Domestic equities extended losses for the fourth consecutive session, with the Nifty declining 0.5% to close at 23,870. Investor sentiment remained fragile amid a sharp surge in Brent crude oil prices following escalating geopolitical tensions in West Asia, FII selling and cautious global cues, which outweighed support from the ongoing earnings season. Analysts say Indian equities are likely to remain under pressure in the near term as elevated crude oil prices remain a key overhang.
STATE OF THE MARKETS
Tech View: The index has broken down below the upward consolidation on the daily chart, suggesting a rise in bearishness in the market. Besides, the index has fallen below the critical short-term moving average. The RSI indicator is in a bearish crossover and is falling.
India VIX: India VIX, which is a measure of the fear in the markets, rose 1.4% to settle at 13.48 levels.
Read more: Stocks in news: Infosys, Cipla, Meesho, Suzlon Energy, IndiGo, NTPC
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 2,999 crore on Wednesday. DIIs, meanwhile, were net buyers at Rs 2947 crore.
The rupee traded in a narrow range, appreciating marginally by around 0.05% to 96.50. Despite the day's recovery, the broader bias remains weak as Brent crude oil has rallied close to $98 per barrel, increasing concerns over India's import bill and inflation outlook.
