GIFT Nifty up 20 points; here's what changed for market while you were sleeping
«The escalation of US bond yields is expected to limit the influx of foreign investments into the Indian market, further impacting market dynamics,» said Vinod Nair, Head of Research at Geojit Financial Services. «The market has been witnessing pressure on account of weak global cues especially because of the faltering of the Chinese economy and Fitch's warning to downgrade US mid sized banks. We expect this weakness to persist in the market in the near term in the absence of any positive trigger,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Option data suggests a broader trading range in between 19000 to 19700 zones while an immediate trading range was in between 19200 to 19500 zones. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a positive startGIFT Nifty on the NSE IX traded 16.5 points, or 0.09 per cent, higher at 19,299.50, signaling that Dalal Street was headed for positive start on Friday.
Tech View: The prevailing sentiment stays negative as the index continues to stay below the crucial moving average. Looking at the upper range, the sell-on-rise approach might be more effective as long as the level of 19525 remains unbroken. On the downside, levels around 19250 serve as immediate support in case of any decline. India VIX: India VIX, which is a measure of the fear in the markets, rose 0.95% to settle at 12.24 levels.US stocks dipWall Street's main indexes closed lower after choppy trading on Thursday as losses in healthcare stocks eclipsed gains in Cisco and energy stocks, while upbeat economic data kept alive fears of interest rates remaining higher for longer.
Dow dips 0.84%, S&P 500 down 0.77%, Nasdaq falls 1.07% Read more on economictimes.indiatimes.com
