“Markets are closely monitoring global indices for direction, and the recent pause in US markets ahead of the Jackson Hole Symposium is leading to some caution locally also. Technically, there are signs of consolidation in the Nifty after it failed to break the resistance at 24,850 level. Despite this, we maintain a bullish outlook on the markets and recommend focusing on selective stock picking,” said Ajit Mishra – SVP, Research, Religare Broking.
Here’s breaking down the pre-market actions:
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a flat start.Nifty futures on the Gift Nifty traded 28 pts lower at 24,831.Tech View
Now Nifty has to continue to hold above 24700 zones to extend the move towards 25000 and 25100 zones whereas supports are placed at 24700 then 24550 zones, Chandan Taparia of Motilal Oswal said.India VIX
India VIX, which is a measure of the fear in the markets, fell 2.49% to settle at 13 levels.
Global Markets
- S&P 500 futures rose 0.2% as of 9:15 a.m. Tokyo time
- Hang Seng futures fell 1%
- Japan’s Topix rose 0.3%
- Australia’s S&P/ASX 200 fell 0.4%
- Euro Stoxx 50 futures were little changed
Stocks in F&O ban today
1) India Cements
2) Balrampur Chini Mills
3) GNFC
4) Nalco
5) Birla Soft
6) Sun TV
7) Aarti Industries
8) ABFRL
9) PEL
10) LIC Housing Finance
11) Hindustan Copper
12) Granules
13) Chambal Fertilisers
14) RBL Bank
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 turned net buyers at Rs 1,372 crore on Wednesday. DIIs bought shares worth Rs 2972 crore.
Rupee
The rupee traded in a narrow range and settled lower by 3 paise at 83.93 against the American currency on Thursday, as higher dollar demand from importers and recent foreign fund outflows dampened investor sentiments.
FII data
The net long of FIIs increased from Rs 17768 crore on Wednesday to Rs 24,869 crore on Thursday.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
