Indian equities are expected to trade in a broader range in the near term, as elevated Brent crude prices and a weakening rupee continue to create a fragile environment for domestic markets and remain among the key concerns for investors. Analysts say Sustained FII outflows are likely to cap directional upside, even as the final leg of the Q4FY26 earnings season and selective policy tailwinds provide stock- and sector-specific support.
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 131 points, or 0.56 per cent, at 23,535, signaling that Dalal Street was headed for a positive start on Thursday.
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Tech View: The daily RSI continues to remain in a bearish crossover, suggesting that the negative momentum is still intact. On the upside, the 23,500 zone continues to act as a strong resistance level. In the near term, the index may remain under pressure, while immediate support is placed around 23,150–23,200.
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India VIX: India VIX, which is a measure of the fear in the markets, rose 0.8% to settle at 19.42 levels.
US stocks end higher
The S&P 500 and the Nasdaq gained ground on Wednesday with a boost from artificial intelligence-related tech shares, which helped markets look past hotter-than-expected inflation data and the growing probability that the Federal Reserve will hold to its restrictive monetary policy for the foreseeable future.
Asian stocks gain
Asian stocks advanced after a surge in US tech shares pushed Wall Street to a record, masking worries about inflation that have driven bets the Federal Reserve will raise interest rates next year.
- S&P 500 futures rose 0.2% as of 9:14 a.m. Tokyo time
- Hang Seng futures rose 1.9%
- Japan’s Topix fell 0.1%
- Australia’s S&P/ASX 200 fell 0.1%
- Euro Stoxx 50 futures rose 0.7%
Oil rises
Oil prices edged up on Thursday as investors awaited a meeting between U.S. President Donald Trump and Chinese President Xi Jinping later in the day as traders focused on the Iran war.
Gold up
Gold prices ticked up on Thursday, buoyed by a weaker dollar, as investors focused on talks between U.S. President Donald Trump and Chinese President Xi Jinping.
Dollar jumps
The dollar got a lift from elevated U.S. Treasury yields on Thursday as investors wagered the Federal Reserve would hike rates this year, while an impasse between the U.S. and Iran over the war in the Middle East drove more safe-haven flows.
Stocks in F&O ban today
SAIL
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.
FII/DII action
Foreign portfolio investors net bought shares worth Rs 4,703 crore on Wednesday. DIIs, meanwhile, were net buyers at Rs 5,869 crore.
Rupee
The Indian rupee weakened to an all-time low on Wednesday at 95.74, extending its losing streak, as overseas debt repayments and importer hedging demand outweighed the limited support from higher duties on precious metal imports.
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