Indian equity markets traded higher on Friday as sentiment improved after the RBI delivered a 25-basis-point rate cut. Going forward, analysts expect markets to consolidate with a positive bias, supported by the RBI’s rate and liquidity actions, steady domestic flows and rising expectations of a potential US Federal Reserve rate cut.STATE OF THE MARKETS
- Tech View: In the short term, the trend may remain strong, with the potential for the Nifty to move towards 26,300/26,440. Support is placed at 26,060–26,000. Buying on dips may be favoured as long as the index sustains above 26,000.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 4.6% to settle at 10.32 levels.
Stocks in F&O ban today
Sammaan Capital
Bandhan Bank
Kaynes Tech
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 438.9 crore on Friday. DIIs, meanwhile, were net buyers at Rs 4,189 crore.
Rupee
The rupee on Friday gave up its initial gains and settled for the day lower by 5 paise at 89.94 (provisional) against US dollar, after the Reserve Bank cut key benchmark interest rate for the first time in six months.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)