Indian equities staged a sharp rebound on Monday after the broad-based selling in the previous two trading sessions. Analysts expect the market to remain watchful, tracking global cues and macro-economic data. Defence and crude-linked stocks will remain in focus amidst ongoing Israel-Iran conflict , while monsoon-linked sectors like fertilizers, agro-chemicals, rural FMCG amongst others could be in momentum on expectations of above average rainfall.
STATE OF THE MARKETS
- Tech View: Currently, with investors awaiting the Fed’s follow-up commentary post the rate announcement, a steep directional move is not expected for now. However, a rally towards 25,350 looks highly probable once Nifty reclaims the 25,000 mark. On the downside, support is placed at 24,850.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 1.6% to settle at 14.84 levels.
Stocks in F&O ban today
IREDA
CDSL
ABFRLChambal FertilisersHindustan Copper
RBL 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 2,539 crore on Monday. DIIs, meanwhile, were net buyers at Rs 5,781 crore.
Rupee
The rupee rose 7 paise to settle at 86.04 against the US dollar on Monday amid a strong show at the domestic equity markets, weakening dollar, and easing of global crude oil prices.
FII data
The position of FIIs in the futures market reduced from a net short of Rs 1.04 lakh crore on Friday to Rs 1.01 lakh crore on Monday.
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