From The Economic Times · Akash Podishetti · · 1m 30s
GIFT Nifty trades higher as Dalal Street poised for positive start
GIFT Nifty rises 0.59% signaling positive market opening for Monday.
In brief
GIFT Nifty rises 0.59% signaling positive market opening for Monday. GIFT Nifty trades higher by 133.5 points at 22,624.5, indicating Dalal Street will open positively on Monday. Originally reported by The Economic Times.
GIFT Nifty signals positive start
GIFT Nifty on the NSE IX traded higher by 133.5 points, or 0.59 per cent, at 22,624.5, signaling that Dalal Street was headed for a positive start on Monday.
“GIFT Nifty on the NSE IX traded higher by 133.5 points, or 0.59 per cent, at 22,624.5, signaling that Dalal Street was headed for a positive start on Monday”
Nifty technical analysis
Technically, Nifty continues to remain in a weak corrective structure, trading well below the 50-Week EMA around 24,146, but the 200-Week EMA at 22,380.81 provided important cushion.
Foreign portfolio investors activity
Foreign portfolio investors net sold shares worth rs 9,484 crore on Thursday while DIIs were net buyers at rs 10,041 crore.
Rupee weakens
The Indian rupee dropped to its weakest level in two months as global bond yields surged to decadal highs and oil prices jumped.
Global market reactions
Asian stocks rose after softer US jobs data reduced pressure on the Federal Reserve to keep raising interest rates while oil prices slipped.
Nifty weekly decline
The Nifty extended its losing run to an eighth straight week with a 3.1% weekly decline.
India VIX rises
India VIX, which is a measure of the fear in the markets, rose 0.5% to settle at 13.49 levels.
F&O ban list
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.
What it means
GIFT Nifty trades higher by 133.5 points at 22,624.5, indicating Dalal Street will open positively on Monday.
