GIFT Nifty up 10 points; here's what changed for market while you were sleeping
«Overall, we expect global uncertainty to keep the market range bound. However, action could continue in banking and financial Services ahead of the RBI policy meeting minutes release and bank loan growth data,» 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 muted start
GIFT Nifty on the NSE IX traded 7.5 points, or 0.04 per cent, higher at 19,512, signaling that Dalal Street was headed for muted start on Thursday.
- Tech View: Nifty took support near 19350 and recouped lost ground thereafter. However, it failed to breach the key resistance level of 19500. Currently, the index is witnessing a positive consolidation. For day traders, 19400 would act as a trend decider level and above which, the index could rally till 19535. On the flip side, below 19400 the index could retest the level of 19350-19315.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 0.17% to settle at 11.73 levels.
US stocks gain
US stocks ended sharply higher on Wednesday as shares of Nvidia gained ahead of quarterly results from the company whose chips are widely used for artificial intelligence (AI) computing.
- Dow up 0.5%,
- S&P 500 rises 1.1%,
- Nasdaq gains 1.6%
Asian share up
Shares in Asia rose after US stocks rallied and Treasury yields retreated following lackluster economic reports that support the case for the Federal Reserve to pause interest rate hikes.
- S&P 500 futures rose 0.5% as of 9:31 a.m. Tokyo time. The S&P 500 rose 1.1%
- Nasdaq 100 futures rose 0.9%. The Nasdaq 100 rose 1.6%
- Nikkei 225 futures (OSE) rose 0.6%
- Japan’s Topix rose 0.2%
- Australia’s S&P/ASX 200 rose 0.4%
Oil prices fallOi
