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

Indian markets opened on a weak note. but staged a V-shaped recovery from intraday lows to close higher. Analysts expect the market to remain range-bound, tracking developments around US-Russia peace talks, India’s response to US tariffs and the domestic earnings trajectory.

STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 46 points, or 0.18 per cent, at 24,648, signaling that Dalal Street was headed for negative start on Friday.

• Tech View: In the short term, the index may continue to recover; however, immediate resistance is seen at 24,660. A decisive move above this level could take the index towards 24,850. On the downside, support is placed at 24,400 on a closing or sustained basis.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 2.3% to settle at 11.69 levels.

Dow, S&P 500 stocks down
The Dow and S&P 500 eased on Thursday, as shares of Eli Lilly dropped after data from its oral weight loss drug disappointed, while the Nasdaq eked out a record closing high.

• Dow down 0.5%;
• S&P 500 dips 0.1%;
• Nasdaq up 0.3%

Asian stocks gain
Asian stocks edged up at the open Friday, poised for a fifth consecutive day of gains, as technology shares lifted Japanese equities.

• S&P 500 futures rose 0.3% as of 9:30 a.m. Tokyo time
• Hang Seng futures fell 0.6%
• Nikkei 225 futures (OSE) rose 1.6%
• Japan’s Topix rose 1.1%
• Australia’s S&P/ASX 200 fell 0.2%
• Euro Stoxx 50 futures rose 0.4%

Oil little changed
Oil prices were little changed in early Asian hours on Friday, but were headed for their steepest weekly losses since late-June, as investors expressed concern over the impact to the global economy from tariffs that kicked into effect on Thursday.

Gold gains
Gold futures jumped to a fresh high on Friday following a report that the United States has imposed tariffs on imports of one-kilo gold bars, while spot gold was headed for a second straight weekly rise on tariff turmoil and U.S. interest rate-cut hopes.

Stocks in F&O ban today

PNB Housing

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 sold shares worth Rs 4,997 crore on Wednesday. DIIs, meanwhile, were net buyers at Rs 10,864 crore.

Rupee
The rupee extended recovery for the second straight session and settled 14 paise higher at 87.58 against the US dollar on Thursday, backed by a weaker American currency amid volatile global sentiment following US' move to raise duty on Indian goods up to 50 per cent as penalty for buying Russian oil.

FII data
The position of FIIs in the futures market increased from a net short of Rs 1.67 lakh crore on Wednesday to Rs 1.73 lakh crore on Thursday.