The GIFT Nifty showed a muted opening, trading 60 points down at 23,319.50. Participants are advised to opt for stock selection and strong risk management strategies in the current volatile environment.
US markets close lower; Asian stocks slide
Wall Street ended Thursday on a subdued note as corporate earnings and economic data showed a cautious approach to a rate cut by the Federal Reserve. The Dow Jones Industrial Average was down 0.16 percent, the S&P 500 was down 0.21 percent, and the Nasdaq was down 0.89 percent.
Asian markets followed a downtrend in early trade. Japan’s Topix fell 0.6 percent, while Australia’s S&P/ASX 200 was flat. Traders are now looking ahead to Chinese economic data, including fourth-quarter GDP growth figures, due later today.
India VIX rises; The list of F&O bans is growing
India VIX, a measure of fear in the market, rose 1.36 percent to 15.46, indicating increased panic. In the F&O category, stocks like Angel One, RBL Bank, Hindustan Copper, and Bandhan Bank are among the nine securities on the ban list for exceeding the 95 percent market position limit.
Activity of FII and DII
Foreign portfolio investors (FPIs) turned sellers, pulling out equities worth Rs 4,341 crore on Thursday. In contrast, domestic institutional investors (DIIs) were net buyers, buying shares worth Rs 2,928 crore. The short position of FIIs increased from Rs 2.94 lakh crore on Wednesday to Rs 2.97 lakh crore on Thursday.
Gold shines, rupee weakens
Gold prices rose for the third week in a row, boosted by hopes of a rate cut by the Federal Reserve. Meanwhile, the rupee closed 16 paise lower at 86.56 against the US dollar, influenced by rising crude oil prices and FII outflows.
With corporate earnings from Reliance, Infosys, and Axis Bank expected to dominate early trade, market participants should remain vigilant and watch key levels for new signals.
