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 higher by 16 points, or 0.06 per cent, at 25,286, signaling that Dalal Street was headed for positive start on Friday.
- Tech View: Nifty has consistently maintained the 25,000 level, and as long as this support holds, a positive bias should be retained. However, a break below 25000 could lead to weakness towards 24850 or lower, Rajesh Bhosale, Equity Technical Analyst, Angel One, said.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 1.16% to settle at 13.79 levels.
US stocks mixed
The Dow notched a record high close on Thursday in mixed trading following robust U.S. economic data, while artificial intelligence chipmaker Nvidia dropped after its largely in-line forecast failed to impress investors.
- S&P 500 flat,
- Nasdaq -0.23%,
- Dow +0.59%
Asian shares rebound
Asian stocks advanced as upbeat US growth data suggested the Federal Reserve is engineering a so-called soft landing for the economy.
- S&P 500 futures were little changed as of 9:09 a.m. Tokyo time
- Hang Seng futures rose 0.1%
- Japan’s Topix rose 0.2%
- Australia’s S&P/ASX 200 rose 0.5%
- Euro Stoxx 50 futures rose 0.9%
Oil steady
Oil prices were steady in early trading on Friday as investors weighed supply concerns in the Middle East against signs of weakened demand.
Dollar rises
The dollar traded near a one-week high versus major peers on Friday, on track to snap a five-week losing run, after robust economic data pared bets for aggressive Federal Reserve interest rate cuts.
Stocks in F&O ban today
NIL
Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit
FII/DII action
Foreign portfolio investors turned net buyers at Rs 3,259 crore on Thursday. DIIs bought shares worth Rs 2690 crore.
Rupee
The rupee gained 8 paise to close at 83.89 against the American currency on Thursday, supported by easing crude oil prices and a firm trend in domestic equities.
FII data
The net long of FIIs increased from Rs 1.34 lakh crore on Wednesday to Rs 2.1 lakh crore on Thursday.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
