GIFT Nifty up 45 points; here's what changed for market while you were sleeping
FII selling has also weighed on the sentiments.
«In the near term market is expected to trade in a range as investors await the U.S. Federal Reserve’s annual Jackson Hole gathering and US Fed Chair Jerome Powell's speech later in the week,» 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 44 points, or 0.23 per cent, higher at 19,358.50, signaling that Dalal Street was headed for positive start on Wednesday.
- Tech View: The repeated testing of immediate supports around 19300-19250 levels with lack of strength to sustain the highs could eventually result in a downside breakout of the supports. Further upside from here could find strong resistance around 19450-19500 levels.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 1.78% to settle at 11.75 levels.
US stocks dip
The Dow and S&P 500 ended slightly lower on Tuesday as investors stayed worried the Federal Reserve will keep interest rates higher for longer and as banks shares eased.
- Dow down 0.51%,
- S&P 500 dip 0.28%,
- Nasdaq up 0.06%
Asian shares steady
Asian equities traded in tight ranges as Wall Street’s risk-on mood faded a day after the rally in big tech.
- S&P 500 futures rose 0.1% as of 9:14 a.m. Tokyo time. The S&P 500 fell 0.3%
- Nasdaq 100 futures rose 0.1%. The Nasdaq 100 fell 0.2%
- Japan’s Topix index fell 0.1%
- Australia’s S&P/ASX 200 Index was little changed
- Hong Kong’s Hang Seng futures fell 0.5%
Oil prices dip
Oil prices eased in early trade on Wednesday, weighed down by fears U.S. interest rates could stay higher for longer and economic growth could slow further
