Domestic markets experienced a sharp decline and traded within a narrow range until the close on Tuesday, weighed down by weakness in heavyweights such as Reliance
"This market movement aligns with expectations, and we recommend maintaining a cautious stance until Nifty decisively surpasses the 25,300 level. However, select sectors and themes are still presenting buying opportunities, so traders should focus on stock selection and adopt a balanced approach," said Ajit Mishra – SVP, Research, Religare Broking.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded higher by 70 points, or 0.28 per cent, at 25,042, signaling that Dalal Street was headed for negative start on Wednesday.
US stocks slip
Wall Street's major stock indexes closed lower on Tuesday, with a 1% drop in the technology-heavy Nasdaq leading
losses as chip stocks tumbled on demand concerns while the energy sector fell 3% as oil prices dropped.
Asian stocks decline
Stocks in Asia declined following a US selloff after a disappointing outlook from Europe’s most-valuable tech firm and concern about tighter US curbs on chip sales hit the industry that’s powered the bull market.
Stocks in F&O ban today
1) Chambal Fertilisers
2) SAIL
3) Hindustan Copper
4) RBL Bank
5) Granules
6) Manappuram
7) PNB
8) GNFC
9) IDFC First Bank
10) Tata Chemicals
11) IEX
12) Nalco
13) LTF
14) Bandhan 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 sellers at Rs 1,748 crore on Tuesday. DIIs bought shares worth Rs 1655 crore.
Rupee
The rupee recovered from its all-time low levels and settled higher by 1 paisa at 84.04 against US dollar on Tuesday.
FII data
The net short of FIIs increased from Rs 1.50 lakh crore on Monday to Rs 1.57 lakh crore on Tuesday.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
"This market movement aligns with expectations, and we recommend maintaining a cautious stance until Nifty decisively surpasses the 25,300 level. However, select sectors and themes are still presenting buying opportunities, so traders should focus on stock selection and adopt a balanced approach," said Ajit Mishra – SVP, Research, Religare Broking.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded higher by 70 points, or 0.28 per cent, at 25,042, signaling that Dalal Street was headed for negative start on Wednesday.
- Tech View: The short-term trend of Nifty continues to be choppy and the market is now placed within a broader range of 25,200-24,900 levels. A decisive move above 25,200 levels could open the next upside of around 25,500-25,600 levels in the near term. Immediate support is placed at 24,900 levels, said Nagaraj Shetti of HDFC Securities.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 0.058% to settle at 13 levels.
US stocks slip
Wall Street's major stock indexes closed lower on Tuesday, with a 1% drop in the technology-heavy Nasdaq leading
losses as chip stocks tumbled on demand concerns while the energy sector fell 3% as oil prices dropped.
- Dow dips 0.75%,
- S&P 500 down 0.76%,
- Nasdaq falls 1.01%
Asian stocks decline
Stocks in Asia declined following a US selloff after a disappointing outlook from Europe’s most-valuable tech firm and concern about tighter US curbs on chip sales hit the industry that’s powered the bull market.
- S&P 500 futures were little changed as of 9:25 a.m. Tokyo time
- Hang Seng futures fell 1.3%
- Japan’s Topix fell 0.5%
- Australia’s S&P/ASX 200 fell 0.4%
- Euro Stoxx 50 futures fell 1.6%
Stocks in F&O ban today
1) Chambal Fertilisers
2) SAIL
3) Hindustan Copper
4) RBL Bank
5) Granules
6) Manappuram
7) PNB
8) GNFC
9) IDFC First Bank
10) Tata Chemicals
11) IEX
12) Nalco
13) LTF
14) Bandhan 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 sellers at Rs 1,748 crore on Tuesday. DIIs bought shares worth Rs 1655 crore.
Rupee
The rupee recovered from its all-time low levels and settled higher by 1 paisa at 84.04 against US dollar on Tuesday.
FII data
The net short of FIIs increased from Rs 1.50 lakh crore on Monday to Rs 1.57 lakh crore on Tuesday.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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