Nifty ended lower on Friday, snapping a 6-day run-up as markets were pressured by US sanctions on Russian oil companies and profit-taking by investors. Analysts expect Indian equities to remain range bound, tracking global cues, upcoming Q2 results and macro-economic data. FII inflows and upbeat management commentaries could help sustain positive market momentum, though intermittent profit booking cannot be ruled out.
STATE OF THE MARKETS
- Tech View: The next 1–2 sessions might remain volatile; however, a sustained rally looks possible thereafter. On the higher end, resistance is placed at 25,850, above which a rally towards 26,000–26,200 looks possible.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 1.2% to settle at 11.59 levels.
Stocks in F&O ban today
1) SAIL
2) 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 bought shares worth Rs 621 crore on Friday. DIIs, meanwhile, were net buyers at Rs 173 crore.
Rupee
The Indian rupee surrendered all of its intraday gains to end little changed on Friday as optimism over trade talks faded after an Indian minister signalled caution over ongoing negotiations.