Trade Setup: GIFT Nifty Signals Positive Start Amid Mixed Global Cues
GIFT Nifty up 0.03% at 25189.00, hinting at a slightly positive start. US markets closed mixed, with NASDAQ up 0.06% and Dow down 0.04%. Asian markets show varied trends. Crude oil down 0.92%, gold steady. USD/INR at 86.20. FIIs net sellers, DIIs net buyers. Key earnings and AGMs scheduled.
*this image is generated using AI for illustrative purposes only.
Market Overview
As traders prepare for the opening bell, global markets present a mixed picture, setting the stage for an interesting session ahead.
GIFT Nifty Update
The GIFT Nifty futures traded at 25189.00, up 7.00 points or 0.03% from the previous close, indicating a slightly positive start for the domestic indices.
US Markets
Overnight, Wall Street saw a muted session. The Dow Jones Industrial Average closed marginally lower by 0.04% at 44344.06, while the tech-heavy NASDAQ Composite edged up 0.06% to 21280.25.
Asian Markets
Asian markets displayed mixed trends in early trade. Japan's Nikkei 225 rose 0.14% to 39876.04, while Hong Kong's Hang Seng Index slipped 0.22% to 24937.98.
Commodity Trends
In the commodities market, crude oil prices retreated, with WTI crude trading at $65.34 per barrel, down 0.92%. Gold futures held steady at $3403.00 per ounce, showing a marginal decline of 0.10%. Silver futures also saw a slight dip, trading at $39.12 per ounce, down 0.56%.
Currency Updates
The USD/INR pair was trading at 86.20, showing a slight uptick of 0.02%.
FII/DII Activity
Foreign Institutional Investors (FIIs) were net sellers, offloading shares worth ₹1681.23 crore. In contrast, Domestic Institutional Investors (DIIs) were net buyers, purchasing shares valued at ₹3578.43 crore.
Key Corporate Actions
Several companies are slated to announce their quarterly results today, including:
- Zensar Technologies
- VST Industries
- United Breweries
- Paytm
Additionally, companies like Colgate Palmolive and IDBI Bank will be holding their Annual General Meetings.
Conclusion
As the market opens, traders will be closely watching these global cues and corporate actions. The slightly positive GIFT Nifty indication, coupled with mixed global trends, sets the stage for an intriguing trading session ahead.
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