Indian equities traded lower on Thursday with the Nifty witnessing some profit booking as investors await further developments on the West Asia conflict. While near-term support may emerge from easing West-Asia tensions and stable crude prices, analysts say the sustainability of any recovery will depend on clarity around the US–Iran situation, movement in energy prices and improvement in liquidity conditions.
STATE OF THE MARKETS
- Tech View: Going ahead, a decisive breakout above 24,000 is crucial to trigger a potential short-covering rally towards the 24,500 zone. On the downside, immediate support is now placed at 23,500 levels.
- India VIX: India VIX, which is a measure of the fear in the markets, rose nearly 4% to settle at 20.43 levels.
Stocks in F&O ban today
SAIL
Sammaan Capital
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 1,711 crore on Wednesday. DIIs, meanwhile, were net buyers at Rs 956 crore.
Rupee
The Indian rupee fell modestly on Thursday as concerns over the longevity of the US-Iran truce pushed oil prices higher, denting local stocks and bonds and weighing on risk assets globally.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)