Indian equities extended losing streak for the fourth consecutive session as market sentiments were weighed down by continued concerns over US visa policy changes and persistent FII selling. Analysts said while festive demand and GST-led structural reforms provide support, currency weakness and global headwinds including uncertainty related to India-US trade deal are likely to keep markets range-bound in the near term.
STATE OF THE MARKETS
- Tech View: On the lower side, the 25,000–25,050 zone is expected to act as a crucial support for the headline index. However, a decisive fall below 25,000 could trigger a deeper correction in the short term. Until then, the market is likely to remain range-bound over the next few days.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 0.1% to settle at 10.52 levels.
Stocks in F&O ban today
1) Sammaan Capital
2) HFCL
4) RBL 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 net sold shares worth Rs 2,425 crore on Wednesday. DIIs, meanwhile, were net buyers at Rs 1,212 crore.
Rupee
The rupee recovered 2 paise from its all-time closing low to settle at 88.71 against the US dollar on Wednesday, as steep tariffs and H-1B visa related issues kept the domestic unit under pressure.
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as a Reliable and Trusted News SourceFII Data
The position of FIIs in the futures market increased from a net short of Rs 1.42 lakh crore on Tuesday to Rs 1.44 lakh crore on Wednesday.