Trade Setup: GIFT Nifty Flat, Global Cues Mixed Ahead of Opening Bell on July 30
By ScanX News Team
GIFT Nifty futures down 0.02%, indicating a flat to slightly negative start. US markets closed mixed, with NASDAQ showing resilience. Asian indices display mixed trends. Commodities stable with slight upticks in precious metals. USD/INR at 87.06, down 0.02%. FIIs were net sellers, while DIIs were net buyers. Key earnings reports and AGMs to watch for stock-specific movements.
*this image is generated using AI for illustrative purposes only.
Market Overview
As traders prepare for the opening bell on July 30, global markets are presenting a mixed picture, with some key indices showing resilience while others face downward pressure. Domestic cues remain largely neutral, setting the stage for a potentially range-bound session.
GIFT Nifty Update
The GIFT Nifty futures are trading at 24,815.00, down marginally by 0.02% or 5.50 points from the previous close. This suggests a flat to slightly negative start for the broader market.
US Markets
Overnight, Wall Street ended on a mixed note:
| Index | Value | Change |
|---|---|---|
| Dow Jones Industrial Average | 44,654.00 | -0.46% |
| NASDAQ Composite | 21,415.75 | 0.18% |
| S&P 500 E-Mini futures | 6,412.75 | 0.11% |
The tech-heavy NASDAQ showed resilience, while the Dow faced some selling pressure.
Asian Markets
Asian indices are displaying a mixed trend in early trade:
| Index | Value | Change |
|---|---|---|
| Nikkei 225 | 40,661.23 | -0.03% |
| Hang Seng | 25,395.89 | -0.50% |
The Japanese market is holding relatively steady, while Hong Kong is experiencing some downward movement.
Commodity Trends
| Commodity | Price | Change |
|---|---|---|
| Crude Oil (WTI) | 69.21 | 0.00% |
| Brent Crude | Data not available | |
| Natural Gas | 3.15 | 2.80% |
| Gold | 3,329.60 | 0.17% |
| Silver | 38.32 | 0.09% |
Oil prices remain stable, while gold and silver are seeing slight upticks.
Currency Updates
The USD/INR pair is trading at 87.06, down 0.02%, indicating a marginal strengthening of the rupee against the dollar.
FII/DII Activity
- Foreign Institutional Investors (FIIs) were net sellers on July 29, offloading ₹4,636.60 crore worth of shares.
- Domestic Institutional Investors (DIIs) were net buyers, purchasing ₹6,146.82 crore worth of shares.
This divergence in institutional activity could influence market sentiment.
Key Events to Watch
Several companies are slated to announce their quarterly results today, including:
- Indigo
- PNB
- Tata Steel
- Power Grid Corporation
- IGL
Additionally, multiple firms are holding their Annual General Meetings (AGMs), which may lead to stock-specific movements.
Conclusion
The market appears poised for a cautious start with mixed global cues and a flat GIFT Nifty. Traders should keep an eye on key earnings reports and global developments for intraday direction.
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