Indian equities rebounded on Tuesday after a three-day losing streak. Analysts expect the markets to witness selective buying, driven by quarterly results; while broader sentiment would hinge on macroeconomic data and progress in the India-US trade deal.
Stock-specific action will likely continue as the earnings season gathers pace.
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded lower by 17 points, or 0.07 per cent, at 24,822.50, signaling that Dalal Street was headed for muted start on Wednesday.Tech View: On the higher side, Nifty may move towards 24,950–25,000. A decisive move above 25,000 could trigger a rally towards 25,200. On the downside, support is placed at 24,750.”India VIX: India VIX, which is a measure of the fear in the markets, fell 4.5% to settle at 11.52 levels.
US stocks slip
U.S. stocks closed lower on Tuesday as the S&P 500 and Nasdaq retreated from record highs after some disappointing corporate earnings, while investors awaited a Federal Reserve policy statement.
Dow down 0.46%, S&P 500 dips 0.30%, Nasdaq falls 0.38%
Live EventsAsian shares mixed
Asian equities struggled for direction ahead of the Federal Reserve’s policy decision, while a modest progress in US-China trade talks did little to boost sentiment.
S&P 500 futures were little changed as of 9:25 a.m. Tokyo timeHang Seng futures fell 0.5%Japan’s Topix was little changedAustralia’s S&P/ASX 200 was little changedEuro Stoxx 50 futures rose 0.8%
Gold steady
Gold prices steadied on Wednesday as investors held back on making big bets ahead of the Federal Reserve’s policy statement later in the day for cues into future rate cuts, while focus remained on U.S. trade talks ahead of the August 1 deadline.
Euro steadies
The euro steadied near its lowest in a month on Wednesday, nursing steep losses this week as investors counted the cost of the U.S.-EU trade pact and looked ahead to policy meetings from the Federal Reserve and the Bank of Japan.
Stocks in F&O ban today
RBL Bank
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 4,637 crore on Tuesday. DIIs, meanwhile, were net buyers at Rs 6,147 crore.
Rupee
The rupee depreciated 12 paise to close at 86.82 against the US dollar on Tuesday, weighed down by a jump in the US dollar index and a surge in crude oil prices.
FII data
The position of FIIs in the futures market increased from a net short of Rs 1.64 lakh crore on Monday to Rs 1.70 lakh crore on Tuesday.