GIFT Nifty futures gain 30 points; markets likely to open on a positive note
GIFT Nifty up 33.50 points signals a positive opening for Indian markets; analysts urge caution as volatility remains high with mixed earnings, FII outflows, and global cues shaping sentiment.
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Indian equity markets are poised for a positive opening on Wednesday, as indicated by GIFT Nifty (formerly SGX Nifty), which traded higher by 33.50 points or 0.15 per cent at 23,150.50. However, analysts caution traders to remain vigilant amidst mixed global cues and volatile sentiment.
Wall Street rally boosts sentiment
US markets rallied on Tuesday, with the Dow Jones gaining 1.24 per cent, the S&P 500 rising 0.88 per cent, and the Nasdaq advancing 0.64 per cent. Investor confidence grew as President Donald Trump's initial actions eased fears of aggressive tariff policies, while speculation about pro-business policies provided additional optimism.
Asian markets trade higher
Asian shares mirrored Wall Street’s positive momentum, with speculation over policy support boosting confidence. Key indices like the MSCI World Index climbed 0.8 per cent, while the Russell 2000 Index surged 1.8 per cent.
India VIX signals caution
The India VIX, a measure of market volatility, rose by 3.9 per cent to settle at 17.06, reflecting increased caution among traders.
Stocks under F&O ban
Ten stocks are under the F&O ban today, including Angel One, RBL Bank, Manappuram, LT Finance, Bandhan Bank, Canfin Homes, ABFRL, Kalyan Jewellers, Dixon, and MGL. These securities have exceeded 95 per cent of their market-wide position limits.
FII/DII activity
Foreign institutional investors (FIIs) were net sellers on Tuesday, offloading Rs 5,920 crore worth of equities. Domestic institutional investors (DIIs), however, offered some support by buying shares worth Rs 3,500 crore.
Rupee under pressure
The Indian rupee ended lower by 13 paise at 86.58 against the US dollar, weighed by domestic equity sell-off and a stronger greenback.
Outlook for today
Market participants should brace for volatility and closely track quarterly earnings, global trends, and FII activity. Cautious trading with a focus on risk management is advisable.
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08:19 AM IST