Domestic markets witnessed profit booking after four consecutive sessions of gains, with the Nifty declining 0.6%. Indian equities are expected to witness a gradual upmove, aided by supportive global cues, healthy domestic macroeconomic indicators, and encouraging corporate earnings. Investors will closely track the US jobs data later today, followed by the RBI's monetary policy decision tomorrow, and the UK and US Composite and Services PMI.
STATE OF THE MARKETS
Tech View: The short-term trend is likely to remain sideways to positive as long as the index holds above 24,400. A decisive break below this level could trigger a deeper correction. On the downside, support is placed at 24,400 and 24,200, while on the upside, immediate resistance continues to remain at 24,800.
India VIX: India VIX, which is a measure of the fear in the markets, rose 2% to settle at 12.19 levels.
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Stocks in F&O ban today
LIC
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 bought shares worth Rs 2,446 crore on Tuesday. DIIs, meanwhile, were net sellers at Rs 936 crore.
The rupee appreciated 9 paise to close at 95.28 against the US dollar on Tuesday as foreign capital inflows amid signs of easing geopolitical tensions in West Asia boosted investor sentiment.
