
Gifty Nifty rises 30 points; here's the trading setup for today's session
«Going forward, investors will take cues from US Service PMI and Jolt Jobs data,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
Gift Nifty signals positive start
Nifty futures on the Gift Nifty traded at 21,027 around 7.15 am, up 27.50 points or 0.13%, indicating a positive start for Dalal Street.
- Tech View: Technically, the current pattern of Nifty reflects ongoing sharp upside in the market and buy on intraday dips opportunity, said Nagaraj Shetti of HDFC Securities.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 3.58% to settle at 13.46 levels.
Global markets rise
Asian shares advanced as a further US labor-market slowdown reinforced speculation the Federal Reserve will be able to cut interest rates next year to prevent a recession. Benchmark indexes rose over 1% in Japan, the most in three weeks. Stocks in Australia and South Korea also advanced while futures in Hong Kong pointed to gains.
- Hang Seng futures rose 0.2%
- Nikkei 225 futures (OSE) rose 1.3%
- Japan’s Topix rose 1.1%
- Australia’s S&P/ASX 200 rose 0.8%
Wall Street ends mixed
Wall Street finished mixed on Tuesday after fresh employment data bolstered bets that the U.S. Federal Reserve will cut interest rates as soon as March. Wall Street's most valuable companies rose as Treasury yields dipped to multi-month lows. Nvidia and Apple rose more than 2%, while Amazon.com and Tesla gained more than 1%.
- S&P 500 declined 0.06%
- Nasdaq gained 0.31%
- Dow Jones Industrial Average declined 0.22%
Dollar near 2-week high
The dollar was near a two-week high against a basket of currencies on Wednesday as investors assessed U.S. economic data that