Positioning in the options of Nifty 50 indicates a trading range of 18400-18800 levels.
Here’s breaking down the pre-market actions:
STATE OF THE MARKETS
SGX Nifty signals a negative start
Nifty futures on the Singapore Exchange traded 84 points, or 0.45 per cent, lower at 18,410.50, signaling that Dalal Street was headed for a negative start on Wednesday.
- Tech View: Nifty 50 at a record closing high on Tuesday has turned the short-term trend positive, but some cautious trading is likely as the index moves further up. The index has to hold above 18350 points for a sustained upmove.
- India VIX: Strength in the market pulled down the ‘fear gauge’ on Tuesday, as risk-on sentiment improved. The index ended 1.8% down at 14.6350 points.
Wall Street gains
Wall Street’s main indexes gained on Tuesday, shaking off an unconfirmed report of Russian missiles crossing into Poland that sparked volatility, as investors seized on softer-than-expected inflation data that raised hopes of a pullback in rate hikes by the U.S. Federal Reserve.
- Dow up 0.17%
- S&P rises 0.87%
- Nasdaq gains 1.45%
Asian stocks signal caution
Asian equities braced for a cautious open Wednesday as investors balanced encouraging data that supported a slowdown in Federal Reserve rate hikes with Poland saying a Russian-made missile hit its territory.
- Futures on the S&P 500 fell 0.2% as of 8:20 a.m. Tokyo time. The S&P added 0.9%
- Nasdaq 100 futures fell 0.2%. The Nasdaq 100 rose 1.5%
- Hang Seng futures fell 0.3%
- Nikkei 225 futures fell 0.1%
- Australia’s S&P/ASX 200 Index fell 0.3%
After being net buyers in the last few sessions, foreign portfolio investors (FPIs) turned sellers on Tuesday. They net sold shares worth Rs 221.3 crore, provisional data showed. DIIs were also net sellers of shares, with they offloading stocks to the tune of Rs 549.3 crore.
Stocks in F&O ban today
Bharat Heavy Electricals,
, Fertilizers, , and . 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.
Rupee: The Indian unit rose against the dollar on Tuesday amid weakness in the dollar index. The rupee settled at 81.0950 a dollar, against 81.2600 in the previous session.
- Bikaji Foods International to debut on the exchanges on Wednesday. Trends in the grey market indicate moderate listing gains for the stock.
- Global Health to list on the exchanges on Wednesday. Some listing gains likely for investors.
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