Today’s share market’s key developments include: Jio Financial invests ₹2,000 crore in Jio Credit, while IOC may declare a second interim dividend. InfoEdge commits ₹250 crore to startups, BPCL expands globally, Brigade launches senior living projects, HCLTech partners IIT Kanpur, reforms advance, and FIIs remain net sellers.
Source: Bajaj Broking Research Desk.
GIFT NIFTY: Gift Nifty suggests a flat to positive opening for the Indian market. Nifty spot in today's session is likely to trade in the range of 25,250-25,650.
INDIA VIX: 13.49 | -0.66 (4.68%) ↓ today
Treasury Yield:
The US benchmark 10-year Treasury yield slipped more than 3 basis points to 4.01%.
Currency:
The U.S. dollar index, which measures the greenback’s strength against a basket of six currencies, was steady at 97.678.
Commodities:
Gold prices were little changed on Thursday as investors stayed on the sidelines ahead of the third round of indirect U.S.-Iran nuclear talks in Geneva, hoping for signals on whether the negotiations could ease geopolitical tensions. Spot gold stood at $5,168.72 per ounce.
Brent crude futures settled down 0.14%, to $70.75 a barrel.
General Trends:
Asia-Pacific markets traded mixed Friday, after U.S. stocks declined overnight as Nvidia shares tumbled despite a quarterly earnings beat.
Sector-Specific Indicators:
Japan’s Nikkei 225 slid 0.6%, while the Topix traded flat. South Korea’s Kospi declined 1.1%, while the small-cap Kosdaq was down 0.35%.
Market in the Previous Session:
Indian equity benchmarks concluded the February 26th session on a subdued note, ending largely flat amid heightened volatility, in line with the monthly Sensex F&O expiry.
Early gains were capped as mixed global cues and a cautious undertone ahead of the ongoing US–Iran nuclear negotiations, along with key macroeconomic releases such as US initial jobless claims and India’s GDP data, prompted profit booking at higher levels.
At the close, the Sensex declined 27.46 points, or 0.03%, to settle at 82,248.61, while the Nifty edged up 14.05 points to end near the 25,500 mark.
Broader markets displayed relative resilience, with the Nifty Midcap index advancing 0.6%, whereas the small-cap index ended flat.
Sectorally, healthcare, auto, pharma, oil & gas, PSU banks, and metals registered gains in the range of 0.4%–1.25%. In contrast, the media index underperformed, slipping 0.7%, while FMCG stocks witnessed mild profit booking.
Nifty Short-Term Outlook:
The index has formed a small bear candle with a small lower shadow signaling continuation of the consolidation amid stock specific action.
Nifty has immediate resistance placed at 25,650, going ahead only a move above the same will signal a pause in the current corrective trend.
As mentioned in earlier edition Index is seen consolidating in the range of 25,350-25,900 in the last 10 sessions. A breakout or a breakdown below this range will signal next direction trend. Volatility is likely to remain elevated amid uncertain global cues.
A breach below Tuesday low 25,327 will open further downside towards the 200 days EMA and the previous gap up area placed around 25,100-25,200.
Intraday Levels:
Nifty: Intraday resistance is at 25,570, followed by the 25,650 levels. Conversely, downside support is located at 25,370, followed by 25,250.
Bank Nifty: Intraday resistance is positioned at 61,320, followed by 61,580, while downside support is found at 60,800, followed by 60,560.
Nifty:
Nifty Synthetic Futures is currently placed near 25,512, positioning the index at a crucial equilibrium zone where directional clarity remains limited.
Call writers remain active in the 25,500–25,700 strike range, creating a strong overhead supply zone. This buildup is likely to cap immediate upside and act as multiple resistance levels in the near term.
On the downside, put writers are gradually trimming positions and shifting support lower, indicating weakening confidence at higher bases. Immediate support is now seen around 25,500 followed by 25,400, which becomes a critical demand zone.
Any intraday pullback is likely to attract selling pressure unless the index sustains decisively above 25,700, which is required to trigger fresh upside momentum.
Bank Nifty:
Put writers have shown aggressive fresh OI addition across 60,500–61,500 strikes, creating a strong support base for the index at lower levels.
Call writers have reduced positions at lower strikes and shifted towards higher strikes, with major positioning now visible near the 62,000 level.
Residual call writing at 61,100 and 61,400 remains under pressure; any unwinding at these levels may trigger short covering and push Bank Nifty towards 62,000.
Immediate and crucial support is placed at 61,000; a breach below this level may negate the ongoing bullish bias.
Until 61,000 holds, intraday declines are likely to be viewed as buying opportunities, supported by strong put writing activity.
Performance Overview:
The S&P 500 closed lower after the latest results from tech titan Nvidia and software giant Salesforce failed to boost the broader market.
Sector-specific indicator:
The S&P 500 fell 0.54% to end at 6,908.86, while the Nasdaq Composite declined 1.18% and closed at 22,878.38. The Dow Jones Industrial Average added 17.05 points, or 0.03%, to settle at 49,499.20.
Nvidia shares fell more than 5%, even after the chip giant posted a fourth-quarter earnings and revenue beat. The stock suffered its worst day since April.
Thursday’s session also saw investors flock toward more cyclical areas of the market, with financials and industrials among the session’s top-performing sectors. Tensions around President Donald Trump’s tariff policies and U.S.-Iran relations remain in the back of investors’ minds.
Economic indicator:
Looking ahead, investors will keep a close watch at the release of January’s producer price index, a measure of wholesale inflation.
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