Gift Nifty signals a cautious start to Tuesday’s trading indicating Nifty shall swing between small gains and losses.
Our Call of the Day: Nifty may drift and struggle for clear direction, with sentiment tempered by renewed FII outflows — overseas investors were net sellers on Monday to the tune of ₹1,884 crore.
Bottom Line: A choppy, range-bound session appears likely as investors weigh the U.S. Fed’s ambiguity on a December rate cut, the ongoing U.S.–India trade negotiations, and the still-muted Q2 earnings season back home.
Long Story Short: Nifty for now, may continue to search for firm footing, but that said, the next decisive up move only above 25927 mark.
7:00 AM GLOBAL UPDATE:
GIFT Nifty 🇮🇳: (-31, 25888)
Dow Futures: (-47, 47290)
Nasdaq 100 Futures (-55, 25918)
Nikkei (+233, 52644)
Hang Seng (-10, 26148)
Dow Jones (+226, 47337)
Nasdaq Composite (+110, 23835)
Bovespa (+775, 150315).
WHAT HAPPENED AT WALL STREET IN OVERNIGHT TRADE:
Wall Street witnessed a choppy start to November as market participants braced little sign that the US government shutdown will end anytime soon. However, two of the three main indexes closed higher as Amazon.com (AMZN) kept climbing.
At Monday’s close, the S&P 500 was up 0.2% at 6,851 and the Nasdaq Composite had added 0.5% to 23,834. The Dow Jones Industrial Average, however, was down 0.5% at 47,336.
Meanwhile, In the US, the government shutdown shows no signs of resolution and is likely to extend into a second month, further delaying the release of key economic data.
Gold prices ($3995 per ounce) are seen stabilizing around $4,000 per ounce on Monday, 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 ($60.90) traded with 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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