Nifty today: GIFT Nifty down 40 points; here’s the trading setup for today’s session

Indian equity markets ended marginally lower on Monday, recovering from early losses to close near the day’s high amid a weak global risk environment. Analysts say markets are expected to trade in a consolidation mode in the near term, with heightened volatility in the broader markets as year end approaches amid thin volumes and an uncertain global macro backdrop.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 45 points, or 0.17 per cent, at 26,045, signaling that Dalal Street was headed for a negative start on Tuesday.

• Tech View: Immediate support is placed around 25,900, followed by the 50-DMA near 25,770. On the upside, a decisive move above 26,100 could pave the way for further gains toward 26,250. Overall, the broader trend remains positive, with a buy on dips approach intact as long as the index holds above 25,700, said Nilesh Jain, Head – Technical and Derivatives Research Analyst.
• India VIX: India VIX, which is a measure of the fear in the markets, rose 1.4% to settle at 10.25 levels.

US stocks dip
Wall Street closed lower on Monday as investors braced for a slew of economic data later this week while assessing reports on Federal Reserve candidates and commentary from policymakers for clues on the interest rate outlook.

• Dow down 0.09%,
• S&P dips 0.16%,
• Nasdaq falls 0.59%

Asian stocks down
Asian equities posted a modest decline at the open as investors reined in risk in the run-up to the release of key US economic data that may signal where interest rates are headed. The yen strengthened.

• S&P 500 futures fell 0.1% as of 9:25 a.m. Tokyo time
• Hang Seng futures fell 0.3%
• Japan’s Topix fell 0.8%

Oil falls
Oil prices fell in early trading on Tuesday, adding to the previous session’s losses, as prospects for a Russia-Ukraine peace deal appeared to strengthen, raising expectations of a potential easing of sanctions.

Gold gains
Gold prices edged higher on Tuesday, supported by expectations of a U.S. interest rate cut in January, as investors awaited key jobs data due later in the day, while silver hovered near record highs hit last week.

Dollar slips
The U.S. dollar sagged to near a two-month low at the start of the Asian trading session on Tuesday as markets awaited the release of a slew of economic data, including the delayed November U.S. jobs report.

Stocks in F&O ban today

Bandhan 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 net sold shares worth Rs 1,468 crore on Monday. DIIs, meanwhile, were net buyers at Rs 1,792 crore.

Rupee
The rupee on Monday crashed to its lowest-ever level of 90.80 before settling at a new all-time low of 90.78 against the US dollar, registering a loss of 29 paise over its previous close, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.

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