The Nifty slipped on monthly expiry, as markets reacted to the 50% tariffs imposed on August 27. Analysts say supportive policy measures around GST reforms, import duty relaxations, and the broader ‘Swadeshi’ push are expected to lend resilience to domestic markets amid global trade headwinds.
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 50 points, or 0.20 per cent, at 24,676, signaling that Dalal Street was headed for a positive start on Friday.Tech View: If this level fails to hold, the next crucial support is seen at the 200-DMA, which is positioned around 24,070. On the flip side, a sustained move back above 24,700 could change the momentum and trigger a short-covering rally, paving the way for an upside move towards the 25,000 mark.India VIX: India VIX, which is a measure of the fear in the markets, fell 0.12% to settle at 12.18 levels.
US stocks end higher
The S&P 500 and Dow Jones Industrial Average notched record high closes on Thursday after Nvidia’s quarterly report fell short of investors’ high expectations but confirmed that spending related to artificial intelligence infrastructure remains strong.
S&P 500 +0.32%, Nasdaq +0.53%, Dow +0.16%
Asian shares mixed
Asian equities opened subdued after US stocks set a new high, lifted by data underscoring economic strength ahead of the Federal Reserve’s favored price gauge due Friday.
Live EventsS&P 500 futures were little changed as of 9:27 a.m. Tokyo timeHang Seng futures rose 0.8%Japan’s Topix fell 0.4%Australia’s S&P/ASX 200 fell 0.3%Euro Stoxx 50 futures were unchanged
Dollar dips
The dollar wobbled on Friday, poised for a 2% drop in August against major currencies on rising odds of the Federal Reserve cutting interest rates next month while worries about the threats to the U.S. central bank’s independence linger.Gold rises
Gold prices hovered on Friday near their highest point in more than one month, as an overall softer dollar and increased expectations for a U.S. Federal Reserve interest rate cut in September lifted demand for bullion. 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.
Rupee
The rupee rose by 6 paise to close at 87.63 against the US dollar on Thursday aided by a weaker greenback and a decline in crude oil prices.
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