Another day of Carnage was seen on D-Street on Monday. Going ahead, analysts say markets are likely to remain fragile, with crude prices, currency trends and foreign flows driving near-term direction with volatility expected to stay elevated amid an uncertain backdrop.
STATE OF THE MARKETS
- Tech View: Momentum indicators and oscillators on both the daily and weekly charts continue to signal a sell, indicating a prevailing bearish undertone. However, given the recent sharp correction, the possibility of a strong pullback cannot be ruled out.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 4% to settle at 27.89 levels.
Stocks in F&O ban today
NIL
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.
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FII/DII action
Foreign portfolio investors net sold shares worth Rs 11,163 crore on Monday. DIIs, meanwhile, were net buyers at Rs 14,895 crore.
Rupee
The Indian rupee fell to a record low, past 95, in a volatile trading session on Monday, marking the end of a rough fiscal year in which trade frictions, geopolitics and unfavourable capital flows pummelled the South Asian currency.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)