Trade Setup: GIFT Nifty Signals Positive Start; Polycab Sees Major Block Deal
GIFT Nifty up 0.12% at 24,958.50, signaling a positive opening. US markets closed higher, with Dow Jones up 0.38%. Asian markets mixed, with Nikkei slightly down and Hang Seng falling 0.75%. Crude oil prices rise, while gold and silver futures dip. FIIs were net sellers of ₹4,995.42 crore, while DIIs net bought ₹5,103.01 crore. Notable block deals in Polycab India and GRM Overseas, with several companies holding AGMs today.
*this image is generated using AI for illustrative purposes only.
Market Sentiment
Global cues suggest a positive start for the domestic markets as investors digest the latest developments. The GIFT Nifty indicates an upbeat opening, while mixed trends in Asian markets and overnight gains on Wall Street provide a supportive backdrop.
GIFT Nifty Update
The GIFT Nifty is trading at 24,958.50, up 31 points or 0.12% from the previous close, signaling a positive start for the NSE Nifty.
US Markets
Wall Street closed higher overnight, with the Dow Jones Industrial Average gaining 0.38% to 45,968.33. The tech-heavy Nasdaq Composite rose 0.12% to 22,527.75, while the S&P 500 futures edged up marginally.
Asian Markets
Asian markets are showing mixed trends:
| Index | Change (%) | Value |
|---|---|---|
| Nikkei 225 | -0.07 | 45,721.38 |
| Hang Seng | -0.75 | 26,286.88 |
Commodity Trends
| Commodity | Price (USD) | Change (%) |
|---|---|---|
| WTI Crude | 65.29 | +0.48 |
| Brent Crude | 65.29 | - |
| Gold Futures | 3,768.10 | -0.08 |
| Silver Futures | 45.07 | -0.11 |
FII/DII Activity
| Investor Type | Action | Value (₹ Crore) |
|---|---|---|
| FIIs | Net Sellers | 4,995.42 |
| DIIs | Net Buyers | 5,103.01 |
Block Deals
Polycab India
- 22.73 lakh shares (1.51% equity) changed hands
- Price: ₹7,458 per share
- Total value: ₹1,695 crore
- Sellers: Promoter group members
GRM Overseas
- Block deals reported
- Promoters selling shares
Key Corporate Actions
Several companies are holding their Annual General Meetings (AGMs) today, including:
- Glenmark Pharmaceuticals
- RBL Bank
- Anupam Rasayan
Conclusion
The market is poised for a positive start, buoyed by global cues and the GIFT Nifty trends. Investors will be closely watching the block deals in Polycab and GRM Overseas, as well as the outcomes of the numerous AGMs scheduled for today.
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