GIFT Nifty down 90 points; here's what changed for market while you were sleeping
«Market is witnessing consolidation at higher levels in the absence of any positive trigger. We expect this trend to continue in the near term as a series of macro data around the world and FOMC meeting minutes will be released during the week which could keep markets subdued,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Option data suggests a broader trading range in between 19000 to 19800 zones while an immediate trading range in between 19200 to 19600 zones. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a negative startGIFT Nifty on the NSE IX traded 88.5 points, or 0.45 per cent, lower at 19,385.50, signaling that Dalal Street was headed for negative start on Wednesday.
Tech View: If Nifty falls below the 19250 mark, it might incite a corrective movement towards the 19100-19150 range in the near future. Conversely, resistance can be identified at the 19550 level on the higher side. India VIX: India VIX, which is a measure of the fear in the markets, rose 4.1% to settle at 12 levels.US stocks dipWall Street's main stock indexes closed sharply lower on Tuesday after stronger-than-expected retail sales data stoked worries interest rates could stay higher for longer, while U.S. big banks dropped on a report that Fitch could downgrade some lenders.
S&P 500 dips 1.16%, Nasdaq down 1.14%, Dow falls 1.02%Asian stocks fallAsian stock markets fell following declines across the board in the US as inflation and growth concerns sapped risk sentiment.
S&P 500 futures were little changed as of 10:21 a.m. Tokyo time. The S&P 500 fell 1.2% Nasdaq 100 futures were little changed. The Nasdaq 100 fell 1.2% Japan’s Topix fell 0.9% Read more on economictimes.indiatimes.com
