“Overall, we expect the market to recover gradually,” said Siddhartha Khemka, head of retail research at Motilal. “Volatility could be higher due to concerns about election polls and their results.”oswal financial
A breakdown of pre-market actions includes:
Market current situation
GIFT Nifty (formerly SGX Nifty) signals negative start
NSE IX’s GIFT Nifty fell 40 points or 0.18 per cent to trade at 22,608, suggesting Dalal Street is headed for a negative start on Tuesday.
Technical view: Nifty is expected to move towards the upper bound of 22,800 level in the next 1-2 weeks. HDFC Securities Senior Technical His Research Analyst Nagaraj Shetti says the immediate support lies at his 22,200 level. India VIX: India VIX, a measure of market fear, rose 2.6% to settle at 20.52 levels.
US stocks are mixed
The Nasdaq closed at a record high on Monday, but the S&P 500 edged higher as tech stocks rose ahead of Nvidia’s much-anticipated earnings and investors weighed the timing of the Federal Reserve’s interest rate cut. did.
Dow fell 0.49%, S&P rose 0.09%, Nasdaq rose 0.65%.
Asian stocks plummet
Asian stocks took a breather on Tuesday after a seven-day gain and a commodity benchmark hit a 15-month high, as traders turned their focus to earnings from iconic chipmaker Nvidia Corp later in the week.
As of 9:07 a.m. Tokyo time, S&P500 futures are little changed Hang Seng futures are down 0.7% Japan’s TOPIX is up 0.3% Australia’s S&P/ASX200 is little changed Euro Stoxx50 futures are up 0.3%
oil falls
Oil prices fell in the early hours of Asian markets on Tuesday. Investors expect a prolonged period of high U.S. inflation and interest rates to dampen consumer and industrial demand.
dollar is stable
The dollar was firm on Tuesday, and the yen struggled in the low-156 range, but investors generally remained firm on their view on the timing and scope of the Federal Reserve’s expected rate cuts this year, with trading mostly in a range. became.
FII/DII actions
Foreign portfolio investors were net sellers at Rs 92,000 crore on Friday. Meanwhile, DII bought shares worth Rs 153 million.
Rupees
The rupee on Friday gained 13 paise to close at 83.37 rupees against the US dollar on positive sentiment in the domestic stock market and fresh inflows from abroad.
FII data
FIIs’ net shortfall decreased to Rs 2.46 billion on Saturday from Rs 2.48 billion on Friday.
4th quarter results
BHEL, NMDC, PI Industries, Hitachi Energy, Ircon and others will announce their fourth quarter results on Tuesday.
