GIFT Nifty up 20 points; here's what changed for market while you were sleeping
economictimes.indiatimes.com
"Market is moving in a range and we expect this trend to continue given the data-packed week and monthly derivatives expiry. Further, consistent selling by FIIs and poor monsoon in the month of August raised concern among investors, thus keeping the upside limited," 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 positive start
GIFT Nifty on the NSE IX traded 18 points, or 0.09 per cent, higher at 19,529, signaling that Dalal Street was headed for positive start on Wednesday.
- Tech View: The support at the lower end remains solid at 19245, serving as a barrier to prevent further declines. On the upper end, resistance is placed at 19425; a breach of this level might lead to a more dependable rally. Expect a range-bound trading unless a clear breakout occurs on either side.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 1.39% to settle at 12.22 levels.
US stocks up
Wall Street ended sharply higher on Tuesday, lifted by Tesla, Nvidia and other megacap growth stocks after a drop in monthly job openings cemented expectations of a pause in interest rate hikes by the U.S. Federal Reserve.
- S&P 500 up 1.45%
- Nasdaq rises 1.74%
- Dow gains 0.85%
Asian shares gain
Asian stocks rose as China’s largest banks reportedly prepare to cut interest rates and investors speculate that the Federal Reserve is nearing the end of its tightening campaign.
- S&P 500 futures were little changed as of 9:11 a.m. Tokyo time. The S&P 500 rose 1.5%
- Nasdaq 100 futures rose 0.1%. The Nasdaq 100 rose 2.2%
- Japan’s Topix index rose 0.5%
- Australia’s S&P/ASX 200 Index rose 0.6%
- Hong Kong’s Hang Seng
