Synopsis
Nifty closed slightly higher on Tuesday, fueled by optimism surrounding US trade negotiations and robust institutional buying from both FIIs and DIIs. Technical analysis suggests potential consolidation in the short term, with key levels to watch at 24,550 and 24,250. The rupee strengthened, supported by lower crude oil prices and consistent foreign inflows.
ETMarkets.com
Last Updated: Apr 30, 2025, 07:09:41 AM IST
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Nifty settled marginally on Tuesday on improving US trade negotiations and strong institutional buying. Both FIIs and DIIs turned net buyers in the last two trading sessions. Looking ahead, progress on the US trade deal is expected to provide near-term support, while the ongoing earnings season may lead to stock specific movements.
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STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded lower by 20 points, or 0.08 per cent, at 24,411.50, signaling that Dalal Street was headed for muted start on Wednesday.
Tech View: Consolidation may continue in the short term, especially as the index has yet to give a decisive breakout above 24,550, where the 61.80% retracement level lies. On the lower end, support is placed at 24,250; a breach below this level could trigger increased selling pressure in the market.
India VIX: India VIX, which is a measure of the fear in the markets, rose 2.5% to settle at 17.37 levels.
US stocks gain
US stocks closed solidly in positive territory on Tuesday, after seesawing between modest gains and losses in choppy trading as investors assessed the latest round of corporate earnings, economic data and changes on the trade policy front.
Dow up 0.75%,
S&P 500 rises 0.58%,
Nasdaq gains 0.55%
Asian shares rise
Asian stocks edged up after the S&P 500 index advanced for a sixth day on optimism that companies will be able to weather slowing economic growth and tariff-fueled disruptions.
S&P 500 futures fell 0.3% as of 9:40 a.m. Tokyo time
Hang Seng futures were unchanged
Japan’s Topix rose 0.3%
Australia’s S&P/ASX 200 rose 0.3%
Euro Stoxx 50 futures were little changed
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Gold gains
Gold prices held their ground on Wednesday as investors awaited potential trade developments between the United States and its trading partners and also key U.S. inflation data for clues on the Federal Reserve’s policy path.
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Oil slips
Oil prices edged lower in early Asian trading on Wednesday as President Donald Trump’s erratic tariff policies raised concerns about weakening global economic growth and fuel demand.
Stocks in F&O ban today
1) RBL Bank
Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.
FII/DII action
Foreign portfolio investors turned net buyers at Rs 2,386 crore on Tuesday. DIIs bought shares worth Rs 1369 crore.
Rupee
The rupee gained 27 paise to settle at 84.96 against the US dollar on Tuesday amid a decline in crude oil prices and steady FII inflows.
