Nifty ended higher for the fifth consecutive session, supported by gains in IT stocks. Overall, analysts expect the near-term market outlook to be positive on the back of government’s policy support and consumption boost.
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded higher by 3.5 points, or 0.01 per cent, at 25,083.50, signaling that Dalal Street was headed for a muted start on Thursday.
Tech View: The Nifty is expected to remain a “buy on dips” as long as it holds above 24,800. On the higher side, resistance is placed at 25,250, above which the index may extend its gains towards 25,500.India VIX: India VIX, which is a measure of the fear in the markets, fell 0.042% to settle at 11.78 levels.
US stocks down
The Nasdaq and S&P 500 fell on Wednesday as investors sold tech stocks and moved into less highly valued sectors, as they also awaited remarks from Federal Reserve officials at their Jackson Hole symposium this week.Asian shares mixed
Asian equities were primed for a muted open Thursday as whipsawing trade on Wall Street favored bonds over stocks ahead of a key gathering of Federal Reserve officials.
S&P 500 futures were little changed as of 8:17 a.m. Tokyo timeHang Seng futures rose 0.2%S&P/ASX 200 futures rose 0.3%
Live EventsGold steady
Gold prices were steady on Thursday as investors awaited cues into the Federal Reserve’s policy outlook ahead of the Jackson Hole symposium in Wyoming, which begins later in the day.
Oil gains
Oil prices gained slightly on Thursday as larger-than-expected declines crude oil and fuel inventories in the U.S., the world’s biggest oil user, supported expectations for steady demand. Brent crude futures were up 13 cents, or 0.19%, to $66.97 a barrel at 0055 GMT, after gaining 1.6% in the previous session. U.S. West Texas Intermediate (WTI) crude futures rose 15 cents, or 0.24%, to $62.86, after climbing 1.4% on Wednesday.
Stocks in F&O ban today
PGEL
RBL Bank
Titagarh
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 1,100 crore on Wednesday. DIIs, meanwhile, were net buyers at Rs 1806 crore.
Rupee
The rupee pared initial losses and settled on a higher note at 87.07 against the US dollar on Wednesday, up by 6 paise on the back of a rise in risk appetite in global markets.
FII data
The position of FIIs in the futures market increased from net short of Rs 1.71 lakh crore on Tuesday to Rs 1.73 lakh crore on Wednesday.