D-St set for a negative opening as GIFT Nifty signals weak start
Indian stock markets are expected to open lower following a negative signal from GIFT Nifty and mixed performance in Asian markets. Investors remain cautious as global oil prices rise and market volatility, measured by the India VIX, shows an upward trend.
Why it matters
Market volatility and global economic indicators like crude oil prices directly impact investor sentiment and portfolio performance in the Indian financial sector.
Benchmark indices opened with a gap-up on Wednesday and initially extended their gains, but the momentum failed to sustain, with selling pressure emerging as the session progressed. The indices subsequently traded lower through the day, giving up their early gains and closing in negative territory amid higher crude prices as Brent crude moved above $110. On the higher side, analysts say key level to watch is Monday's high of 23,175, only a move above the same will signal pullback towards 23,300 and 23,500 levels in the coming sessions being the 50% retracement of the entire recent decline from 24,774 to 22,180.STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a negative startGIFT Nifty on the NSE IX traded lower by 38.5 points, or 0.17 per cent, at 22,690, signaling that Dalal Street was headed for a negative start on Thursday.Tech View: A cautious stance is advisable, with 22,650–22,700 acting as…
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