Markets ended lower on Thursday as volatility persisted amid the Nifty’s weekly F&O expiry. Going forward markets are likely to remain in consolidation mode, with focus on ongoing earnings and progress in US-India trade negotiations. Key results on Friday include Reliance Industries, JSW Steel, and L&T Finance.
Stock-specific action will likely continue as the earnings season gathers pace.
STATE OF THE MARKETS
- Tech View: On the hourly chart, a consolidation breakout is visible, indicating weakening bullish momentum. The current sentiment appears bearish and may drag Nifty towards the 24,920–24,900 zone in the short term. On the higher side, 25,260 is likely to remain a strong resistance.”
- India VIX: India VIX, which is a measure of the fear in the markets, rose 0.022% to settle at 11.24 levels.
Stocks in F&O ban today
Angel One
Hindustan Copper
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.Rupee
The rupee declined 20 paise to settle at 86.12 against the US dollar on Thursday amid a stronger greenback, outflow of foreign funds and volatile global crude oil prices.