Nifty ended marginally higher for the second straight session on Wednesday, led by strength in index heavyweights such as L&T and Sun Pharma. In today’s trade, markets will react to Trump’s 25% tariff announcement.
Given the likelihood of volatile swings, analysts recommend maintaining a cautious stance and prefer a hedged approach.
Stock-specific action will likely continue as the earnings season gathers pace.
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 179 points, or 0.73 per cent, at 24,675, signaling that Dalal Street was headed for negative start on Wednesday.
Tech View: The short-term trend remains slightly weak as the index continues to sustain below this critical moving averageIndia VIX: India VIX, which is a measure of the fear in the markets, rose 2.8% to settle at 11.20 levels.
Live EventsUS stocks off highs
U.S. stocks closed well off earlier highs after a choppy session on Wednesday, as Federal Reserve Chair Jerome Powell chilled expectations the central bank might be poised to cut rates at its September meeting.
Dow off 0.38%, S&P 500 off 0.12%, Nasdaq up 0.15%
US futures up, Asian shares mixed
US equity-index futures rose on robust earnings from megacap tech companies after a volatile session on Wall Street. Asian shares were trading mixed.
S&P 500 futures rose 0.8% as of 9:19 a.m. Tokyo timeHang Seng futures fell 1%Japan’s Topix rose 0.4%Australia’s S&P/ASX 200 fell 0.5%Euro Stoxx 50 futures rose 0.4%
Gold rebounds
Gold prices rebounded on Thursday from a one-month low hit in the previous session, as trade uncertainty stemming from fresh U.S. tariff announcements lifted bullion demand and investors bought on dips despite reduced expectations of a U.S. rate cut.
Dollar rises
The dollar flirted with a two-month peak on Thursday after Federal Reserve Chair Jerome Powell stuck to his patient approach on rates in a closely watched policy decision and offered little insight on when they could be lowered.
Oil gains
Oil prices gained for a fourth straight day on Thursday, as investors worried about supply shortages amid U.S. President Donald Trump’s push for a swift resolution to the war in Ukraine and threats of tariffs on countries buying Russian oil.
Stocks in F&O ban today
NIL
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 850 crore on Wednesday. DIIs, meanwhile, were net buyers at Rs 1,829 crore.
Rupee
The rupee depreciated 52 paise to close at 87.43 against the US dollar on Wednesday, on uncertainty over India-US trade deal.
FII data
The position of FIIs in the futures market increased from a net short of Rs 1.70 lakh crore on Tuesday to Rs 1.73 lakh crore on Wednesday.