Indian benchmark indices witnessed profit booking during the second half of the session amid escalating geopolitical tensions, prompting investors to reduce overnight risk exposure. Volatility remained elevated throughout the day, with sharp intraday swings driven by the weekly Sensex expiry. Analysts say Nifty continues to consolidate in the broad range of 23,000-23,550 and they expect the current consolidation to extend until a directional breakout emerges.STATE OF THE MARKETSGift Nifty (Earlier SGX Nifty) signals a positive startNifty futures on the Gift Nifty traded nearly 200 pts higher at 23,397.Tech View: Buying interest is consistently emerging near the 23,000–23,100 support zone, limiting further downside. Given the current setup, a level-based trading approach is advisable, with consolidation likely between 23,000–23,100 support and 23,350–23,500 resistance in the near term.India VIX: India VIX, which is a measure of the fear in the markets, fell 0.1% to settle at 15.61 levels.Global Markets S&P 500 futures rose 0.2% as of 9:04 a.m. Tokyo timeHang Seng futures rose 0.9%Japan’s Topix rose 1.4%Australia’s S&P/ASX 200 rose 1.5%Euro Stoxx 50 futures rose 0.5%Forex News The euro was little changed at $1.1570The Japanese yen fell 0.2% to 160.19 per dollarThe offshore yuan was little changed at 6.7667 per dollarThe Australian dollar was little changed at $0.7044Oil fallsOil prices slumped to two-month lows on the news of an agreement. U.S. West Texas Intermediate (WTI) crude futures fell 1.9% to $86.08 a barrel, on top of a 2.6% drop overnight. Brent dropped 1.5% at $89.08 per barrel, having fallen nearly 3% overnight.Oil prices xxxxxxStocks in F&O ban today1) 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.FII/DII actionForeign portfolio investors net sold shares worth Rs 1,987 crore on Thursday. DIIs, meanwhile, were net buyers at Rs 4,224 crore.RupeeThe rupee plunged 60 paise to settle at 95.85 against the US dollar on Thursday amid heightened tensions in West Asia and a stronger greenback. Heavy foreign capital outflows and weak sentiments at the domestic equity markets put further pressure on the local unit, according to forex traders.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Gift Nifty rises nearly 200 pts, signals positive start; key trading cues for today
Indian markets experienced profit-taking in the latter half of the session due to rising geopolitical tensions, leading investors to reduce risk. Volatility was high with significant intraday swings. Analysts suggest Nifty is consolidating between 23,000 and 23,550, anticipating this trend to continue until a clear breakout. Global markets showed mixed but generally positive movements.
TL;DRAI
Nifty up 200 points (23,397) as geopolitical tensions spur profit-taking; expects consolidation at 23,000–23,550 range. Rising volatility (VIX 15.61) indicates market caution, potentially delaying corporate IT investments and venture funding cycles.
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