Indian equities ended with strong gains on Wednesday, recovering some of the losses from the previous trading session. Analysts say the market is expected to remain volatile until things become clearer on the US tariff front, while stock specific action would continue on the back of upcoming Q4 earnings and management guidance.
STATE OF THE MARKETS
- Tech View: Daily momentum indicators have a positive crossover which is a buy signal and hence this dip towards the support zone should be considered as a buying interest. On the upside, we expect 22800 – 23000. Crucial support 22250- 22230.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 10.3% to settle at 20.44 levels.
Stocks in F&O ban today
1) BirlaSoft
2) Hindustan Copper
3) ManappuramSecurities 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 turned net sellers at Rs 4,995 crore on Tuesday. DIIs bought shares worth Rs 3,097 crore.
Rupee
Declining for the third straight session, the rupee tumbled 50 paise to settle at 86.26 against the US dollar on Tuesday, logging the maximum single-day loss in nearly three months amid a looming global trade war stoking fears of economic meltdown.
FII data
The net short of FIIs increased from Rs 1.07 lakh crore on Monday to Rs 1.09 lakh crore on Tuesday.
