GIFT Nifty signals yet another cautious optimistic start — perfectly aligning with our “Call of the Day,” which suggests that bullish investors would aim to step-in amidst 2-positive catalysts:
1) Well, after weeks of relentless FII outflows, a ray of optimism surfaced in Friday’s trade as overseas investors turned net buyers by ₹6,675 crore.
2) US stock futures are pointing to sizeable gains amid signs that US lawmakers are nearing a deal to end the record-long government shutdown.
Bottom-line: This reversal in sentiments towards bullishness could refresh confidence that the recent selling spree might soon run its course, lending strength to Nifty’s undertone. That said, confirmation of strength will only come once Nifty closes above the 25,807 mark.
7:00 AM GLOBAL UPDATE:
GIFT Nifty 🇮🇳: (-2, 25577)
Dow Futures: (+133, 47120)
Nasdaq 100 Futures (+221, 25281)
Nikkei (+502, 50778)
Hang Seng (+78, 26319)
Dow Jones (+75, 46987)
Nasdaq Composite (-49, 23005)
Bovespa (+725, 154064).
WHAT HAPPENED AT WALL STREET IN FRIDAY’S TRADE:
Wall Street staged a major rebound in Friday’s session after steep early losses, though the broader takeaway remained negative as all major benchmarks posted sizable weekly declines. Selling pressure dominated early trade amid concerns over stretched valuations and the ongoing U.S. government shutdown.
However, late optimism emerged after media reports suggested the funding deadlock might be resolved sooner than expected, helping two of the three major indices close in positive territory.
Net-net, the tech-heavy Nasdaq Composite fell 0.2% to 23,004. The broader S&P 500 managed a 0.1% gain to end at 6,728 and the blue-chip Dow Jones Industrial Average added 0.2% to 46,987.
Gold prices ($4021 per ounce) are seen stabilizing above the $4,000 per ounce, but remaining below October’s record high of $4,382 with investors keeping an eye on the Federal Reserve’s policy outlook
WTI crude oil futures ($59.95) was seen consolidating with slight negative bias as, traders assessed OPEC+’s decision to pause output increases next quarter amid expectations of slowing demand and looming oversupply.
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