STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 154 points, or 0.65 per cent, at 23,557.50, signaling that Dalal Street was headed for a negative start on Friday.
- Tech View: In the short term, sentiment continues to support a bearish view, with sell-on-rise likely to remain the preferred strategy. The RSI indicator is in a bearish crossover and is declining further, entering a zone of significant weakness.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 2.2% to settle at 21.52 levels.
Asian stocks slip
Asian stocks followed US peers lower in early trading Friday, with oil prices in focus on growing fears that the war in Iran will further crimp energy supplies and boost inflation.
- S&P 500 futures rose 0.3% as of 9:18 a.m. Tokyo time
- Hang Seng futures fell 0.9%
- Japan’s Topix fell 0.5%
- Australia’s S&P/ASX 200 rose 0.2%
- Euro Stoxx 50 futures were little changed
US stocks end lower
U.S. stocks fell on Thursday, as Iranian strikes on two oil tankers sent crude prices surging toward $100 per barrel, further exacerbating inflation fears and sending investors fleeing equity markets.
- Dow down 1.56%,
- S&P 500 dips 1.52%,
- Nasdaq falls 1.78%
Oil dips
Oil prices dropped on Friday morning after the U.S. issued a 30-day license for countries to buy Russian oil and petroleum products currently stranded at sea, easing supply concerns.
Dollar rises
The dollar held gains on Friday and was set for its second weekly gain since the beginning of the war in Iran as turmoil in markets left it the last safe-haven standing.
Stocks in F&O ban today
Samman Capital
SAIL
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 sold shares worth Rs 7,050 crore on Thursday. DIIs, meanwhile, were net buyers at Rs 7,449 crore.
Rupee
The rupee touched a fresh intra-day low on Thursday and closed the session 24 paise down at its lowest level of 92.25 against the US dollar, dragged down by elevated crude oil prices and massive withdrawal of foreign capital.
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