Nifty today: Dalal Street set for negative opening as GIFT Nifty indicates weak start

On Wednesday, Nifty advanced over 1% as markets reacted positively to the sharp correction in crude oil prices following announcements indicating a potential end to the conflict. Analysts say diplomatic signals emerging from the West Asia conflict have turned increasingly constructive, amid reports that US and Iran are close to agreeing on a one-page memorandum aimed at ending the war, thereby improving global risk sentiment. If negotiations sustain momentum, the prolonged consolidation phase in the Nifty could begin transitioning into a more durable market re-rating.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 77 points, or 0.31 per cent, at 24,439, signaling that Dalal Street was headed for a negative start on Thursday.

• Tech View: In the short term, the index may move higher with a potential upside towards 24,285–24,350. On the downside, support is placed at 23,880, below which weakness could intensify.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 7% to settle at 16.68 levels.

US stocks end higher
The S&P 500 and the Nasdaq surged to record high closes on Wednesday, buoyed by signs of a resolution in the Middle East conflict, while strong earnings from Advanced Micro Devices sparked a rally in chipmakers and other AI-related stocks.Asian shares gain
Japanese equities rallied on their return from a break, helping lift Asian shares to yet another record, as optimism grew that the US and Iran were nearing a deal to end the conflict that had rattled markets and clouded the economic outlook.

• S&P 500 futures were little changed as of 9:10 a.m. Tokyo time
• Hang Seng futures rose 1.1%
• Japan’s Topix rose 2.1%
• Australia’s S&P/ASX 200 rose 1%
• Euro Stoxx 50 futures rose 3%

Oil rises
Oil prices rose about $1 in early trade on Thursday, rebounding from the previous day’s sharp losses, as investors weighed the prospects of a Middle East peace deal succeeding.
Gold steady
Gold prices held largely steady near a one-week high on Thursday as investors remained on the sidelines awaiting further details on a potential U.S.-Iran peace deal.
Stocks in F&O ban today

NIL

Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

FII/DII action
Foreign portfolio investors net bought shares worth Rs 5,834 crore on Tuesday. DIIs, meanwhile, were net buyers at Rs 6,836 crore.

Rupee
The Indian rupee posted its best single day gain in a month on Wednesday, joining a global relief rally on rising hopes of a cessation of hostilities between the US and Iran, which sparked sharp gains across Asian currencies.

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