GIFT Nifty up 55 points; here's the trading setup for today's session

Markets ended lower on Thursday as volatility persisted amid the Nifty’s weekly F&O expiry. Going forward markets are likely to remain in consolidation mode, with focus on ongoing earnings and progress in US-India trade negotiations. Key results on Friday include Reliance Industries, JSW Steel, and L&T Finance.

Stock-specific action will likely continue as the earnings season gathers pace.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 55 points, or 0.22 per cent, at 25,203, signaling that Dalal Street was headed for positive start on Friday.

• Tech View: On the hourly chart, a consolidation breakout is visible, indicating weakening bullish momentum. The current sentiment appears bearish and may drag Nifty towards the 24,920–24,900 zone in the short term. On the higher side, 25,260 is likely to remain a strong resistance."
• India VIX: India VIX, which is a measure of the fear in the markets, rose 0.022% to settle at 11.24 levels.

Asian shares gain
Asian stocks made a modest gain at the open Friday as a global equity rally gained fresh vigor on strong economic data that eased concerns about the US economy.

• S&P 500 futures rose 0.1% as of 9:12 a.m. Tokyo time
• Hang Seng futures rose 0.9%
• Japan’s Topix was little changed
• Australia’s S&P/ASX 200 rose 0.5%
• Euro Stoxx 50 futures rose 1.2%

US stocks end higher
The S&P 500 stock index and the Nasdaq Composite both finished at record highs on Thursday, as investors embraced strong economic data and earnings reports that showed American consumers remained willing to spend.

• Dow up 0.52%,
• S&P 500 rises 0.54%,
• Nasdaq gains 0.74%

Gold flat
Gold was flat in early Asian trade on Friday, heading for a weekly fall, weighed down by an overall stronger dollar and solid U.S. economic data.

Stocks in F&O ban today
Angel One
Hindustan Copper
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.

Rupee
The rupee declined 20 paise to settle at 86.12 against the US dollar on Thursday amid a stronger greenback, outflow of foreign funds and volatile global crude oil prices.