Trade Setup: Global Cues Point to a Soft Start Amid Mixed Signals
By ScanX News Team
GIFT Nifty futures down 1.29% at 24,676.00, indicating a soft start. US markets mixed with NASDAQ tumbling 1.81%. Asian markets showing mixed trends. Crude oil surges 8.95% to $74.13. USD/INR at 85.53, up 0.13%. FIIs net sellers (-₹3,831.42 Cr), DIIs net buyers (₹9,393.85 Cr). Energy, metals, and currency-sensitive stocks in focus.
*this image is generated using AI for illustrative purposes only.
Introduction
Global markets are exhibiting mixed signals as we approach the opening bell. A combination of international developments and domestic factors are likely to influence sentiment in today's trading session.
GIFT Nifty Update
The GIFT Nifty futures trading at 24,676.00 points, down 1.29% or 321.50 points from the previous close, suggests a soft start for the broader market.
US Markets
Overnight, Wall Street witnessed a significant pullback. The Dow Jones Industrial Average managed a slight gain of 0.24%, closing at 42,988.61. However, the tech-heavy NASDAQ Composite tumbled 1.81% to 19,498.00, while the S&P 500 futures (E-Mini) dropped 1.59% to 5,953.25.
Asian Markets
Asian markets are showing a mixed trend. Japan's Nikkei 225 is down 1.04% at 37,774.21, while Hong Kong's Hang Seng Index has slipped 0.81% to 23,840.47.
Commodity Trends
| Commodity | Price (USD) | Change (%) |
|---|---|---|
| Crude Oil | 74.13 | +8.95 |
| Natural Gas | 3.59 | +2.81 |
| Gold | 3,452.00 | +1.46 |
| Silver | 36.68 | +1.05 |
| Copper | 4.20 | -0.06 |
Crude oil prices have surged significantly, which could impact energy and related sectors. Gold and silver are also showing strength, potentially benefiting precious metal stocks.
Currency Updates
The USD/INR pair is trading at 85.53, up 0.13% from the previous close. This slight depreciation of the rupee against the dollar may influence import-export oriented companies.
FII/DII Activity
| Investor Type | Buy (₹ Cr) | Sell (₹ Cr) | Net (₹ Cr) |
|---|---|---|---|
| FII/FPI | 11,656.73 | 15,488.15 | -3,831.42 |
| DII | 21,386.26 | 11,992.41 | 9,393.85 |
Foreign Institutional Investors (FIIs) were net sellers in the previous session, while Domestic Institutional Investors (DIIs) provided strong support with significant net buying.
Key Global Events
The market will be closely watching for any developments in global economic policies and geopolitical situations that could impact trading sentiment.
Conclusion
As the market prepares to open, traders should be cautious of the mixed global cues and keep an eye on sectoral movements, especially in energy, metals, and currency-sensitive stocks. The strong DII support might provide some cushion against potential FII selling pressure.
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