GIFT Nifty up 35 points; here's the trading setup for today's session
US Fed outcome. Markets would react to the Fed's interest rate decision and economic data to be released during the day.
«The comments from Chair Jerome Powell will take the spotlight as it will provide insights into Fed’s next move. Also, investors would watch out for BOE’s interest rate decision to be announced on Thursday,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.
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 lower by 33.5 points, or 0.17 per cent, at 19,218.50, signaling that Dalal Street was headed for positive start on Thursday.
- Tech View: The short-term trend of Nifty continues to be weak. The Nifty is expected to slide down to the lower support of 18850 levels (200 day EMA) once again before showing another round of upside bounce from the lows. Any intra-week up move from here could encounter resistance around 19100 levels, said Nagaraj Shetti of HDFC Securities.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 1.88% to settle at 12.05 levels.
US stocks gain
Wall Street's major indexes closed higher on Wednesday with the Nasdaq's 1.6% advance leading gains, after the U.S. Federal Reserve kept interest rates unchanged.
- Dow up 0.67%,
- S&P rises 1.05%,
- Nasdaq gains 1.64%
Asian shares up
Shares in Asia jumped tracking gains in US stocks and bonds after the Federal Reserve signaled its policy tightening cycle may be over.
- S&P 500 futures rose 0.2% as of 9:03 a.m. Tokyo time. The S&P 500 rose 1.1%
- Nasdaq 100 futures rose 0.3%. The Nasdaq 100 rose 1.8%
- Hang Seng futures rose 0.4%
- Japan’s Topix rose 1%
- Australia’s S&P/ASX 200 rose 1.2%
Oil rises
Oil
