Trade Setup: Global Cues Mixed as Markets Eye Key Corporate Actions
GIFT Nifty indicates a flat to slightly positive start at 25,466.50. US markets closed positively, while Asian markets show mixed trends. Crude oil softened to $63.16/barrel, and USD/INR trades at 88.19. FIIs and DIIs were net buyers. Significant block deals were recorded in GE Vernova T&D, ITC, Wipro, and Axis Bank. Several companies go ex-dividend today, including Stove Kraft and Vinati Organics.
*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 while domestic indices gear up for a flurry of corporate actions.
GIFT Nifty Update
The GIFT Nifty is trading at 25,466.50, up 0.03% or 7.50 points from the previous close, indicating a flat to slightly positive start for the domestic indices.
US Markets
Wall Street ended on a positive note, with the Dow Jones Industrial Average gaining 0.27% to close at 46,163.43. The tech-heavy Nasdaq Composite edged up 0.03% to 22,637.50.
Asian Markets
Asian markets are showing mixed trends. The Nikkei 225 is up 0.72% at 45,628.23, while the Hang Seng Index is trading marginally higher by 0.02% at 26,550.00.
Commodity Trends
Crude oil prices have softened, with WTI crude trading at $63.16 per barrel, down 0.16%. Gold futures are slightly lower at $3,677.60 per ounce, a decrease of 0.02%. Silver futures are up 0.14% at $42.18 per ounce.
Currency Updates
The USD/INR pair is trading at 88.19, up 0.02% from the previous close.
FII/DII Activity
Foreign Institutional Investors (FIIs) were net buyers, purchasing shares worth ₹366.69 crore. Domestic Institutional Investors (DIIs) also remained bullish, with net buying of ₹3,326.56 crore.
Block Deals
Several significant block deals were recorded:
| Company | Buyer | Seller | Shares | Price (₹) |
|---|---|---|---|---|
| GE Vernova T&D | BNP PARIBAS FINANCIAL MARKETS | MARSHALLWACEINVESTMENTSTRATEGIESMARKETNEUTRALTOPSFUND | 76,468 | 2,992.70 |
| ITC | GOLDMAN SACHS BANK EUROPE SE - ODI | GOLDMAN SACHS (SINGAPORE) PTE - ODI | 645,111 | 409.30 |
| Wipro | GOLDMAN SACHS BANK EUROPE SE - ODI | GOLDMAN SACHS (SINGAPORE) PTE - ODI | 1,400,000 | 254.15 |
| Axis Bank | GOLDMAN SACHS BANK EUROPE SE - ODI | GOLDMAN SACHS (SINGAPORE) PTE - ODI | 417,821 | 1,126.00 |
Latest Updates for Stocks Involved in Block Deals
- Sai Life Sciences opened Unit VI, a dedicated facility for veterinary API production in Bidar, India.
- Authum Investment & Infrastructure Limited signed an agreement to acquire a 3% stake in Serovia Pharma Private Limited.
- Wipro expanded its partnership with CrowdStrike to launch Wipro CyberShield MDR, an AI-powered unified managed security service.
- ITC and PepsiCo are competing to acquire a 10% stake in Balaji Wafers.
Key Corporate Actions
Today's session will see a host of companies going ex-dividend, including Stove Kraft, Balu Forge Industries, and Vinati Organics. Several firms are also holding their Annual General Meetings, such as Tega Industries, Nova Agritech, and Firstcry.
As the market opens, traders will be closely watching these corporate actions and global cues for directional moves.
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