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

Benchmark indices Sensex and Nifty jumped more than 2% on Tuesday due to positive global market cues after US President Trump announced a temporary tariff relief on phones, computers and popular consumer electronics. Focus will be on the key Q4 earnings including Wipro.

Analysts expect positive momentum to continue in the market, on hopes of global trade settlements and softening in US reciprocal tariffs.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 101.50 points, or 0.43 per cent, at 23,283, signaling that Dalal Street was headed for negative start on Wednesday.

• Tech View: Support is placed at 23,300; a decisive break below this level could trigger a correction towards 23,000. Resistance is placed at 23,370 and 23,650.
• India VIX: India VIX, which is a measure of the fear in the markets, fell nearly 20% to settle at 16.12 levels.

US stocks end lower
US stocks ended slightly lower on Tuesday as tariff uncertainty stayed high and shares of consumer and healthcare companies eased, while upbeat results from banks provided some support.

• Dow down 0.4%,
• S&P 500 dips 0.2%,
• Nasdaq falls 0.1%

Asian shares down
Asian stocks edged lower and US equity-index futures slid as trade conflicts showed no signs of abating, with Nvidia Corp. saying the US put new restrictions on some chip exports to China.

• S&P 500 futures fell 0.9% as of 9:24 a.m. Tokyo time
• Hang Seng futures fell 0.1%
• Japan’s Topix was little changed
• Australia’s S&P/ASX 200 was little changed
• Euro Stoxx 50 futures rose 1.4%

Oil flat
Oil prices were flat early on Wednesday, as shifting U.S. trade policies fuelled uncertainty while markets assessed the potential impact of the U.S.-China trade war on economic growth and energy demand.

Dollar bounces
The dollar clung to a small bounce on Wednesday, as investors took a breather from weeks of fairly fierce selling and markets stabilised to wait for progress on U.S. trade talks.

Gold rises
Gold prices raced to an all-time high on Wednesday, driven by a weaker dollar, trade war tensions and concerns over global economic growth due to U.S. President Donald Trump's tariff plans which led to safe-haven inflows.


Stocks in F&O ban today

1) BirlaSoft

2) Hindustan Copper

3) Manappuram

4) Nalco

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 turned net sellers at Rs 6,066 crore on Tuesday. DIIs bought shares worth Rs 1,952 crore.

Rupee
Rising for the second straight session, the rupee jumped 30 paise to end at 85.80 against the US dollar on Tuesday due to a sharp rise in equity markets and continuing weakness in the American currency amid global uncertainties.

FII data
The net short of FIIs reduced from Rs 1.01 lakh crore on Friday to Rs 87,347 crore on Tuesday.