GIFT Nifty futures hint at muted opening; Asian shares trade lower

Domestic markets closed the previous week with a sharp rebound, marking the second consecutive week of gains. However, weak Q2 GDP data, which came in at 5.4% compared to an expectation of 6.5%, may weigh on investor sentiment as trading kicks off today. Analysts expect markets to remain range-bound amidst mixed global cues and limited domestic triggers.

State of the markets

• Gift Nifty: Signaling a muted start, Nifty futures on the Gift Nifty traded 40 points lower at 24,356.

• India VIX: The volatility index dropped 5.1% on Friday to settle at 14.42, indicating reduced market fear.

Global market cues

• S&P 500 futures: Down 0.1%

• Hang Seng futures: Up 0.7%

• Japan’s Topix: Gained 0.3%

• Australia’s S&P/ASX 200: Rose 0.2%

• Euro Stoxx 50 futures: Advanced 1%

FII/DII data

• FPIs: Net sellers to the tune of Rs 4,383 crore on Friday.

• DIIs: Purchased shares worth Rs 5,723 crore, offsetting FII outflows.

Rupee watch

The rupee slipped 2 paise to close at 84.49 against the US dollar on Friday, dragged by month-end dollar demand and significant FII outflows.

Stocks in F&O ban

No stocks are currently in the F&O ban list for today’s trade.

Markets are expected to remain reactive to global developments, foreign flows, and technical levels, with investors keeping an eye on the movement of indices around key resistance and support zones.