2 weeks ago
GIFT Nifty Slips; Nifty, Sensex, Bank Nifty Outlook
This story is about the stock market in India, where people buy and sell small pieces of companies.
The article shares hints about what might happen in the markets on Thursday and Friday.
A special number called GIFT Nifty moved down a little, which suggests the market might start slowly.
Stock markets in other countries, like the US and Asia, mostly went up after new numbers about prices in the US came out the way people expected.
When numbers match expectations, people feel calmer about the economy.
Oil prices stayed high because there is tension in the Middle East and some ships carrying oil have been attacked.
High oil prices can make people worried, so investors are being careful.
Experts think the Indian market will stay in a certain range, bouncing between a floor and a ceiling.
They say it is a good time to choose good companies carefully instead of making big risky moves.
GIFT Nifty futures slipped 49 points (0.16%) to 24,424.50 ahead of Thursday and 27 points (0.11%) to 24,441 ahead of Friday, hinting at muted starts for domestic markets.
US stocks ended mostly higher, with the S&P 500 up 0.26% to 7,748.50 on Wednesday and up 0.65% to a record close of 7,798.99 on Thursday, as inflation data reinforced bets the US Federal Reserve will hold rates steady in September.
Asian markets rose after the US inflation data, with KOSPI soaring more than 4.2% and Nikkei jumping 1.6% on Thursday, while Hang Seng edged lower.
FPIs were net sellers of Indian stocks (Rs 1,002.50 crore on Wednesday and Rs 510.69 crore on Thursday), while DIIs remained net buyers (Rs 5,841.66 crore and Rs 4,353.09 crore respectively).
Crude prices stayed elevated — US crude at $82.58 and Brent at $88.35, later steady at $87.03 — on Middle East tensions and shipping attacks; analysts see Sensex range-bound with support at 77,250-77,500 and resistance at 78,200-78,400, and Bank Nifty consolidating between 56,500 and 58,700.
- Who
- Indian market analysts from Religare Broking, Choice Equity Broking, LKP Securities, SAMCO Securities, SBI Securities, HDFC Securities, Motilal Oswal Financial Services and Bajaj Broking, along with foreign portfolio investors (FPIs) and domestic institutional investors (DIIs).
- What
- Two-day trading outlooks for the Nifty, Sensex and Bank Nifty, including key support and resistance levels and global market cues from US inflation data and crude prices.
- Where
- Indian equity markets, in the context of global markets across the US, Asia and the Middle East.
- When
- Covering Thursday's and Friday's domestic trading sessions, following US market closes and inflation and producer price data earlier in the same week.
- Why
- Markets are expected to remain range-bound as investors stay cautious amid elevated crude prices from renewed Middle East tensions and attacks on shipping, while easing expectations of a US Federal Reserve rate hike support sentiment.
Key facts
- GIFT Nifty Futures
- 24,424.50 (down 49 pts) on Thursday; 24,441 (down 27 pts) on Friday
- S&P 500
- 7,748.50 (+0.26%) Wednesday; 7,798.99 (+0.65%, record close) Thursday
- Nasdaq
- 26,588.49 (+0.54%) Wednesday; 26,803.03 (+0.81%) Thursday
- Dow Jones Industrial Average
- 53,770.27 (-0.04%) Wednesday; 53,839.99 (+0.13%) Thursday
- Crude Oil
- US crude $82.58 (-0.83%); Brent $88.35 (-0.71%), later steady at $87.03
- Spot Gold
- $4,419.28 (+0.28%); later down 0.8% to $4,313
- FPI/DII Flows
- FPIs net sold Rs 1,002.50 cr (Wed) and Rs 510.69 cr (Thu); DIIs net bought Rs 5,841.66 cr and Rs 4,353.09 cr
- India VIX
- 11.69 (Thursday outlook); 11.43 (Friday outlook)
Quotes
Sachin Gupta
VP of Technical Research at Choice Broking
“The broader outlook remains sideways, with the Sensex consolidating between crucial support and resistance zones. Holding the 77,250–77,500 support area will be important for maintaining stability, while a decisive move above 78,200–78,400 could revive positive momentum. Until a clear breakout or breakdown emerges, it is likely to remain range‑bound.”
businesstoday.in
“Sustaining the 77,400–77,600 zone will be crucial for maintaining the current structure, while a decisive move above 78,300–78,500 could trigger fresh buying momentum. Until a clear breakout or breakdown emerges, traders may continue to adopt a cautious buy-on-dips strategy while monitoring the 20-Day EMA and key range boundaries.”
businesstoday.in
Sources
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