Trade Setup for Today: Global Cues Mixed as GIFT Nifty Edges Higher
By ScanX News Team
GIFT Nifty up 0.11%, indicating a potentially positive opening. US markets closed strong with Dow Jones up 1.00%. Asian markets mixed: Nikkei 225 up 1.69%, Hang Seng down 0.56%. Crude oil dips 0.64%, gold rises 0.16%. USD/INR at 85.42, down 0.02%. FIIs net buyers, DIIs net sellers in recent activity.
*this image is generated using AI for illustrative purposes only.
Introduction
As markets prepare to open, global cues present a mixed picture. While US markets closed on a positive note, Asian indices are showing varied trends. Commodity markets, particularly crude oil and gold, are witnessing notable movements that could influence today's trading session.
GIFT Nifty Update
The GIFT Nifty is trading at 25,764.50, up 0.11% or 29 points from the previous close. This suggests a potentially positive start for the domestic indices.
US Markets
US markets ended their previous session on a strong note:
| Index | Change (%) |
|---|---|
| Dow Jones | 1.00 |
| NASDAQ | 0.44 |
| S&P 500 E-Mini Futures | 0.33 |
The Dow Jones Industrial Average surged by 1.00%, while the NASDAQ Composite and S&P 500 E-Mini futures also posted gains, indicating positive sentiment in the US markets.
Asian Markets
Asian markets are showing mixed trends:
| Index | Change (%) |
|---|---|
| Nikkei 225 | 1.69 |
| Hang Seng | -0.56 |
Japan's Nikkei 225 is up 1.69%, while Hong Kong's Hang Seng is down 0.56%, reflecting varied investor sentiment across the region.
Commodity Trends
Key commodities are showing significant movements:
| Commodity | Price | Change (%) |
|---|---|---|
| Crude Oil | 65.10 | -0.64 |
| Gold | 3,292.80 | 0.16 |
| Silver | 36.23 | -0.40 |
| Natural Gas | 3.66 | -2.17 |
Crude oil prices have dipped slightly, while gold shows a marginal increase. Natural gas has seen a more significant decline.
Currency Updates
The USD/INR pair is trading at 85.42, showing a slight decrease of 0.02%.
FII/DII Activity
Recent institutional activity shows:
- Foreign Institutional Investors (FIIs) were net buyers, purchasing ₹1,397.02 crore worth of shares.
- Domestic Institutional Investors (DIIs) were net sellers, offloading ₹588.93 crore worth of shares.
Key Global Events
No significant global events or corporate actions have been reported for today that could impact market sentiment.
Conclusion
As the markets open, traders should keep an eye on global cues, particularly the positive trends in US markets and the mixed performance in Asian indices. The slight uptick in GIFT Nifty suggests a potentially positive start for domestic markets. However, fluctuations in commodity prices and currency markets may influence sector-specific movements throughout the trading session.
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