“We expect the market to consolidate in a higher zone ahead of key events. Rate-sensitive sectors are expected to be in focus along with equity-specific action,” said Siddhartha Khemka, head of research, wealth management, Motilal Oswal.
The following are the actions required prior to commercialization:
STATE OF THE MARKETS
Ingenious gift (Formerly SGX Nifty) signals a positive start.Nifty futures on the Gift Nifty traded 110 points higher at 25,087.
Technical view
The recent low of 24,753 is expected to offer near-term support to the Nifty. On the higher side, 25,200 becomes a strong resistance in the Nifty and unless it is overcome, traders should remain cautious, said Devarsh Vakil of HDFC Securities.India VIX Index
The India VIX, a measure of fear in the markets, rose 2% to 13.63.
Global markets
- S&P 500 futures were little changed as of 9:06 a.m. Tokyo time.
- Japan’s Topix index rose 2.3%
- Australia’s S&P/ASX 200 index rose 0.2%
- Euro Stoxx 50 futures up 0.2%
Forex News
- The euro remained virtually unchanged at $1.1010.
- The Japanese yen fell 0.3 percent to 142.79 per dollar.
- The offshore yuan was unchanged at 7.1282 per dollar.
Stable oil
Oil prices held steady on Thursday, with concerns about weaker demand offsetting gains from the previous session, which were boosted by the effects of Hurricane Francine on output in the United States, the world’s top crude producer.
Brent crude futures for November were up 24 cents, or 0.34%, at $70.86 a barrel, while U.S. October crude futures were up 20 cents, or 0.30%, at $67.52 by 0044 GMT.
Stocks in F&O are prohibited today
1) Balrampur Chini Mills
3) ABFRL
4) RBL Bank
6) Bandhan Bank
7) Biocon
Securities in the F&O segment blackout period include companies in which the value has exceeded 95% of the market-wide position limit.
FII/DII Action
On Wednesday, foreign portfolio investors turned net buyers worth Rs 1,755 crore. Foreign portfolio investors sold shares worth Rs 231 crore.
Rupee
The rupee remained range-bound and closed 1 paisa lower at 83.99 against the US dollar on Wednesday as support from lower crude oil prices and weak US dollar was negated by a weak trend in domestic equities.
BE the date
FIIs’ net long positions declined from Rs 1.57 lakh crore on Tuesday to Rs 1.51 lakh crore on Wednesday.
(Disclaimer: The recommendations, suggestions, views and opinions of the experts are their own and do not represent the views of Economic Times)
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.