Indian equities extended their losing streak on Wednesday, as persistent foreign fund outflows and the Indian rupee’s plunge to a record low beyond the Rs 90 mark dampened sentiment. In the near term, analysts expect markets to trade range-bound, tracking currency trends, RBI monetary policy cues, and developments on the trade negotiation front.
STATE OF THE MARKETS
- Tech View: From here, if the index sustains the recovery — as expected after taking support at 25,900 — it may move towards 26,060 on the higher side, where it could face resistance once again, potentially triggering another decline.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 0.13% to settle at 11.21 levels.
Stocks in F&O ban today
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 3,207 crore on Wednesday. DIIs, meanwhile, were net buyers at Rs 4,730 crore.
Rupee
The Indian rupee slid past 90 per US dollar to a record low on Wednesday, declining for the sixth consecutive session as traders bet subdued trade and portfolio flows will keep Asia’s worst performer under pressure without central bank intervention.
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