“We expect the market to consolidate in a broader range and base to gradually shift higher,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal.
Here’s breaking down the pre-market actions:
STATE OF THE MARKETS
- Tech View: Technically, the Nifty closed below the level of 22,500 which has been acting as a minor support for the last couple of days. While this is a negative development it’s not something that opens a big downside, Tejas Shah of JM Financial & BlinkX said.
- India VIX: India VIX, which is a measure of the fear in the markets, rose 8.72% to settle at 14.62 levels.
Stocks in F&O ban today
1) Vodafone Idea
2) Biocon
3) ABFRL
4) Balrampur Chini Mills
5) GMR Infra
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 were net sellers at Rs 2,391 crore on Friday. Meanwhile, DIIs bought shares worth Rs 690 crore.
Rupee
The rupee inched up 1 paisa to settle at 83.45 against the US dollar on Friday, tracking a weak American currency and sliding crude oil prices in global markets
FII data
The net long of FIIs turned from Rs 25,615 crore on Thursday to net short of Rs 46,719 crore.
Q4 results
Godrej Consumer, Lupin, Indian Bank, Marico among others will announce their fourth quarter earnings on Wednesday.
