Equity markets scaled fresh highs on Thursday, boosted by lower crude prices in international markets and fresh foreign fund inflows amid largely positive global cues. Overall we expect positive momentum to continue and markets to end the year on a buoyant note, said Siddhartha Khemka, Head – Retail Research, Motilal Oswal.Here’s breaking down the pre-market actions:STATE OF THE MARKETSTech View: Having moved above the initial hurdle of 21650 levels, the Nifty is expected to advance towards the next overhead resistance of 22,200 levels in the near term, which is near the 100% Fibonacci extension of major bottom-top-bottoms. Immediate support is at 21550 levels, Nagaraj Shetti of HDFC Securities said.India VIX: India VIX, which is a measure of the fear in the markets, fell 2.68% to settle at 15.14 levels.US stocks end flatThe S&P 500 closed nominally higher on Thursday, retracing early gains just before the closing bell on the penultimate trading day of 2023.Dow up 0.14%, S&P gains 0.04%, Nasdaq off 0.03%Asian shares mixedAsian stocks traded mixed in the last session of the year after US stocks eked out a gain and as investors bargain-hunt in China. S&P 500 futures were little changed as of 9:09 a.m. Tokyo timeJapan’s Topix rose 0.4%Australia’s S&P/ASX 200 fell 0.3%Hang Seng futures fell 0.4%Stocks in F&O ban today1) Hindustan CopperSecurities 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 actionForeign portfolio investors were net buyers at Rs 4,358 crore on Wednesday. DIIs sold shares worth Rs 136 crore.RupeeThe rupee rebounded after two straight days of fall to settle 14 paise higher at 83.20 against the US dollar on Thursday, amid a weak American currency overseas and a rally in domestic equity markets.FII dataThe net long of FIIs increased from Rs 74,252 crore on Wednesday to Rs 81,638 crore on Thursday.
