Markets had a strong session on Tuesday, with the Nifty gaining nearly 1%, supported by improving global sentiment, strong Q4 corporate earnings, easing crude, and a meaningful pullback in volatility. Analysts say all eyes turn to the second round of US-Iran talks, while markets remain hopeful of progress, elevated tensions and uncertain participation make any negative surprise a key downside risk.
STATE OF THE MARKETS
- Tech View: The India VIX slipped lower, confirming ebbing fear among investors. Going forward, the trend might remain strong, with the potential to rise towards 24800 and possibly higher. On the lower end, immediate support is placed at 24400.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 7% to settle at 17.53 levels.
Stocks in F&O ban today
SAILSecurities 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 1,919 crore on Tuesday. DIIs, meanwhile, were net sellers at Rs 2221 crore.
Rupee
The rupee declined 28 paise to close at 93.44 against the US dollar on Tuesday, weighed down by a steady American currency and volatile crude oil prices amid uncertainties over the progress of West Asia peace negotiations.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)