Indian markets will likely begin Friday’s session on a positive footing guided by marginal gains in GIFT Nifty futures and easing of global risk aversion after Thursday’s volatile session in which benchmarks corrected on the back of weak US cues and rupee depreciation.
GIFT Nifty futures quoting on NSE IX platform were quoting at 24,690.50, up 35.5 points or 0.14 percent indicating a mildly positive open for Indian equities. However, analysts expect Nifty will remain under pressure unless it broke above 24,800. Immediate support is at 24,445 the 21-day EMA.
FIIs Return to Net Buyers
After turning net sellers for the last two weeks, foreign institutional investors (FIIs) were net buyers on Thursday, having pumped in Rs 5,045 crore into Indian equities. Domestic institutional investors (DIIs) were also buyers, net buying Rs 3,715 crore.
Technical outlook
The short-term trend remains weak as long as Nifty remains below the 24,800 level. Analysts caution that any further upside might attract selling pressure and a breach of 24,445 could lead to sharper downside.
India VIX
India VIX, the volatility gauge, moved lower by 1.65 percent to 17.26, giving a bit of relief for traders. Lower readings of VIX suggest lesser fear and discomfort in the market but may indicate complacency before important global events.
Global Market
Wall Street closed the session largely flat overnight as US Treasury yields eased. Dow and S&P 500 ended flat at the close of the session whilst Nasdaq was higher by 0.28 percent. Asia seemed to follow Wall Street with Japan’s Topix gaining 0.5 percent and Australia’s ASX 200 gaining 0.2 percent. However, Euro Stoxx 50 futures were lower by 0.6 percent which suggests lingering caution in Europe.
The rupee saw more pressure today
The Indian rupee settled at 85.95 per dollar on Thursday, down 36 paise, impacted by high crude oil prices and demand for dollars from importers.
Stock’s on the F&O ban list
Four stocks – RBL Bank, Manappuram, Dixon, and Titagarh Wagons – will be part of the F&O ban today after crossing 95 per cent of the market-wide position limit.
Traders are advised to be stock specific and maintain strict stop losses due to ongoing uncertainty around the globe.
Anurag Dhole is a seasoned journalist and content writer with a passion for delivering timely, accurate, and engaging stories. With over 8 years of experience in digital media, she covers a wide range of topics—from breaking news and politics to business insights and cultural trends. Jane's writing style blends clarity with depth, aiming to inform and inspire readers in a fast-paced media landscape. When she’s not chasing stories, she’s likely reading investigative features or exploring local cafés for her next writing spot.
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
