Indian equities declined on Friday, giving up the gains seen in the previous session. The Nifty fell after failing to cross its previous all-time highs of 26277, ending its two-day advance as sentiment weakened amid a global selloff. Analysts expect markets to remain firm next week supported by buying on dips, improving demand outlook in Q3 and resilient flows. Any progress on the India-US trade talks would be a key short term catalyst for the markets.
STATE OF THE MARKETS
- Tech View: The 21-DMA, placed near 25,840, is likely to serve as key support if the market pulls back. A breakout above the recent swing high could pave the way for fresh record levels around 26,300. The volatility index, which jumped over 10% and moved past 13 is a cause of concern.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 12.3% to settle at 13.63 levels.
Stocks in F&O ban today
1) SAIL
2) 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 1,766 crore on Friday. DIIs, meanwhile, were net buyers at Rs 3,162 crore.Rupee
The rupee plunged 98 paise to close at its lifetime low of 89.66 against the US dollar on Friday, due to a huge demand for the greenback in the domestic forex market amid widespread selling pressure in local and global equities and trade-related uncertainties.