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

Indian equities managed to close in the green despite cautious cues from the global markets, backed by continued buying interest and supportive RBI policy. Analysts expect the gradual up-move to continue in the market on hopes of a bilateral trade agreement between India and US, sustained FII buying and supportive RBI policies.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a gap-up start
GIFT Nifty on the NSE IX traded higher by 199.50 points, or 0.83 per cent, at 24,376.50, signaling that Dalal Street was headed for positive start on Wednesday.

• Tech View: On the higher side, the short-term bullish outlook remains intact, with the possibility of a move towards 24,500. On the lower side, support is placed at 24,000; a break below this level could trigger a minor pullback.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 1.8% to settle at 15.23 levels.

US stocks gain
US stocks rebounded on Tuesday as a spate of quarterly earnings reports and hints at the de-escalation of U.S.-China trade tensions brought buyers in from the sidelines.

• Dow gains 2.66%,
• S&P 500 rises 2.51%,
• Nasdaq jumps 2.71%

Gold eases
Gold prices declined on Wednesday after U.S. President Donald Trump backed off threats to fire the Federal Reserve chair and U.S. Treasury Secretary Scott Bessent hinted at easing trade tensions, denting the metal's safe-haven appeal.

Dollar surges
The U.S. dollar jumped broadly against major currencies on Wednesday as investors heaved a sigh of relief after President Donald Trump backed away from threats of firing Federal Reserve Chair Jerome Powell following his recent attacks.

Oil jumps
Oil prices rose almost 1% in early trade on Wednesday, extending the prior day's gains as investors weighed a fresh round of sanctions on Iran, a drop in U.S. crude stocks and a softer tone from Donald Trump on the Federal Reserve.

Stocks in F&O ban today

1) Manappuram

2) 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.

FII/DII action
Foreign portfolio investors turned net buyers at Rs 1,290 crore on Tuesday. DIIs sold shares worth Rs 885 crore.

Rupee
The rupee consolidated in a narrow range and settled lower by 4 paise at 85.19 against the US dollar on Tuesday, as the support from positive domestic equities was negated by dollar short-covering by investors.

FII data
The net short of FIIs reduced from Rs 77,270 crore on Monday to Rs 78,335 crore on Tuesday.