



GIFT Nifty up 5 points; here's the trading setup for today's session
«Markets are likely to remain under pressure amid a sharp surge seen in U.S. 10-year treasury yields to 16-year highs of 4.5%. Also mounting concerns over China’s real estate sector, and FIIs offloading in domestic equities dampened the sentiment,” 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 muted start
GIFT Nifty on the NSE IX traded higher by 4.5 points, or 0.02 per cent, at 19,737, signaling that Dalal Street was headed for muted start on Wednesday.
- Tech View: For day traders, 19735 would be the immediate resistance level while 19620 could act as a key support zone. Above 18735, the index could move up till 19780-19800. On the other hand, below 19620 the market could slip till 19550-19520.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 2.61% to settle at 11.18 levels.
US stocks dip
Wall Street's main indexes ended down over 1% on Tuesday as 10-year Treasury yields held their multi-year highs, with investors still wrestling with prospects for a long period of high interest rates and the economic fallout.
- Dow down 1.19%,
- S&P 500 falls 1.4%,
- Nasdaq slips 1.48%
Asian stocks slip
Asian stocks slumped following Wall Street lower as investors contemplate a protracted period of higher interest rates. The dollar held onto gains from its recent rally.
- S&P 500 futures rose 0.1% as of 9:33 a.m. Tokyo time. The S&P 500 fell 1.5% Tuesday
- Nasdaq 100 futures rose 0.1%. The Nasdaq 100 fell 1.5%
- Japan’s Topix fell 0.8%
- Australia’s S&P/ASX 200 fell 0.3%
- Euro Stoxx 50 futures fell 0.2%
Oil prices edge higher Oil prices ticked up in early trade on