Today, Indian stock markets dropped sharply, similar to what happened in the global markets. This decline was influenced by strong job data from the U.S., which suggests there may be fewer interest rate cuts in 2025. Experts believe there will be ups and downs in the market soon, especially because of the upcoming 2025 budget, third-quarter earnings, the Reserve Bank of India’s policies, and Donald Trump’s new policies.
Current Market Condition:
– Nifty Direction: The Nifty index appears weak. It might fall further to support levels around 22,800 to 22,700. If it rises to about 23,350, experts suggest it could be a good time to sell.
– India VIX: This index, which shows market fear, went up by 7.2% and is now at 16 levels.
Companies in Trouble:
These companies had too much trading today and are now limited:
1. Manappuram
2. RBL Bank
3. Hindustan Copper
4. LT Finance
5. Bandhan Bank
6. Aarti Industries
Companies in the ban period have crossed 95% of the allowed trading limit.
Investment Activity:
Foreign investors sold shares worth Rs 4,893 crore last Friday. In contrast, Domestic Institutional Investors (DIIs) bought shares worth Rs 8,066 crore.
Rupee Situation:
The Indian rupee dropped by 58 paise, reaching its lowest point in almost two years at 86.62 against the U.S. dollar. This happened because the U.S. dollar became stronger and crude oil prices rose sharply.
FII Data:
Foreign Institutional Investors (FIIs) increased their net short positions from Rs 2.77 lakh crore last Friday to over Rs lakh crore on Monday.
(Disclaimer: The insights and opinions in this article are those of the experts and do not reflect the views of NiftyStat.)
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