“The overall market sentiments remain buoyant on the back of continued FIIs buying and strong macro data. Going ahead, the positive momentum is likely to continue largely driven by liquidity and vibrant mood ahead of Christmas and new year.,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal.
Here’s breaking down the pre-market actions:
STATE OF THE MARKETS
- Tech View: On the upper side, Nifty is likely to encounter resistance from call writers at 21500. A definitive breakthrough above 21500 could potentially initiate a substantial market rally; until then, consolidation appears probable, said Rupak De of LKP Securities.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 0.23% to settle at 13.87 levels.
US stocks up
Wall Street extended its rally on Tuesday, advancing on the day as last week’s dovish policy pivot from the Federal Reserve continued to reverberate and investors looked ahead to crucial inflation data.
- Dow up 0.68%,
- S&P rises 0.59%,
- Nasdaq gains 0.66%
Asian stocks gain
Stocks in Asia are poised to jump after Wall Street extended its rally on Tuesday, with traders shrugging off warnings from policymakers trying to rein in expectations for Federal Reserve rate cuts.
- S&P 500 futures were little changed as of 8:20 a.m. Tokyo time. The S&P 500 rose 0.6%
- Nasdaq 100 futures were little changed. The Nasdaq 100 rose 0.5%
- Nikkei 225 futures rose 0.6%
- Hang Seng futures rose 1%
- Australia’s S&P/ASX 200 rose 0.6%
Stocks in F&O ban today
1) Delta Corp
2) SAIL
3) PEL
4) RBL Bank
5) Manappuram
6) Balrampur Chini Mills
7) ZEE
8) Indus Tower
9) IRCTC
10) Nalco
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 were net sellers at Rs 601 crore on Tuesday. DIIs bought shares worth Rs 294 crore.
Rupee
The rupee declined by 9 paise to settle at 83.19 (provisional) against the US dollar on Tuesday due to dollar buying by importers amid lingering worries over oil supplies through the Red Sea route.
F&O data
The net long position of FIIs reduced from Rs 51,405 crore on Monday to Rs 65,408 crore on Tuesday.
