On Friday, the mood in the market wasn’t very positive. This was mainly because crude oil prices were going up due to worries about supply issues, and the dollar was getting stronger. Analysts believe that we might see the market move sideways for a bit, but investors are paying close attention to the US non-farm payroll data being released today. Here’s a quick look at what’s happening:
Market Overview:
– Market Trends: If the market drops below a certain point, it might fall to around 23,260 or even lower in the short run. The first level to watch for resistance is at 23,700, as explained by Nagaraj Shetti.
– Fear Gauge: The India VIX, which measures market fear, went up by 1.76%, settling at 14.92.
Stocks to Watch:
These stocks are in the ban list today:
1. Manappuram
2. RBL Bank
3. Hindustan Copper
4. LT Finance
5. Bandhan Bank
When a stock’s trades reach over 95% of the total limit allowed, it gets banned for regular trading.
Investors’ Moves:
– Foreign Investors: Foreign investors sold shares worth Rs 2,254 crore on Friday, while domestic investors (DIIs) bought shares worth Rs 3,962 crore.
Rupee Update:
The Indian rupee fell by 18 paise, crossing the 86 mark against the US dollar for the first time. This drop was due to a stronger dollar and big foreign money outflows.
FII Data:
The total short position of foreign investors increased from Rs 2.67 lakh crore on Thursday to Rs 2.77 lakh crore on Friday.
(Disclaimer: The opinions of experts mentioned are their own and do not represent the views of NiftyStat.)
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