GIFT Nifty up 5 points; here's the trading setup for today's session

Domestic indices traded sideways amid subdued global cues before closing marginally higher on Tuesday.

"Markets are likely to remain under pressure amid a sharp surge seen in U.S. 10-year treasury yields to 16-year highs of 4.5%. Also mounting concerns over China’s real estate sector, and FIIs offloading in domestic equities dampened the sentiment,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

Here's breaking down the pre-market actions:

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded higher by 4.5 points, or 0.02 per cent, at 19,737, signaling that Dalal Street was headed for muted start on Wednesday.

• Tech View: For day traders, 19735 would be the immediate resistance level while 19620 could act as a key support zone. Above 18735, the index could move up till 19780-19800. On the other hand, below 19620 the market could slip till 19550-19520.
• India VIX: India VIX, which is a measure of the fear in the markets, rose 2.61% to settle at 11.18 levels.

US stocks dip
Wall Street's main indexes ended down over 1% on Tuesday as 10-year Treasury yields held their multi-year highs, with investors still wrestling with prospects for a long period of high interest rates and the economic fallout.

• Dow down 1.19%,
• S&P 500 falls 1.4%,
• Nasdaq slips 1.48%

Asian stocks slip
Asian stocks slumped following Wall Street lower as investors contemplate a protracted period of higher interest rates. The dollar held onto gains from its recent rally.

• S&P 500 futures rose 0.1% as of 9:33 a.m. Tokyo time. The S&P 500 fell 1.5% Tuesday
• Nasdaq 100 futures rose 0.1%. The Nasdaq 100 fell 1.5%
• Japan’s Topix fell 0.8%
• Australia’s S&P/ASX 200 fell 0.3%
• Euro Stoxx 50 futures fell 0.2%

Oil prices edge higher
Oil prices ticked up in early trade on Wednesday, as markets focused on supply tightness heading into winter and a "soft landing" for the U.S. economy.

Dollar gains
The dollar traded near a 10-month high against its major peers on Wednesday as Treasury yields stayed elevated on the prospect of higher-for-longer U.S. rates, while the yen stumbled towards a closely-watched intervention zone.

Stocks in F&O ban today

1) Indiabulls Housing Finance

2) Canara Bank

3) Balrampur Chini Mills

4) Delta Corp

5) Hindustan Copper

6) India Cements

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 were net sellers at Rs 693 crore on Tuesday. DIIs bought shares worth Rs 715 crore.

Rupee
The rupee stayed on the downward track for the second straight day to settle 15 paise lower at 83.28 against the US dollar on Tuesday due to a firm greenback against major currencies overseas and persistent foreign capital outflows