Indian equities witnessed selling pressure on Monday despite opening firm as profit booking pulled down nifty below the 26,000 mark. In the absence of major domestic macro announcements until the GDP numbers on Friday, analysts expect market sentiments to remain cautious until we see some progress on the India US trade talks, while fluctuating foreign flows could add to interim volatility.
STATE OF THE MARKETS
- Tech View: A move above 26,180 would improve sentiment and potentially open the way toward 26,300. With the November series monthly F&O expiry approaching, heightened volatility is expected, and Nifty is likely to fluctuate within a broader range of 25,800–26,200.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 2.9% to settle at 13.24 levels.
Stocks in F&O ban today
1) SAIL
2) Sammaan CapitalSecurities 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 4,171 crore on Monday. DIIs, meanwhile, were net buyers at Rs 4,513 crore.Rupee
The rupee rebounded sharply by 50 paise to settle at 89.16 against the greenback on Monday, due to US dollar selling by banks and importers amid a dip in global crude oil prices.