Stock markets fell on Tuesday as investors booked profits following the recent recovery, reflecting weak global sentiment. Expectations about an interest rate cut by the US Fed in December have diminished, which is weighing on sentiment. Looking ahead, analysts said progress on the Indo-US trade deal and a strengthening domestic earnings outlook could revive confidence and support market momentum to convincingly cross the Nifty threshold of 26,000.STATE OF THE MARKETS
- Technical representation: A decisive breakout above this level could pave the way for an upward move towards 26,200. On the other hand, immediate support at the 21-DMA is around 25,800. The market is currently in a consolidation phase, and once this phase is over, Nifty could resume its upward trajectory and possibly hit new all-time highs in the near term.
- India VIX: India’s VIX, a measure of market fear, rose 2.6% to 12.10.
Shares in F&O ban today
1) SAIL
Securities in the ban period under the F&O segment include companies in which the security has exceeded 95% of the market-wide position limit.
FII/DII action
Foreign portfolio investors sold net shares worth Rs 729 crore on Tuesday. DIIs, meanwhile, were net buyers at Rs 6,157 crore.
Rupee
In range trading, the rupee was trading just 1 paisa lower at 88.60 against the US dollar on Tuesday, in line with negative sentiment in the equity markets.
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