On a bumpy Thursday, our domestic markets ended the day higher, getting ready for a big announcement from the Reserve Bank of India (RBI). Today, we expect markets to remain unpredictable as traders await the RBI’s policy decisions. They think the markets will likely keep going up, even if it starts off shaky on Friday morning.
Market Trends: What to Watch For
– Short-term Outlook: As long as the market stays above 24,300 points, it looks promising. Traders might consider buying when prices dip. If things go well, the index could reach 25,000 soon!
– Fear Index: The India VIX, which shows how scared or confident investors are, went up slightly by 0.54% to a level of 14.53.
Stocks to Keep an Eye On:
1. Granules
2. Manappuram
These stocks are currently in a special ban period because they’ve hit a certain trading limit.
Currency Update:
The Indian Rupee bounced back from its lowest point, ending the day up by 3 paise at 84.72 against the US dollar after a day of steady trading.
Buying and Selling:
Foreign investors were active, buying shares worth ₹8,539 crore on Thursday, while domestic investors sold shares worth ₹2,304 crore.
Foreign Investment Summary:
The amount of money foreign investors are betting against Indian stocks dropped from ₹82,563 crore on Wednesday to ₹45,397 crore on Thursday.
(Disclaimer: The views expressed are of the experts and do not represent the views of NiftyStat.)
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