The increasing influence of weak global signals complicated the market recovery and led to continued selling pressure on Thursday. “Rising US bond yields are expected to limit the inflow of foreign investment into the Indian market, which will further impact market dynamics”; said Vinod Nair, director of research at Geojit Financial Services.
“The prevailing market strain resulted from subdued international indicators, encompassing the downturn of the Chinese financial landscape and Fitch’s cautionary stance towards lowering ratings of medium-sized American financial institutions. Envisioning a continued spell of market fragility in the upcoming horizon, unless an upswing gains traction, Siddhartha Khemka, overseeing retail analysis at Motilal Oswal Financial Services, expressed.”
options data suggests a broader trading range in the 19000 –19700 areas. while the immediate trade area was in the areas from 19200 to 1950.
Here is a breakdown of premarket activity:
MARKET CONDITION
GIFT Nifty (formerly SGX Nifty) reports a positive start. GIFT Nifty NSE IX is trading 16.5 points or 0.09% higher at 19,299.50, signaling that Dalal Street is on course for a positive start on Friday.
Tech View:
Sentiment remains negative as the index continues to trade below its main moving average. Looking at the range above, the selling approach might be more effective as long as the 19525 level remains intact. Conversely, levels around 19250 act as immediate support on the downside.
India VIX:
The India VIX, which is a measure of fear in the markets, rose 0.95% to 12.24.
US stock indexes plummet
Major Wall Street indices closed lower after Thursday’s volatility as losses in healthcare stocks masked gains at Cisco and energy companies, while positive economic data stoked fears interest rates would remain higher for longer.
- Dow Jones down 0.84%
- S&P 500 down 0.77%
- Nasdaq down 1.07%
Asian stocks down
Asian stocks face a sixth daily decline on Friday on concerns around China and rising interest rates.
- S&P 500 futures are slightly changed since 9:19 am Tokyo time. S&P 500 down 0.8%
- Nasdaq 100 futures are down 0.8%.1 %. Nasdaq 100 -1.1%
- Hang Seng-Futures -0.6% • Topix Giaponese-0.7%
- Australian S&P/ASX 200 -0.2%
- Euro Stoxx 50 futures have experienced a 1.3% decline.
Oil prices fall
Crude oil prices are likely to break Friday’s seven-week rebound on China demand concerns. US forward rates caused losses due to economic slowdown and possible increase
F&O Ban on Stock
1) Indiabulls Housing Finance
2) Delta Corp
3) GNFC
4) PNB
5) Chambal Fertilizers & Chemicals
6) India Cements
7) Granules
8) ZEEL
9) Hindustan Copper
10) SAIL
Stocks during the F&O embargo period include companies whose coverage exceeded 95% of the total position limit market.
Stock FII/DII
Foreign portfolio investors became net sellers on Thursday, trading at 1,510 crore. DII also sold shares valued at 314 crore rupees.
Indian rupees fell to a record low of 83.14 against the dollar as rising US yields and surrounding risk aversion weighed on the local currency.