“Overall we expect Indian markets to remain volatile on the back of concerns over higher interest rates, ongoing Israel-Hamas war and mixed Q2 results,” 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 negative start
GIFT Nifty on the NSE IX traded lower by 42 points, or 0.22 per cent, at 19134.50, signaling that Dalal Street was headed for negative start on Thursday.
- Tech View: The short-term trend of Nifty continues to be negative. Having placed the long-term support at the lows, there is a possibility of small upside bounce from near 19100-19000 levels. A breakdown of 19000 is likely to open the next downside of 18600 levels in the near term.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 3.74% to settle at 11.31 levels.
US stocks dip
US stocks tumbled in a broad sell-off on Wednesday as Alphabet shares slid after the Google parent posted disappointing earnings and as U.S. Treasury yields rose, reviving fears that interest rates could stay higher for longer.
- Dow dips 0.32%,
- S&P down 1.43%,
- Nasdaq falls 2.43%
Asian shares down
Asian shares slipped after US shares slumped on a batch of poor corporate earnings. Currency traders were on edge after the yen fell to a new low for the year.
- S&P 500 futures fell 0.5% as of 9:47 a.m. Tokyo time. The S&P 500 index fell 1.4%
- Nasdaq 100 futures fell 0.9%. The Nasdaq 100 index fell 2.5%
- Hang Seng futures rose 0.2%
- Japan’s Topix fell 1%
- Australia’s S&P/ASX 200 fell 0.8%
- Euro Stoxx 50 futures fell 0.9%
Oil prices steady
Oil prices were little changed on Thursday as the market weighed mixed drivers, eyeing tensions in the Middle East while digesting a rise in U.S. crude stockpiles.
Stocks in F&O ban today
1) RBL Bank
2) Delta Corp
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 were net sellers at Rs 4,236 crore on Wednesday. DIIs bought shares worth Rs 3,569 crore.
Rupee
The rupee paired all its early gains to settle 1 paisa lower at 83.17 against the US dollar on Wednesday, tracking negative cues from domestic equity markets and a strong greenback overseas
F&O data
The net short position of FIIs increased from Rs 90,512 crore on Monday to Rs 92,320 crore on Wednesday.
Q2 results
Asian Paints, Vodafone Idea, PNB and a slew of other companies will announce their second quarter results today.
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