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

Nifty extended its rally for the seventh consecutive day, closing at an over 4-month high on the back of sustained FII buying and strong global market cues due to multiple positive developments in the US. Analysts expect the up-move to continue in the Indian market on the back of continued buying interest and supportive domestic cues, while tracking developments on the US tariff front.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 50.50 points, or 0.21 per cent, at 24,261, signaling that Dalal Street was headed for negative start on Thursday.

• Tech View: Immediate support lies around 24150–24100, while key support is placed in the 24000–23900 zone, aligning with the 200SMA and recent breakout levels. On the higher side, resistance is seen near 24550, which marks the 61.8% retracement of the decline from the all-time high
• India VIX: India VIX, which is a measure of the fear in the markets, rose 4.8% to settle at 15.96 levels.

US stocks end higher
Wall Street stocks advanced on Wednesday on revived hopes for progress in the U.S.-China trade dispute and as President Donald Trump soothed fears the Federal Reserve could lose its autonomy with reassurances that he has "no intention of firing" Fed Chair Jerome Powell.

• Dow up 1.07%,
• S&P 500 rises 1.67%,
• Nasdaq gains 2.50%

Asian stocks in tight range
Asian stocks traded in a tight range at the open Thursday as a global relief rally started to lose steam after mixed signals from the Trump administration on its plans for China tariffs.

• S&P 500 futures rose 0.2% as of 9:28 a.m. Tokyo time
• Hang Seng futures fell 0.5%
• Japan’s Topix rose 0.6%
• Australia’s S&P/ASX 200 rose 0.4%
• Euro Stoxx 50 futures rose 2.8%

Gold gains
Gold rose on Thursday as investors bought the dip after prices hit one-week lows in the previous session on U.S. President Donald Trump's reassurance about not firing Federal Reserve Chair Jerome Powell and his remarks on China trade talks.

Dollar down
The dollar took a breather on Thursday, following a sharp bounce after President Donald Trump backed away from threats to fire Federal Reserve chair Jerome Powell and his administration opened the door to a softer stance on China tariffs.

Oil up
Oil prices ticked up early on Thursday after falling nearly 2% in the previous session, with investors weighing a potential OPEC+ output increase against conflicting tariff signals from the White House and ongoing U.S.-Iran nuclear talks.

Stocks in F&O ban today
1) 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 3,333 crore on Wednesday. DIIs sold shares worth Rs 1234 crore.

Rupee
Rupee traded weak, down by 0.23 at 85.37, as the dollar index rose sharply above 99$ scaling intraday highs near 99.60$, which added notable pressure on the rupee

FII data
The net short of FIIs reduced from Rs 78,335 crore on Tuesday to Rs 70,771 crore on Wednesday.