Analysts say market volatility is expected to persist in the near term as geopolitical tensions in West Asia continue to disrupt the energy sector and push crude oil prices higher, while uncertainty around shipping routes through the Strait of Hormuz keeps risk sentiment fragile. Any meaningful de-escalation in the conflict involving Iran, Israel and the US could provide relief and support a recovery in equities, while further escalation may keep markets under pressure.
STATE OF THE MARKETS
- Tech View: In the short term, the trend might continue to remain weak, with any rise being sold into. On the lower end, the index might fall towards 23000/22800, while on the higher end resistance is placed at 23400.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 5.2% to settle at 22.64 levels.
Stocks in F&O ban today
Samman Capital
SAIL
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 10,716 crore on Friday. DIIs, meanwhile, were net buyers at Rs 9977 crore.
Rupee
The rupee pared some losses and closed the session 5 paise down at a fresh record low of 92.30 against the US dollar on Friday, with crude oil prices stabilising around USD 100/barrel, even as global sentiment stayed volatile due to the West Asia crisis.
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