Nifty gained in Monday’s session and settled at 24,119 and the rebound was led by easing crude prices from last week’s highs and improving risk sentiment, aided by marginal geopolitical relief after the US signalled efforts to facilitate vessel movement through the Strait of Hormuz. Analysts say markets are expected to sustain their gradual upmove, with near-term direction anchored around three key drivers — softer crude oil prices, strong domestic data, and political clarity post state election outcomes.

STATE OF THE MARKETS

• Tech View: On the volatility front, the index eased by nearly 1% over the week to close around 18, and any further cooling in volatility could lend support to bullish momentum. The broader structure remains positive as long as the Nifty holds above 23,800, though some near-term consolidation cannot be ruled out.
• India VIX: India VIX, which is a measure of the fear in the markets, fell 0.9% to settle at 18.30 levels.

Stocks in F&O ban today

NILSecurities 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 bought shares worth Rs 2,835 crore on Monday. DIIs, meanwhile, were net buyers at Rs 4,764 crore.

Rupee
The Indian rupee slipped to its weakest closing level on record at 95.08 on Monday, pressured by heightened dollar demand from maturing non-deliverable forward positions and an uptick in oil prices.

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