GIFT Nifty futures up 40 points; markets likely to open higher amid global cues

Indian equity markets are acceptable to unfastened connected a affirmative enactment connected Wednesday, tracking gains successful planetary markets. GIFT Nifty futures were trading 40 points higher astatine 23,028.50, indicating a dependable commencement for benchmark indices. However, volatility is expected to persist arsenic investors oculus cardinal events, including the upcoming Union Budget and the Federal Reserve’s argumentation decision.

Technical outlook: Key levels to watch

The Nifty50 remains nether bearish power arsenic agelong arsenic it stays beneath the 23,000-mark connected a closing basis. On the downside, contiguous enactment is placed astatine 22,800, and a breach beneath this level could propulsion the scale towards 22,500. However, if the scale manages to adjacent supra 23,000, immoderate short-term alleviation could beryllium expected.

Global markets: Tech stocks substance recovery

Wall Street rebounded connected Tuesday, led by gains successful exertion stocks, peculiarly Nvidia and different AI-linked firms. The Dow Jones Industrial Average roseate 0.3 percent, portion the S&P 500 and Nasdaq surged 0.9 percent and 2 percent, respectively.

Asian markets mirrored Wall Street’s recovery, with Japan’s Topix rising 0.5 percent and Australia’s S&P/ASX 200 gaining 0.8 percent successful aboriginal trade. Meanwhile, European futures were mostly unchanged arsenic investors await further cues from planetary markets.

FII/DII activity: Domestic investors antagonistic overseas outflows

Foreign organization investors (FIIs) remained nett sellers, offloading Rs 4,921 crore worthy of equities connected Tuesday. However, home organization investors (DIIs) stepped in, buying shares worthy Rs 6,814 crore, providing enactment to the market.

Rupee question and India VIX

The rupee depreciated by 26 paise, closing astatine 86.57 against the US dollar, amid concerns implicit planetary commercialized policies. Meanwhile, India VIX, the volatility index, inched up 0.3 percent to 18.2, reflecting cautious sentiment among traders.

Outlook: Cautious optimism prevails

Despite a affirmative start, marketplace volatility is expected to stay precocious owed to cardinal upcoming events, including the Union Budget, the Federal Open Market Committee (FOMC) meeting, and the F&O expiry. Investors are apt to absorption connected banking and large-cap stocks, portion mid- and small-cap segments whitethorn stay nether unit owed to valuation concerns.