GIFT Nifty down 25 points; here's what changed for market while you were sleeping
«We expect the market to remain sideways on the back of mixed cues from global as well as domestic markets,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded 22.5 points, or 0.12 per cent, lower at 19,406.50, signaling that Dalal Street was headed for muted start on Friday.
- Tech View: The overall sentiment remains pessimistic, with the likelihood of any upward rallies being met with selling activity. On the downside, the initial support level is placed at 19,200. If the index falls below the 19,200 level, it could potentially move towards the 19,000 mark.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 2.22% to settle at 12.06 levels.
US stocks mixed
The S&P 500 ended lower and the Nasdaq higher on Thursday after U.S. inflation data matched estimates, underscoring expectations the Federal Reserve could pause its monetary tightening, while Salesforce climbed following an up upbeat forecast.
- S&P 500 down 0.16%,
- Nasdaq up 0.11%
- Dow dips 0.48%
Oil rises
Oil prices were set to snap a two-week losing streak as they rose for a fourth consecutive session on Friday due to tightening supplies and expectations of the OPEC+ group of oil producers extending output cuts to the end of the year.
Asian shares mixed
Stocks in Asia were mixed after a muted session on Wall Street as traders await Friday’s jobs reading to gauge the outlook for Federal Reserve policy.
FII/DII action
Foreign portfolio investors were net sellers at Rs 2,973 crore on Thursday, while DIIs bought shares worth Rs 4,382 crore.
Rupee
The rupee depreciated by 16
