Australia’s S&P/ASX 200 was little changedEuro Stoxx 50 futures rose 1.1%
Gold flat
Gold prices held steady on Thursday after a sharp drop in the previous session, as easing trade tensions dented demand for safe-haven assets, overshadowing support from a weaker dollar.Oil rises
Oil prices rose on Thursday, buoyed by optimism over U.S. trade negotiations that would ease pressure on the global economy and a sharper-than-expected decline in U.S. crude inventories.
Stocks in F&O ban today
Bandhan Bank
RBL Bank
IEX
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 4,209 crore on Wednesday. DIIs, meanwhile, were net buyers at Rs 4,358 crore.
Rupee
The Indian rupee ended marginally weaker on Wednesday with the strength in the Chinese yuan and exporter activity helping the currency hold above a psychologically important support level.
FII data
The position of FIIs in the futures market reduced from a net short of Rs 1.48 lakh crore on Tuesday to Rs 1.45 lakh crore on Wednesday.