Indian equity markets ended a volatile week on a strong note, snapping a two-week losing streak amid improving global sentiment and supportive measures from the Reserve Bank of India (RBI) aimed at attracting foreign currency inflows. The upcoming week is expected to be driven by a combination of domestic macroeconomic releases and major global policy developments. Developments related to the US–Iran negotiations and their implications for crude oil prices and the Strait of Hormuz will continue to influence global risk sentiment.
STATE OF THE MARKETS
Tech View: The immediate hurdle is the 50-DMA, placed around 23,720. A decisive move above this level could open the door for a rally towards 24,000 in the near term. On the downside, 23,500 remains the key psychological support, followed by the strong double-bottom support at 23,070.
India VIX: India VIX, which is a measure of the fear in the markets, fell 6% to settle at 14.72 levels.
Stocks in F&O ban today
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.
Foreign portfolio investors net sold shares worth Rs 1,082 crore on Friday. DIIs, meanwhile, were net buyers at Rs 5,341 crore.
The Indian rupee surged at 95.11 against the dollar on Friday as growing expectations of a US-Iran peace agreement sent oil prices sharply lower and triggered an unwinding of long dollar positions.
