GIFT Nifty 40 points less The equities markets on Tuesday began the day slowly but gradually picked up steam to close the day higher. Analysts say that domestic equities are consolidating inside a range, showing strength at lower levels with purchases made at each dip.
“We expect range trading and favourable bias in the market overall. Siddhartha Khemka, Head of Retail Research at Motilal Oswal, said that consumer confidence statistics from the US and Europe will be of interest to investors worldwide.
“We continue to believe that, unless the Nifty decisively breaks over 21,900 levels, we should adhere to our “buy on dips” strategy. However, the SVP of Technical Research at Religare Broking advises traders to proceed with extra caution when selecting stocks with mixed participation and to avoid high beta counters.
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State OF The Market
GIFT Nifty Live The previous SGX Nifty is down 40 points, which suggests a good start.
The GIFT Nifty on the NSE IX opened on Wednesday at 22,236.50, up 43.50 points, or 0.20 percent, suggesting that Dalal Street was off to a strong start.
- Tech View: The market is not strengthening enough to see a clear upside breakthrough of the 22200–22300 levels. According to HDFC Securities’ Nagaraj Shetti, any declines to 22000–21950 could present a buy-on-dip chance. The immediate resistance is located at 22300.India
- India is the VIX: The VIX, a gauge of market anxiety, increased by 0.82% to close at 15.73 points.
US Stocks were Mixed
Tuesday’s finish of U.S. equities was almost unchanged ahead of inflation and other economic statistics that may provide insight into when the Federal Reserve may decide to lower interest rates.
S&P 500 up 0.17%,
Nasdaq up 0.37%, and the Dow down 0.25%
Asian stocks muted
Asian stocks traded within tight ranges on Wednesday after the S&P 500 nudged higher. In New Zealand, the central bank is seen holding interest rates while retaining the threat of a hike amid sticky inflation.
- S&P 500 futures were little changed as of 9:50 a.m. Tokyo time
- Hang Seng futures rose 0.2%
- Nikkei 225 futures (OSE) fell 0.2%
- Japan’s Topix was little changed
- Australia’s S&P/ASX 200 fell 0.2%
Dollar firm
The U.S. dollar held steady as traders brushed off durable goods data overnight and awaited the Federal Reserve’s preferred measure of inflation due Thursday for clues on when the U.S. central bank may start cutting interest rates.
Stocks in F&O Ban Today
1) ABFRL
2) Indus Tower
3) Canara Bank
4) SAIL
5) ZEE
Securities in the ban period under the F&O segment include companies in which the s ..
FII/DII action
Foreign portfolio investors were net sellers at Rs 1,509 crore on Tuesday. DIIs bought shares worth Rs 2,861 crore.
Rupee
The rupee slipped by 1 paisa to close at 82.89 against the US dollar in a restricted trade on Tuesday amid withdrawal of foreign funds and increased month-end demand for the American currency
FII data
The net short of FIIs reduced from Rs 29,137 crore on Monday to Rs 27,042 crore on Tuesd ..
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