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

Markets finally ended their five-week-long consolidation phase, driven by improving global sentiment, easing geopolitical concerns, and noticeable buying by foreign institutional investors (FIIs) in the latter part of the week.

Looking ahead, global cues will continue to drive market direction. Despite improved sentiment, caution persists regarding potential tariff escalations, with US tariffs scheduled to resume from July 9 and updates on trade agreements will remain in focus.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded lower by 24 points, or 0.09 per cent, at 25,757.50, signaling that Dalal Street was headed for muted start on Monday.

• Tech View: A buy-on-dips strategy appears more appropriate at current levels, following the sharp rise over the past few days. On the downside, support is placed at 25,500; a break below this level could lead to consolidation.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 1.6% to settle at 12.39 levels.

US stocks end higher
Wall Street rallied on Friday, with the S&P 500 and Nasdaq closing at record highs, fueled by trade optimism and growing expectations of Federal Reserve rate cuts. Although markets briefly dipped following President Trump's decision to end trade talks with Canada, all major indices still finished the week with gains. Strong economic data, including consumer spending and sentiment figures, reinforced hopes for monetary easing.

Asian stocks rise
Asian stocks rose along with equity-index futures as record-high US stocks and progress in trade negotiations boosted risk appetite.

• S&P 500 futures rose 0.2% as of 9:26 a.m. Tokyo time
• Japan’s Topix rose 0.8%
• Australia’s S&P/ASX 200 rose 0.2%
• Euro Stoxx 50 futures rose 1.5%

Gold falls
Gold prices fell to their lowest in more than a month on Monday as easing trade tensions between U.S. and China dampened safe-haven demand and prompted investors to pivot toward riskier assets.

Oil dips
Oil prices fell 1% on Monday as an easing of geopolitical risks in the Middle East and the prospect of another OPEC+ output hike in August boosted the supply outlook.

Stocks in F&O ban today

NIL

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 bought shares worth Rs 1,397 crore on Friday. DIIs, meanwhile, were net sellers at Rs 589 crore.

Rupee
The rupee rose 22 paise to close at 85.50 against the greenback on Friday on the back of sustained inflow of foreign funds and firm domestic equity markets.

FII data
The position of FIIs in the futures market reduced from a net short of Rs 34,967 crore on Thursday to Rs 33,518 crore on Friday