Trade Setup: Global Cues, Commodity Trends to Shape Today's Session
GIFT Nifty indicates a flat to slightly positive opening. US markets closed mixed, while Asian markets show mixed trends. Commodities are steady with gold and silver rising. FIIs were net sellers, while DIIs were net buyers. Multiple block deals were reported, primarily involving Goldman Sachs entities. Key stocks to watch include Zomato, Lemon Tree Hotels, and Eternal Ltd. due to recent developments.
*this image is generated using AI for illustrative purposes only.
Market Overview
As traders prepare for the opening bell, global markets are setting a cautiously optimistic tone. Key developments across international markets and commodities are likely to influence sentiment.
GIFT Nifty Update
GIFT Nifty futures were trading at 24,636.00, up 10 points or 0.04% from the previous close, indicating a flat to slightly positive start for the broader index.
US Markets
Overnight, Wall Street ended mixed. The Dow Jones Industrial Average fell 0.55% to 45,316.80, while the tech-heavy Nasdaq Composite gained 0.28% to close at 21,258.50.
Asian Markets
Asian markets are showing mixed trends in early trade. Japan's Nikkei 225 is down 0.19% at 42,228.61, while Hong Kong's Hang Seng Index is marginally up by 0.002% at 25,497.00.
Commodity Trends
Crude oil prices are holding steady, with WTI crude at $65.61 per barrel, up 0.03%. Gold futures have risen 0.45% to $3,608.30 per ounce, while silver futures are up 1.67% at $41.76 per ounce. Copper futures are slightly down by 0.06% at $4.20 per pound.
Currency Updates
The USD/INR pair is trading at 88.04, up 0.09% from the previous close.
FII/DII Activity
Foreign Institutional Investors (FIIs) were net sellers, offloading shares worth ₹1,159.48 crore. Domestic Institutional Investors (DIIs) were net buyers, purchasing shares worth ₹2,549.51 crore.
Block Deals
Several significant block deals were reported:
| Company | Seller | Buyer | Shares (in millions) | Price (₹) |
|---|---|---|---|---|
| Cholamandalam Investment | Goldman Sachs (Singapore) | Goldman Sachs Bank Europe | 0.67 | 1,453.80 |
| Five Star Business Finance | Goldman Sachs (Singapore) | Goldman Sachs Bank Europe | 0.41 | 549.20 |
| Capri Global Capital | Goldman Sachs (Singapore) | Goldman Sachs Bank Europe | 1.88 | 189.00 |
| Godrej Properties | Goldman Sachs (Singapore) | Goldman Sachs Bank Europe | 0.29 | 1,952.20 |
| Varun Beverages | Goldman Sachs (Singapore) | Goldman Sachs Bank Europe | 1.89 | 495.35 |
| Krishna Institute of Medical Sciences | Goldman Sachs (Singapore) | Goldman Sachs Bank Europe | 0.50 | 727.50 |
| Lemon Tree Hotels | Goldman Sachs (Singapore) | Goldman Sachs Bank Europe | 1.55 | 170.20 |
| Eternal | Goldman Sachs (Singapore) | Goldman Sachs Bank Europe | 6.91 | 321.10 |
| Dr. Agarwal's Health Care | Goldman Sachs (Singapore) | Goldman Sachs Bank Europe | 1.65 | 433.25 |
| Vertis Infrastructure Trust | Galaxy Investments II | Various Buyers | 204.80 | 98.01 |
Latest Update for stocks involved in block deals
- KKR and Ontario Teachers' Pension Plan have sold over 25.17 crore units of Vertis Infrastructure Trust for ₹2,468 crore.
- Zomato has increased its platform fee on food delivery orders from ₹10 to ₹12.
- Lemon Tree Hotels has expanded its presence in Rajasthan with three new properties.
- Eternal Ltd. is considering relaxing its commission models for restaurant partners.
- Zomato Ltd. saw a block trade of approximately 508,355 shares at ₹309.65 per share.
Key Global Events
Traders should keep an eye on upcoming corporate actions, including annual general meetings and dividend announcements for several companies listed on the exchanges.
As the markets open, these factors are likely to play a crucial role in shaping the day's trading session.
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