Indian equities ended higher, led by a sharp rally in metal stocks and optimism around the GST council meet. Analysts expect the market to remain range-bound, tracking global cues and sector-specific developments with policy decisions from the GST Council serving as the immediate catalyst.
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 148.50 points, or 0.59 per cent, at 24,960.50, signaling that Dalal Street was headed for a positive start on Thursday.
Tech View: A decisive move above 24,750 could trigger a stronger rally, potentially taking the Nifty towards 25,000. On the downside, support is placed at 24,650, and a break below this level may lead to a decline towards 24,500.India VIX: India VIX, which is a measure of the fear in the markets, fell 4.1% to settle at 10.93 levels.
Nasdaq, S&P 500 end higher
The Nasdaq rose 1% and the S&P 500 also ended higher on Wednesday as Alphabet jumped after a U.S. judge ruled against breaking up the Google parent and as investors were optimistic that the Federal Reserve would cut interest rates this month.
Dow down 0.1%; S&P 500 up 0.5%; Nasdaq rises 1%
Asian shares climb
Asian equities climbed with Wall Street after weak US job openings data reinforced bets on a Federal Reserve interest-rate cut.
S&P 500 futures rose 0.2% as of 9:32 a.m. Tokyo timeHang Seng futures were little changedNikkei 225 futures (OSE) rose 0.9%Japan’s Topix rose 0.6%Australia’s S&P/ASX 200 rose 0.8%Euro Stoxx 50 futures rose 0.2%Gold steady
Live EventsGold held steady on Thursday, hovering near all-time high hit in the previous session, buoyed by global uncertainties and increased expectations for a U.S. interest rate cut, while investors looked forward to a key U.S. jobs data due this week.
Stocks in F&O ban today
1) RBL BankSecurities 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 1,666 crore on Wednesday. DIIs, meanwhile, were net buyers at Rs 2,495 crore.
Rupee
The rupee recovered 13 paise from its all-time low level to settle at 88.02 against US dollar on Wednesday, on positive domestic equities, softening of crude oil prices and weak US dollar index.
FII Data
The position of FIIs in the futures market increased from a net short of Rs 1.8 lakh crore on Tuesday to Rs 1.82 lakh crore on Wednesday.
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