Domestic markets traded positively on Thursday, with the Nifty 50 advancing nearly 1% from the day's low, supported by lower energy prices, appreciation in the rupee and favourable global cues. Analysts say Indian equities are expected to trade with a positive bias, with the Nifty sustaining above the 24,000 level, supported by firm geopolitical cues, soft crude oil prices, and strengthening rupee.STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a muted startGIFT Nifty on the NSE IX traded higher by 2 points, or 0.01 per cent, at 24,098.50, signaling that Dalal Street was headed for a muted start on Monday.Tech View: The Nifty remained volatile during the session amid the BSE F&O expiry on Thursday, as the index failed to break out above the falling trendline on the daily timeframe. However, the overall trend continues to remain positive, with the index sustaining above the short-term moving average (50EMA).India VIX: India VIX, which is a measure of the fear in the markets, fell 2.05% to settle at 13.05 levels.Asian shares fall, US futures upUS equity-index futures climbed after reports the US and Iran backed away from a fresh escalation of their conflict, easing concerns over the fragile ceasefire underpinning peace talks. Asian shares slipped 0.2% in early trading. South Korea’s Kospi Index, the world’s best-performing major stocks gauge this year, fell 1.6% with investors focused on Monday’s planned unveiling of a sweeping growth strategy.S&P 500 futures rose 0.4% as of 9:02 a.m. Tokyo timeHang Seng futures rose 1%Japan’s Topix rose 0.3%Australia’s S&P/ASX 200 rose 0.3%Euro Stoxx 50 futures fell 0.7%Oil climbsOil prices rose on Monday following days of tit-for-tat strikes by the United States and Iran in the Middle East that underscored the fragility of their interim peace deal and again slowed energy shipping in the Strait of Hormuz.Gold slipsGold prices slipped on Monday as renewed U.S.-Iran hostilities pushed oil prices higher, while expectations of U.S. Federal Reserve interest rate hikes further weighed on the metal.Stocks in F&O ban today1) NILSecurities 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 384 crore on Thursday. DIIs, meanwhile, were net buyers at Rs 5,748 crore.RupeeThe Indian rupee closed modestly stronger at 94.39 on Thursday and for the week as falling oil prices improved sentiment alongside signs of a pickup in foreign portfolio inflows, while caution lingered over the prospect of US rate hikes.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Markets poised for a cautious start as GIFT Nifty trades flat
Indian markets ended Thursday on a high note, with the Nifty 50 climbing nearly 1% from its lowest point. This positive momentum was fueled by declining energy prices, a stronger rupee, and favorable global trends. Analysts anticipate a continued positive outlook for Indian equities, with the Nifty expected to hold above the 24,000 mark, bolstered by stable geopolitical conditions and robust foreign investment.
TL;DRAI
Nifty 50 climbed nearly 1% above 24,000 Thursday on soft crude and rupee strength amid geopolitical easing; foreign investors were net sellers. Contained energy costs and stable INR ease IT outsourcing pressure and capex constraints for India-reliant tech buyers.
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