Indian benchmark indices witnessed profit booking during the second half of the session amid escalating geopolitical tensions, prompting investors to reduce overnight risk exposure. Volatility remained elevated throughout the day, with sharp intraday swings driven by the weekly Sensex expiry. Analysts say Nifty continues to consolidate in the broad range of 23,000-23,550 and they expect the current consolidation to extend until a directional breakout emerges.

STATE OF THE MARKETS

Gift Nifty (Earlier SGX Nifty) signals a positive start

Tech View: Buying interest is consistently emerging near the 23,000–23,100 support zone, limiting further downside. Given the current setup, a level-based trading approach is advisable, with consolidation likely between 23,000–23,100 support and 23,350–23,500 resistance in the near term.

India VIX: India VIX, which is a measure of the fear in the markets, fell 0.1% to settle at 15.61 levels.

S&P 500 futures rose 0.2% as of 9:04 a.m. Tokyo time

Hang Seng futures rose 0.9%

Japan’s Topix rose 1.4%

Australia’s S&P/ASX 200 rose 1.5%

Euro Stoxx 50 futures rose 0.5%

The euro was little changed at $1.1570

The Japanese yen fell 0.2% to 160.19 per dollar

The offshore yuan was little changed at 6.7667 per dollar

The Australian dollar was little changed at $0.7044

Oil prices slumped to two-month lows on the news of an agreement. U.S. West Texas Intermediate (WTI) crude futures fell 1.9% to $86.08 a barrel, on top of a 2.6% drop overnight. Brent dropped 1.5% at $89.08 per barrel, having fallen nearly 3% overnight.

Stocks in F&O ban today

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.

Foreign portfolio investors net sold shares worth Rs 1,987 crore on Thursday. DIIs, meanwhile, were net buyers at Rs 4,224 crore.

The rupee plunged 60 paise to settle at 95.85 against the US dollar on Thursday amid heightened tensions in West Asia and a stronger greenback. Heavy foreign capital outflows and weak sentiments at the domestic equity markets put further pressure on the local unit, according to forex traders.