Nifty today: GIFT Nifty up 25 points; here’s the trading setup for today’s session


Equity investors remained on the side-lines ahead of the RBI policy outcome on Thursday. In today’s trade, markets will look for any cues from the RBI governor Shaktikanta Das on hints at any rate cuts.

“The key event this week is RBI’s monetary policy which provides direction to the market. Though RBI is expected to maintain the status quo, commentary would be eagerly eyed with regards to hints on rate cut,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal.

Here’s breaking down the pre-market actions:

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 25 points, or 0.11 per cent, at 22,047, signaling that Dalal Street was headed for positive start on Thursday.

  • Tech View: The short-term trend of Nifty continues to be positive. There is a higher possibility of an upside breakout of 21950-22000 mark in the short term. Immediate support is at 21750, said Nagaraj Shetti of HDFC Securities.
  • India VIX: India VIX, which is a measure of the fear in the markets, fell 1.77% to settle at 15.50 levels.

US stocks gain
Wall Street’s major stock indexes rose on Wednesday, with the benchmark S&P 500 registering a record closing high, as investors applauded overall strength in U.S. earnings and monitored Federal Reserve comments for clues on interest rates.

  • Dow up 0.46%,
  • S&P rises 0.82%,
  • Nasdaq gains 0.91%

Asian shares up
Asian stocks opened tentatively higher Thursday after the S&P 500 closed at a fresh record within striking distance of 5,000.

  • S&P 500 futures were little changed as of 9:38 a.m. Tokyo time
  • Hang Seng futures fell 0.4%
  • Nikkei 225 futures (OSE) rose 0.7%
  • Japan’s Topix was little changed
  • Australia’s S&P/ASX 200 rose 0.4%
  • Euro Stoxx 50 futures rose 0.3%

Stocks in F&O ban today

1) Hindustan Copper

2) India Cements

3) Indus Tower

4) Nalco

5) ZEE

6) Ashok Leyland

7) UPL

8) Balrampur Chini Mills

9) Delta Corp

10) 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 turn net sellers at Rs 1,691 crore on Wednesday. DIIs, meanwhile, bought shares worth Rs 327 crore.

Rupee
The rupee appreciated 9 paise to close at 82.96 against the US dollar on Wednesday, tracking a correction in the greenback against major currencies overseas.

FII data
The net short of FIIs increased from Rs 60,275 crore on Tuesday to Rs 80,351 crore on Wednesday.

Q3 results
Zomato, Grasim, LIC and a slew of other companies will announce their third quarter results today.

RBI monetary policy
Shaktikanta Das will announce the bi-monthly policy on Thursday amid expectations of continued pause on the key interest rate as inflation remains near the upper tolerance level of 6%.

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