GIFT Nifty rises 20 pts; markets likely to open flat amid upbeat domestic cues

Dalal Street looks set for a steady start on Tuesday as GIFT Nifty climbed 20 points, indicating a mildly positive opening. The index, which reflects early sentiment on Indian equities, was seen trading at 24,167.50, up 0.07 per cent, with the broader trend still riding on upbeat Q4 earnings and sustained foreign fund inflows.

Nifty may head towards 24,500, say experts

Analysts tracking Nifty's technical setup remain bullish, with the index closing above its key resistance of 24,100 in the previous session. As long as it holds above critical moving averages, it could march towards the 24,450–24,500 range. On the downside, immediate support is pegged at 23,850. The India VIX dropped nearly 2.5 per cent to 15.47, signaling low volatility and continued bullish sentiment.

Global markets wobble on Fed worries, Trump’s remarks

Overnight, Wall Street tumbled, with the Dow Jones falling 3.19 per cent, S&P 500 losing 3.27 per cent, and the Nasdaq shedding 3.48 per cent. The sharp decline came after fresh criticism from former President Donald Trump towards Fed Chair Jerome Powell, raising investor fears about the central bank's independence.

Asian markets opened mixed on Tuesday. While Japan’s Topix rose 0.2 per cent, Australia’s ASX 200 dropped 0.9 per cent. Meanwhile, S&P 500 futures edged up 0.4 per cent, hinting at a possible rebound.

Gold, oil climb; rupee extends winning streak

Safe-haven demand pushed gold prices to fresh highs, while crude oil recovered slightly in early trade. The rupee gained for the fifth day, settling 25 paise higher at 85.13 against the US dollar, aided by a weaker dollar index and strong equities.

FII action: Net shorts reduce by Rs 6,000 crore

Foreign institutional investors (FIIs) continued to reduce their net short positions, which fell from Rs 83,273 crore to Rs 77,270 crore, signaling strengthening sentiment. FPIs were net buyers at Rs 1,970 crore, while domestic investors bought shares worth Rs 246 crore.

F&O ban list: 5 stocks under restriction

The NSE has placed the following stocks under the F&O ban for today: Angel One, Hindustan Copper, Manappuram Finance, Tata Elxsi, and IREDA, as these counters exceeded 95 per cent of the market-wide position limit.