GIFT Nifty signals a gap-down start on rising Ind-Pak tension

Indian equities ended lower on Thursday in a volatile session triggered by rising tensions between India and Pakistan. Looking ahead, market volatility is expected to persist as investors track further developments on the India-Pakistan front and US trade announcements.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a gap-down start
GIFT Nifty on the NSE IX traded lower by 219.50 points, or 0.91 per cent, at 23,972, signaling that Dalal Street was headed for gap-down start on Friday.

• Tech View: The near-term sentiment now appears weak, with the potential for further correction in the short term. Immediate support is seen at 23,950; a break below this level could lead the index down towards 23,450. On the upside, resistance is placed at 24,400 and 24,550.
• India VIX: India VIX, which is a measure of the fear in the markets, rose 10.2% to settle at 21.01 levels.

US stocks rise
US stocks rose on Thursday as investors cheered a new trade agreement hammered out between the United States and Britain, while U.S. President Donald Trump signaled upcoming talks with China would be more substantial than initially thought.

• Dow up 0.62%,
• S&P 500 gains 0.58%,
• Nasdaq rises 1.07%

Asian shares gain
Asian stocks inched higher on Friday after US President Donald Trump announced a trade deal with the UK and signaled tariffs on Chinese goods may fall if upcoming talks go well.

• S&P 500 futures fell 0.2% as of 9:22 a.m. Tokyo time
• Japan’s Topix rose 1.1%
• Australia’s S&P/ASX 200 was little changed
• Euro Stoxx 50 futures rose 1.2%

Gold firm
Gold prices firmed on Friday, as investors bought bullion following a decline in the previous session, while markets looked ahead to U.S.-China trade talks due this weekend.

Dollar up
The dollar headed for a weekly gain on most major peers on Friday as a U.S.-UK trade deal raised hopes of progress in looming U.S.-China talks, while bets of imminent U.S. rate cuts receded after the Federal Reserve indicated it was in no hurry.

Stocks in F&O ban today

1) RBL Bank

2) CDSL

3) Manappuram

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 2,008 crore on Thursday. DIIs, meanwhile, were net sellers at Rs 596 crore.

Rupee
Rupee saw its steepest single-day fall in more than two-and-a-half years and settled 81 paise lower at 85.58 against the US dollar on Thursday, weighed down by heightened geopolitical tensions between India and Pakistan.