Equities markets advanced on Wednesday, supported by positive global cues, even as, risk sentiment remained cautious against the backdrop of trade-related uncertainties. Overall, analysts say while the undertone remains cautious with selective sectoral participation, markets are likely to continue trading within a broader range in the near term, guided by macro developments and sector-specific catalysts.
STATE OF THE MARKETS
- Tech View: Going forward, analysts expect the market to remain sideways until there is an improvement in investor confidence. Immediate support is placed at 25300; as long as this level is maintained, the possibility of a rally remains intact. On the higher end, resistance is placed at 25650-25750.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 4.7% to settle at 13.49 levels.
Stocks in F&O ban today
NILSecurities 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 2,991 crore on Wednesday. DIIs, meanwhile, were net buyers at Rs 5,119 crore.
Rupee
The rupee stayed range-bound and settled with a gain of 4 paise at 90.91 against the US dollar on Wednesday on the back of foreign fund inflow and a weak greenback.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)