On Tuesday, markets slipped into the red after the recent sharp rally, with the Nifty falling below the 24,000 mark. Analysts say the market is expected to remain sensitive to developments in the West Asia conflict, with rising crude oil prices, weak rupee and FII outflows continuing to influence sentiment. As the ceasefire discussions remain fragile and the US-Iran negotiations are stalled over key issues such as sanctions, maritime restrictions and the Strait of Hormuz.

STATE OF THE MARKETS

• Tech View: On the lower end, support is placed at 23,950; a decisive fall below this level might trigger a correction in the market. Resistance on the higher end, is placed at 24200, above which the Nifty might witness a directional up move.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 1.6% to settle at 18.08 levels.

Stocks in F&O ban today

SAIL

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 2,104 crore on Tuesday. DIIs, meanwhile, were net buyers at Rs 1,712 crore.

Rupee
The Indian rupee weakened to a near one-month low on Tuesday, pressed by a stubborn rise in oil prices and sustained hedging by local importers against further weakness, underscoring anxiety over the currency’s outlook as it nears the 95 ‌per dollar mark.

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