Indian equities witnessed a sharp decline on Thursday, weighed down by escalating geopolitical tensions in the Middle East and lack of clarity on the US-China trade deal. Analysts expect the market to remain in a consolidation mode, tracking global market cues and developments on the US-India trade deal.
STATE OF THE MARKETS
- Tech View: Despite the sharp fall, other technical conditions remain intact, suggesting that the broader trend is still strong and a short-term reversal is possible. However, a decisive break below 24,850 could weaken market sentiment. On the higher side, 25,000 is likely to act as immediate resistance.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 2.5% to settle at 14.02 levels.
Stocks in F&O ban today
IREDA
CDSL
ABFRL
Chambal FertilisersHindustan CopperRBL Bank
Titagarh
IEX
Birlasoft
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 3,831 crore on Thursday. DIIs, meanwhile, were net buyers at Rs 9,894 crore.
Rupee
The rupee rose 1 paisa to close to 85.52 against the US dollar on Thursday due to a weak dollar against major currencies overseas.
FII data
The position of FIIs in the futures market reduced from a net short of Rs 86,594 crore on Wednesday to Rs 99,478 crore on Thursday.
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