GIFT Nifty rises 100 points; here's the trading setup for today's session
markets reacted sharply on Monday to the NDA falling short of expectations in the Lok Sabha elections, which triggered a loss nearly 6% to both Sensex Nifty
«The markets are pricing the risk associated with this scenario, and the potential impact of a shift toward socialist policies by the government, thus leading to a sell-off,» said Yashovardhan Khemka, Senior Manager, Research & Analytics at Abans Holdings.
Here's breaking down the pre-market actions:
State of the markets
Gift Nifty (Earlier SGX Nifty) signals a positive start
Nifty futures on the Gift Nifty traded 103 pts or 0.47% higher, at 22,050.
Tech View
We are of the view that the current market texture is extremely volatile and uncertain; hence, it is advisable that traders should remain cautious for next few trading sessions,” Shrikant Chouhan, Head of Equity Research, Kotak Securities said.
India VIX: India VIX, which is a measure of the fear in the markets, fell 27.75% to settle at 26.75 levels.
Adian Markets
- Hang Seng futures rose 0.2%
- Japan’s Topix fell 0.9%
- Australia’s S&P/ASX 200 was little changed
- Euro Stoxx 50 futures fell 1%
US equities
U.S. stocks closed slightly up on Tuesday after the release of labor market data, which was weaker than anticipated. This data reinforced the belief that the Federal Reserve might implement an interest rate reduction. Tuesday's figures revealed a decline in U.S. job openings to their lowest point in over three years in April. This indicates a loosening in labor market conditions, which aligns with
