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"Given the current scenario, we maintain a negative outlook on the index and recommend a "sell on rise" strategy. However, individual stocks continue to present trading opportunities on both sides, and participants should adjust their focus accordingly," said Ajit Mishra – SVP, Research, Religare Broking.
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded lower by 1 point, or 0.01 per cent, at 22,584.50, signaling that Dalal Street was headed for muted start on Tuesday.
- Tech View: " Reversal chances rest on the ability to avoid downsides beyond these objectives, or an outright swing back above 22790. We would however look for a break above 22950 as a confirmation of strength."
- India VIX: India VIX, which is a measure of the fear in the markets, fell 0.6% to settle at 14.44 levels.
US stocks mixed
The Nasdaq Composite fell more than 1% on Monday, with big technology stocks creating the biggest drag as investors worried about demand for technology supporting artificial intelligence while they waited for results from market heavyweight Nvidia.
- Dow up 0.08%,
- S&P 500 down 0.50%,
- Nasdaq down 1.21%
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Asian stocks started on a risk-off mood Tuesday after US President Donald Trump’s move to curb Chinese investments and proceed with tariffs on Canada and Mexico prompted investors to trim positions. A decline in US stocks at the end of trading also hurt sentiment.
Popular in Markets
- S&P 500 futures were little changed as of 9:15 a.m. Tokyo time
- Hang Seng futures fell 2.2%
- Japan’s Topix fell 0.6%
- Australia’s S&P/ASX 200 fell 0.9%
- Euro Stoxx 50 futures fell 0.3%
Gold steadies
Gold prices hovered near a record high on Tuesday, supported by safe-haven demand amid concerns over U.S. President Donald Trump's tariff plans which could fuel inflation and escalate a global trade war.
Stocks in F&O ban today
1) Manappuram
2) Chambal Fertilisers
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.
FII/DII action
Foreign portfolio investors turned net sellers at Rs 6,287 crore on Monday. DIIs bought shares worth Rs 5,185 crore.
Rupee
The rupee dropped 4 paise to settle at 86.72 against the US dollar on Monday amid massive outflow of foreign capital that also dragged down the domestic equity markets by more than 1 per cent.
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FII data
The net short of FIIs stayed flat from Rs 1.92 lakh crore on Friday to Rs 2 lakh crore on Monday.
