Indian equities witnessed mild recovery on Tuesday with the Nifty gaining 0.4%. Analysts say the index is expected to trade in a broader range in the near term amid ongoing global macro uncertainty and sustained Foreign Institutional Investor outflows. Broader markets may continue to witness stock-specific movement, while investor focus is likely to remain on the RBI monetary policy outcome, keeping rate-sensitive sectors active. IT stocks are also expected to remain in focus following buying interest driven by positive commentary from global AI companies and strength in global technology shares.STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a negative startGIFT Nifty on the NSE IX traded lower by 31 points, or 0.13 per cent, at 23,461.50, signaling that Dalal Street was headed for a negative start on Wednesday.Tech View: On the downside, immediate support is placed at 23,420. A breach below this level could trigger another decline towards 23,200. On the upside, resistance is positioned around 23,600.India VIX: India VIX, which is a measure of the fear in the markets, fell 7.2% to settle at 15.36 levels.Asian shares gainAsian stocks tracked Wall Street higher as renewed enthusiasm for the artificial-intelligence trade drove the S&P 500 to a ninth day of gains. The yen traded close to the 160-per-dollar level.S&P 500 futures were little changed as of 9:09 a.m. Tokyo timeHang Seng futures fell 0.4%Japan’s Topix rose 0.7%Australia’s S&P/ASX 200 rose 0.4%Euro Stoxx 50 futures rose 1.4%US stocks end higherThe S&P 500 and the Dow closed modestly higher on Tuesday as risk appetite driven by AI fervor was counterbalanced by tensions arising from U.S.-Iran talks to reopen the Strait of Hormuz and end the months-long war.Gold easesGold prices slipped on Wednesday, as renewed hostilities in the Middle East pushed crude oil prices higher, cementing fears that interest rates would stay higher for longer to tame inflation.Stocks in F&O ban today1) Amber Enterprises2) KaynesSecurities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.RupeeThe rupee depreciated 17 paise to close at 95.36 against the US dollar on Tuesday, as global crude oil prices jumped and the American currency remained firm amid massive safe-haven inflows.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)