Pre-market action: Here's the trade setup for today's session

Equities ended lower on Wednesday as traders turned cautious following Donald Trump’s statement that tariffs on Indian goods could be raised. In today's trade, markets will react to additional 25% tariffs imposed by the US President.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 62 points, or 0.25 per cent, at 24,568, signaling that Dalal Street was headed for negative start on Thursday.

• Tech View: The index is likely to remain a “sell on rise” as long as it stays below 24,850. In the short term, the index may trend downwards towards 24,400, which is expected to act as a crucial support level on a sustained or closing basis. If Nifty sustains below 24,400, it is likely to witness a more serious correction.
• India VIX: India VIX, which is a measure of the fear in the markets, rose 2.1% to settle at 11.96 levels.

US stocks end higher
US stocks ended higher on Wednesday, led by a more than 1% gain in the Nasdaq, as Apple shares climbed after news of its plans to announce a domestic manufacturing pledge, and as some companies delivered upbeat earnings reports.

• Dow up 0.2%,
• S&P 500 rises 0.7%,
• Nasdaq gains 1.2%

Asian shares mixed
US stock futures climbed in early trading Thursday, largely looking past President Donald Trump’s threat of a 100% tariff on chip imports. Asian shares were trading mixed in early trade.

• S&P 500 futures rose 0.2% as of 8:02 a.m. Tokyo time
• Hang Seng futures rose 0.3%
• S&P/ASX 200 futures fell 0.3%

Dollar dips
The dollar remained lower against major peers on Thursday, as expectations of Federal Reserve rate cuts grew and concerns swirled about partisanship creeping into key U.S. institutions.

Stocks in F&O ban today

PNB Housing

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 net sold shares worth Rs 4,999 crore on Wednesday. DIIs, meanwhile, were net buyers at Rs 6,794 crore.

Rupee
The rupee recovered from record low level and closed 15 paise higher at 87.73 against the US dollar on Wednesday, supported by a volatile greenback and the Reserve Bank's decision to hold interest rate steady.

FII data
The position of FIIs in the futures market reduced from a net short of Rs 1.68 lakh crore on Tuesday to Rs 1.67 lakh crore on Wednesday.