Domestic equities ended lower, with the Nifty declining 0.8% as broad-based selling persisted across sectors, while India VIX surged 5.6%, reflecting heightened market volatility. Analysts say Indian equities are expected to trade sideways with a marginal negative bias in the near term amid continued geopolitical tensions in West Asia, Brent crude prices rising to near their five-week high of around $95 per bbl and continued Foreign Institutional Investor selling. Stock-specific action is likely to dominate as the earnings season progresses.
Read more: Stocks in news: Infosys, IndusInd Bank, Eternal, Adani Green, Dr Reddy's
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 56.50 points, or 0.24 per cent, at 23,905, signaling that Dalal Street was headed for a negative start on Thursday.
- Tech View: The RSI is in a bearish crossover, pointing towards weak momentum in the near to short term. On the lower end, the fall might extend towards 23700/23600 if the Nifty falls below 23900. On the higher end, near-term resistance is seen at 24,100.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 5% to settle at 13.29 levels.
US Stocks close lower
The S&P 500 and the Nasdaq closed lower on Wednesday with a mixed performance from technology stocks, as investors waited for key earnings reports to gauge the health of a market rally fed by enthusiasm for artificial intelligence.
Asian shares rise
Asian shares advanced as regional chipmakers gained on expectations they will benefit from the billions spent on the artificial intelligence buildout. Oil extended its rally.
- S&P 500 futures were little changed as of 9:17 a.m. Tokyo time
- Hang Seng futures rose 0.3%
- Japan’s Topix rose 0.4%
- Australia’s S&P/ASX 200 rose 0.9%
- Euro Stoxx 50 futures rose 0.6%
Oil prices rise
Oil prices rose more than 1.5% to their highest in more than six weeks on Thursday, with the United States launching a new round of strikes on Iran and Yemen's Houthis targeting oil tankers in the Red Sea.
Dollar stabalises
The dollar largely stabilised on Thursday as renewed U.S.-Iran tensions kept investors on edge and underpinned demand for the safe-haven currency, while the yen languished near a 40-year low with little sign of a turnaround.
Stocks in F&O ban today
1) Kaynes
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 sold shares worth Rs 819 crore on Wednesday. DIIs, meanwhile, were net sellers at Rs 418 crore.
Rupee
The Indian rupee fell to a two-month low on Wednesday as oil prices climbed on mounting fears of supply disruptions through key Middle East shipping routes, although dollar sales by state-run banks limited the local currency's losses.
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