Benchmark indices showed increased volatility on Wednesday as the first-quarter earnings season continues. After hitting an intraday high of 24,220, the market witnessed profit booking in the second half of the session. A weaker rupee and resilient crude oil prices kept investor sentiment cautious, limiting upside potential. Analysts expect the index to continue its recent consolidation and trade in the 23800-24350 range. As part of the consolidation, last Friday’s gap area and Monday’s low of 24,000-23,950 will act as immediate support.
STATE OF MARKETS
GIFT Nifty (formerly SGX Nifty) signals a positive start
GIFT Nifty rose 62 points or 0.26 percent to 24,104 on NSE IX, signaling Dalal Street is off to a positive start on Thursday.
- Technical view: Short-term support is located at the 23,800-23,900 levels, the confluence of nearly identical EMA lows of the last 4 weeks and 50 days. Although only a break above 24,350 would signal strength and open upside to 24,600 levels, which is the April 2026 high.
- India VIX: India’s VIX index, which gauges fear in markets, fell 3.5% to settle at 13.27.
US stocks rise
Wall Street stocks rose as softer inflation data and a strong start to the second-quarter earnings season sparked buying sentiment among investors.
Asian stocks fall
Asian shares fell as fresh selling in semiconductor shares renewed concerns about the sustainability of the artificial intelligence trade. Oil prices have risen.
Live Events
- S&P 500 futures were up 0.1% as of 9:06 a.m. Tokyo time.
- Hang Seng futures rose 0.7%
- Japan’s Topix fell 0.8%.
- Australia’s S&P/ASX 200 remained virtually unchanged
- Euro Stoxx 50 futures fell 0.3%
Gold is stable
Gold prices remained steady on Thursday as recent US data showed inflation pressures easing ahead of a fresh escalation of war in the Middle East that sent oil prices higher, reviving concerns about rising energy prices and a potential rise in interest rates.
Stocks banned by F&O today
1) Keynes
Prohibited securities in the F&O segment include companies whose securities exceed 95% of the market-wide position limit.
Rupee
On Wednesday, the rupee fell by 16 paise to close at 96.32 (provisional) against the US dollar due to rising tensions in West Asia and rising global crude oil prices.
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